Investors focused on the Construction space have likely heard of North American Construction Group (NOA - 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.
North American Construction Group is a member of our Construction group, which includes 99 different companies and currently sits at #9 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. NOA is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for NOA's full-year earnings has moved 84.29% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, NOA has returned 58.59% so far this year. In comparison, Construction companies have returned an average of -7.81%. This means that North American Construction Group is performing better than its sector in terms of year-to-date returns.
Looking more specifically, NOA belongs to the Building Products - Heavy Construction industry, which includes 11 individual stocks and currently sits at #53 in the Zacks Industry Rank. Stocks in this group have lost about 13.20% so far this year, so NOA is performing better this group in terms of year-to-date returns.
Investors with an interest in Construction stocks should continue to track NOA. The stock will be looking to continue its solid performance.