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Is Great Lakes Dredge & Dock (GLDD) Stock Outpacing Its Construction Peers This Year?
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The Construction group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Great Lakes Dredge & Dock (GLDD - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
Great Lakes Dredge & Dock is one of 91 individual stocks in the Construction sector. Collectively, these companies sit at #7 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Great Lakes Dredge & Dock is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for GLDD's full-year earnings has moved 6.7% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that GLDD has returned about 16% since the start of the calendar year. In comparison, Construction companies have returned an average of 11.7%. This shows that Great Lakes Dredge & Dock is outperforming its peers so far this year.
One other Construction stock that has outperformed the sector so far this year is PulteGroup (PHM - Free Report) . The stock is up 18.3% year-to-date.
Over the past three months, PulteGroup's consensus EPS estimate for the current year has increased 2.1%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Great Lakes Dredge & Dock belongs to the Building Products - Heavy Construction industry, which includes 10 individual stocks and currently sits at #10 in the Zacks Industry Rank. This group has gained an average of 53.2% so far this year, so GLDD is slightly underperforming its industry in this area.
PulteGroup, however, belongs to the Building Products - Home Builders industry. Currently, this 17-stock industry is ranked #31. The industry has moved +14.7% so far this year.
Going forward, investors interested in Construction stocks should continue to pay close attention to Great Lakes Dredge & Dock and PulteGroup as they could maintain their solid performance.
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Is Great Lakes Dredge & Dock (GLDD) Stock Outpacing Its Construction Peers This Year?
The Construction group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Great Lakes Dredge & Dock (GLDD - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
Great Lakes Dredge & Dock is one of 91 individual stocks in the Construction sector. Collectively, these companies sit at #7 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Great Lakes Dredge & Dock is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for GLDD's full-year earnings has moved 6.7% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that GLDD has returned about 16% since the start of the calendar year. In comparison, Construction companies have returned an average of 11.7%. This shows that Great Lakes Dredge & Dock is outperforming its peers so far this year.
One other Construction stock that has outperformed the sector so far this year is PulteGroup (PHM - Free Report) . The stock is up 18.3% year-to-date.
Over the past three months, PulteGroup's consensus EPS estimate for the current year has increased 2.1%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Great Lakes Dredge & Dock belongs to the Building Products - Heavy Construction industry, which includes 10 individual stocks and currently sits at #10 in the Zacks Industry Rank. This group has gained an average of 53.2% so far this year, so GLDD is slightly underperforming its industry in this area.
PulteGroup, however, belongs to the Building Products - Home Builders industry. Currently, this 17-stock industry is ranked #31. The industry has moved +14.7% so far this year.
Going forward, investors interested in Construction stocks should continue to pay close attention to Great Lakes Dredge & Dock and PulteGroup as they could maintain their solid performance.