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Has Altair Engineering (ALTR) Outpaced Other Construction Stocks This Year?

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Investors focused on the Construction space have likely heard of Altair Engineering (ALTR - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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 100 individual stocks in the Construction sector. Collectively, these companies sit at #2 in 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 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. ALTR is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for ALTR's full-year earnings has moved 15.56% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the latest available data, ALTR has gained about 50.80% so far this year. Meanwhile, stocks in the Construction group have gained about 25.53% on average. This shows that Altair Engineering is outperforming its peers so far this year.

Looking more specifically, ALTR belongs to the Engineering - R and D Services industry, a group that includes 17 individual stocks and currently sits at #217 in the Zacks Industry Rank. On average, stocks in this group have gained 24.94% this year, meaning that ALTR is performing better in terms of year-to-date returns.

ALTR will likely be looking to continue its solid performance, so investors interested in Construction stocks should continue to pay close attention to the company.

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