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Is Construction Partners (ROAD) Outperforming Other Construction Stocks This Year?
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For those looking to find strong Construction stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Construction Partners (ROAD - Free Report) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Construction sector should help us answer this question.
Construction Partners is a member of our Construction group, which includes 100 different companies and currently sits at #4 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. ROAD is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for ROAD's full-year earnings has moved 6.72% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, ROAD has moved about 66.82% on a year-to-date basis. In comparison, Construction companies have returned an average of 27.14%. As we can see, Construction Partners is performing better than its sector in the calendar year.
Looking more specifically, ROAD belongs to the Building Products - Miscellaneous industry, which includes 27 individual stocks and currently sits at #50 in the Zacks Industry Rank. On average, stocks in this group have gained 32.01% this year, meaning that ROAD is performing better in terms of year-to-date returns.
Going forward, investors interested in Construction stocks should continue to pay close attention to ROAD as it looks to continue its solid performance.
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Is Construction Partners (ROAD) Outperforming Other Construction Stocks 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 Construction Partners (ROAD - Free Report) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Construction sector should help us answer this question.
Construction Partners is a member of our Construction group, which includes 100 different companies and currently sits at #4 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. ROAD is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for ROAD's full-year earnings has moved 6.72% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, ROAD has moved about 66.82% on a year-to-date basis. In comparison, Construction companies have returned an average of 27.14%. As we can see, Construction Partners is performing better than its sector in the calendar year.
Looking more specifically, ROAD belongs to the Building Products - Miscellaneous industry, which includes 27 individual stocks and currently sits at #50 in the Zacks Industry Rank. On average, stocks in this group have gained 32.01% this year, meaning that ROAD is performing better in terms of year-to-date returns.
Going forward, investors interested in Construction stocks should continue to pay close attention to ROAD as it looks to continue its solid performance.