The Construction group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has North American Construction Group (NOA - Free Report) been one of those stocks this year? 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.
North American Construction Group is a member of the Construction sector. This group includes 99 individual stocks and currently holds a Zacks Sector Rank of #5. 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. NOA is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for NOA's full-year earnings has moved 2.42% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, NOA has gained about 35.39% so far this year. Meanwhile, the Construction sector has returned an average of 22.91% on a year-to-date basis. As we can see, North American Construction Group is performing better than its sector in the calendar year.
Breaking things down more, NOA is a member of the Building Products - Heavy Construction industry, which includes 12 individual companies and currently sits at #73 in the Zacks Industry Rank. This group has gained an average of 16.78% so far this year, so NOA is performing better in this area.
Going forward, investors interested in Construction stocks should continue to pay close attention to NOA as it looks to continue its solid performance.