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Is Quanex Building Products (NX) Outperforming Other Construction Stocks This Year?
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Investors focused on the Construction space have likely heard of Quanex Building Products (NX - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Quanex Building Products is a member of our Construction group, which includes 98 different companies and currently sits at #2 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 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. NX is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for NX's full-year earnings has moved 18.49% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, NX has returned 24.85% so far this year. At the same time, Construction stocks have gained an average of 21.98%. This means that Quanex Building Products is outperforming the sector as a whole this year.
Breaking things down more, NX is a member of the Building Products - Miscellaneous industry, which includes 23 individual companies and currently sits at #96 in the Zacks Industry Rank. Stocks in this group have gained about 18.57% so far this year, so NX is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Construction stocks should continue to pay close attention to NX as it looks to continue its solid performance.
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Is Quanex Building Products (NX) Outperforming Other Construction Stocks This Year?
Investors focused on the Construction space have likely heard of Quanex Building Products (NX - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Quanex Building Products is a member of our Construction group, which includes 98 different companies and currently sits at #2 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 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. NX is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for NX's full-year earnings has moved 18.49% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, NX has returned 24.85% so far this year. At the same time, Construction stocks have gained an average of 21.98%. This means that Quanex Building Products is outperforming the sector as a whole this year.
Breaking things down more, NX is a member of the Building Products - Miscellaneous industry, which includes 23 individual companies and currently sits at #96 in the Zacks Industry Rank. Stocks in this group have gained about 18.57% so far this year, so NX is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Construction stocks should continue to pay close attention to NX as it looks to continue its solid performance.