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North American Construction Group Ltd. (NOA) - free report >>
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North American Construction Group Ltd. (NOA) - free report >>
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Is North American Construction Group (NOA) Stock Outpacing Its Construction Peers 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 North American Construction Group (NOA - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
North American Construction Group is one of 99 individual stocks in the Construction sector. Collectively, these companies sit at #11 in the Zacks Sector Rank. 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. NOA is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for NOA's full-year earnings has moved 84.29% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, NOA has moved about 70.71% on a year-to-date basis. Meanwhile, stocks in the Construction group have lost about 7.56% on average. As we can see, North American Construction Group is performing better than its sector in the calendar year.
Looking more specifically, NOA belongs to the Building Products - Heavy Construction industry, a group that includes 11 individual stocks and currently sits at #60 in the Zacks Industry Rank. This group has lost an average of 14.53% so far this year, so NOA is performing better in this area.
Investors in the Construction sector will want to keep a close eye on NOA as it attempts to continue its solid performance.