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Is Altair Engineering (ALTR) Stock Outpacing Its Construction Peers 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. Altair Engineering (ALTR - 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? One simple way to answer this question is to take a look at the year-to-date performance of ALTR and the rest of the Construction group's stocks.
Altair Engineering is one of 99 individual stocks in the Construction sector. Collectively, these companies sit at #2 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. ALTR is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ALTR's full-year earnings has moved 7.14% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, ALTR has gained about 59.03% so far this year. In comparison, Construction companies have returned an average of -8.88%. This means that Altair Engineering is outperforming the sector as a whole this year.
Looking more specifically, ALTR belongs to the Engineering - R and D Services industry, a group that includes 12 individual stocks and currently sits at #210 in the Zacks Industry Rank. On average, this group has lost an average of 8.92% so far this year, meaning that ALTR is performing better in terms of year-to-date returns.
Investors in the Construction sector will want to keep a close eye on ALTR as it attempts to continue its solid performance.
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Is Altair Engineering (ALTR) Stock Outpacing Its Construction Peers 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. Altair Engineering (ALTR - 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? One simple way to answer this question is to take a look at the year-to-date performance of ALTR and the rest of the Construction group's stocks.
Altair Engineering is one of 99 individual stocks in the Construction sector. Collectively, these companies sit at #2 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. ALTR is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ALTR's full-year earnings has moved 7.14% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, ALTR has gained about 59.03% so far this year. In comparison, Construction companies have returned an average of -8.88%. This means that Altair Engineering is outperforming the sector as a whole this year.
Looking more specifically, ALTR belongs to the Engineering - R and D Services industry, a group that includes 12 individual stocks and currently sits at #210 in the Zacks Industry Rank. On average, this group has lost an average of 8.92% so far this year, meaning that ALTR is performing better in terms of year-to-date returns.
Investors in the Construction sector will want to keep a close eye on ALTR as it attempts to continue its solid performance.