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Is Owens Corning (OC) 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. Owens Corning (OC - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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 one of 95 companies in the Construction group. The Construction group currently sits at #1 within 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 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. Owens Corning is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for OC's full-year earnings has moved 0.4% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, OC has gained about 10.9% so far this year. In comparison, Construction companies have returned an average of 4.9%. This means that Owens Corning is performing better than its sector in terms of year-to-date returns.
Sterling Infrastructure (STRL - Free Report) is another Construction stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 10.8%.
Over the past three months, Sterling Infrastructure's consensus EPS estimate for the current year has increased 5.8%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Owens Corning belongs to the Building Products - Miscellaneous industry, a group that includes 28 individual stocks and currently sits at #31 in the Zacks Industry Rank. Stocks in this group have gained about 7.1% so far this year, so OC is performing better this group in terms of year-to-date returns.
In contrast, Sterling Infrastructure falls under the Engineering - R and D Services industry. Currently, this industry has 21 stocks and is ranked #82. Since the beginning of the year, the industry has moved +10.1%.
Investors interested in the Construction sector may want to keep a close eye on Owens Corning and Sterling Infrastructure as they attempt to continue their solid performance.
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Is Owens Corning (OC) 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. Owens Corning (OC - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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 one of 95 companies in the Construction group. The Construction group currently sits at #1 within 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 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. Owens Corning is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for OC's full-year earnings has moved 0.4% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, OC has gained about 10.9% so far this year. In comparison, Construction companies have returned an average of 4.9%. This means that Owens Corning is performing better than its sector in terms of year-to-date returns.
Sterling Infrastructure (STRL - Free Report) is another Construction stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 10.8%.
Over the past three months, Sterling Infrastructure's consensus EPS estimate for the current year has increased 5.8%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Owens Corning belongs to the Building Products - Miscellaneous industry, a group that includes 28 individual stocks and currently sits at #31 in the Zacks Industry Rank. Stocks in this group have gained about 7.1% so far this year, so OC is performing better this group in terms of year-to-date returns.
In contrast, Sterling Infrastructure falls under the Engineering - R and D Services industry. Currently, this industry has 21 stocks and is ranked #82. Since the beginning of the year, the industry has moved +10.1%.
Investors interested in the Construction sector may want to keep a close eye on Owens Corning and Sterling Infrastructure as they attempt to continue their solid performance.