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Dycom Industries, Inc. (DY) - free report >>
Great Lakes Dredge & Dock Corporation (GLDD) - free report >>
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Dycom Industries, Inc. (DY) - free report >>
Great Lakes Dredge & Dock Corporation (GLDD) - free report >>
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Are Construction Stocks Lagging Dycom Industries (DY) This Year?
For those looking to find strong Construction stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Dycom Industries (DY - Free Report) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Construction peers, we might be able to answer that question.
Dycom Industries is a member of the Construction sector. This group includes 94 individual stocks and currently holds a Zacks Sector Rank of #1. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Dycom Industries is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for DY's full-year earnings has moved 12.2% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, DY has returned 55.4% so far this year. At the same time, Construction stocks have gained an average of 5.8%. This means that Dycom Industries is performing better than its sector in terms of year-to-date returns.
Another stock in the Construction sector, Great Lakes Dredge & Dock (GLDD - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 15.8%.
Over the past three months, Great Lakes Dredge & Dock's consensus EPS estimate for the current year has increased 26.1%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Dycom Industries belongs to the Building Products - Heavy Construction industry, which includes 11 individual stocks and currently sits at #1 in the Zacks Industry Rank. This group has gained an average of 55.4% so far this year, so DY is slightly underperforming its industry in this area. Great Lakes Dredge & Dock is also part of the same industry.
Going forward, investors interested in Construction stocks should continue to pay close attention to Dycom Industries and Great Lakes Dredge & Dock as they could maintain their solid performance.