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Is Patrick Industries (PATK) 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. Is Patrick Industries (PATK - Free Report) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Construction peers, we might be able to answer that question.
Patrick Industries is one of 104 companies in the Construction group. The Construction group currently sits at #3 within 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. PATK is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for PATK's full-year earnings has moved 12.35% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that PATK has returned about 22.19% since the start of the calendar year. Meanwhile, the Construction sector has returned an average of 20.25% on a year-to-date basis. This means that Patrick Industries is outperforming the sector as a whole this year.
Looking more specifically, PATK belongs to the Building Products - Mobile Homes and RV Builders industry, which includes 5 individual stocks and currently sits at #8 in the Zacks Industry Rank. Stocks in this group have gained about 35.57% so far this year, so PATK is slightly underperforming its industry this group in terms of year-to-date returns.
Investors in the Construction sector will want to keep a close eye on PATK as it attempts to continue its solid performance.
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Is Patrick Industries (PATK) 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. Is Patrick Industries (PATK - Free Report) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Construction peers, we might be able to answer that question.
Patrick Industries is one of 104 companies in the Construction group. The Construction group currently sits at #3 within 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. PATK is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for PATK's full-year earnings has moved 12.35% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that PATK has returned about 22.19% since the start of the calendar year. Meanwhile, the Construction sector has returned an average of 20.25% on a year-to-date basis. This means that Patrick Industries is outperforming the sector as a whole this year.
Looking more specifically, PATK belongs to the Building Products - Mobile Homes and RV Builders industry, which includes 5 individual stocks and currently sits at #8 in the Zacks Industry Rank. Stocks in this group have gained about 35.57% so far this year, so PATK is slightly underperforming its industry this group in terms of year-to-date returns.
Investors in the Construction sector will want to keep a close eye on PATK as it attempts to continue its solid performance.