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Is Patrick Industries (PATK) Stock Outpacing Its Construction Peers This Year?

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Investors focused on the Construction space have likely heard of Patrick Industries (PATK - 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.

Patrick Industries is one of 103 individual stocks in the Construction sector. Collectively, these companies sit 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 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).

Over the past 90 days, the Zacks Consensus Estimate for PATK's full-year earnings has moved 15.78% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Based on the latest available data, PATK has gained about 18.30% so far this year. Meanwhile, stocks in the Construction group have gained about 17.39% on average. 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, a group that includes 5 individual stocks and currently sits at #4 in the Zacks Industry Rank. This group has gained an average of 33% so far this year, so PATK is slightly underperforming its industry in this area.

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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