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Is Owens Corning (OC) Stock Outpacing Its Construction Peers This Year?
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Investors interested in Construction stocks should always be looking to find the best-performing companies in the group. Is Owens Corning (OC - Free Report) one of those stocks right now? 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.
Owens Corning is a member of our Construction group, which includes 98 different companies and currently sits at #1 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 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. OC is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for OC's full-year earnings has moved 29.89% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that OC has returned about 37.01% since the start of the calendar year. Meanwhile, the Construction sector has returned an average of 20.69% on a year-to-date basis. This shows that Owens Corning is outperforming its peers so far this year.
Looking more specifically, OC belongs to the Building Products - Miscellaneous industry, which includes 23 individual stocks and currently sits at #87 in the Zacks Industry Rank. On average, stocks in this group have gained 16.49% this year, meaning that OC is performing better in terms of year-to-date returns.
Investors in the Construction sector will want to keep a close eye on OC as it attempts to continue its solid performance.
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Is Owens Corning (OC) Stock Outpacing Its Construction Peers This Year?
Investors interested in Construction stocks should always be looking to find the best-performing companies in the group. Is Owens Corning (OC - Free Report) one of those stocks right now? 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.
Owens Corning is a member of our Construction group, which includes 98 different companies and currently sits at #1 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 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. OC is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for OC's full-year earnings has moved 29.89% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that OC has returned about 37.01% since the start of the calendar year. Meanwhile, the Construction sector has returned an average of 20.69% on a year-to-date basis. This shows that Owens Corning is outperforming its peers so far this year.
Looking more specifically, OC belongs to the Building Products - Miscellaneous industry, which includes 23 individual stocks and currently sits at #87 in the Zacks Industry Rank. On average, stocks in this group have gained 16.49% this year, meaning that OC is performing better in terms of year-to-date returns.
Investors in the Construction sector will want to keep a close eye on OC as it attempts to continue its solid performance.