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Is Owens Corning (OC) Outperforming Other Construction Stocks This Year?
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The Construction group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Owens Corning (OC - 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.
Owens Corning is a member of the Construction sector. This group includes 100 individual stocks and currently holds a Zacks Sector Rank of #1. 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. Owens Corning is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for OC's full-year earnings has moved 15.5% 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 OC has returned about 61.3% since the start of the calendar year. At the same time, Construction stocks have gained an average of 34%. This means that Owens Corning is outperforming the sector as a whole this year.
Another stock in the Construction sector, PGT , has outperformed the sector so far this year. The stock's year-to-date return is 57.7%.
The consensus estimate for PGT's current year EPS has increased 18.2% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Owens Corning is a member of the Building Products - Miscellaneous industry, which includes 28 individual companies and currently sits at #23 in the Zacks Industry Rank. On average, stocks in this group have gained 33.9% this year, meaning that OC is performing better in terms of year-to-date returns. PGT is also part of the same industry.
Owens Corning and PGT could continue their solid performance, so investors interested in Construction stocks should continue to pay close attention to these stocks.
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Is Owens Corning (OC) Outperforming Other Construction Stocks This Year?
The Construction group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Owens Corning (OC - 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.
Owens Corning is a member of the Construction sector. This group includes 100 individual stocks and currently holds a Zacks Sector Rank of #1. 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. Owens Corning is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for OC's full-year earnings has moved 15.5% 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 OC has returned about 61.3% since the start of the calendar year. At the same time, Construction stocks have gained an average of 34%. This means that Owens Corning is outperforming the sector as a whole this year.
Another stock in the Construction sector, PGT , has outperformed the sector so far this year. The stock's year-to-date return is 57.7%.
The consensus estimate for PGT's current year EPS has increased 18.2% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Owens Corning is a member of the Building Products - Miscellaneous industry, which includes 28 individual companies and currently sits at #23 in the Zacks Industry Rank. On average, stocks in this group have gained 33.9% this year, meaning that OC is performing better in terms of year-to-date returns. PGT is also part of the same industry.
Owens Corning and PGT could continue their solid performance, so investors interested in Construction stocks should continue to pay close attention to these stocks.