Investors focused on the Construction space have likely heard of Norbord (OSB - 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.
Norbord is one of 99 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. OSB is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for OSB's full-year earnings has moved 31.72% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, OSB has gained about 20.23% so far this year. Meanwhile, stocks in the Construction group have lost about 7.47% on average. As we can see, Norbord is performing better than its sector in the calendar year.
Breaking things down more, OSB is a member of the Building Products - Wood industry, which includes 11 individual companies and currently sits at #17 in the Zacks Industry Rank. On average, this group has gained an average of 0.81% so far this year, meaning that OSB is performing better in terms of year-to-date returns.
Going forward, investors interested in Construction stocks should continue to pay close attention to OSB as it looks to continue its solid performance.