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Is Great Lakes Dredge & Dock (GLDD) Outperforming Other Construction Stocks This Year?

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Investors interested in Construction stocks should always be looking to find the best-performing companies in the group. Great Lakes Dredge & Dock (GLDD - 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 GLDD and the rest of the Construction group's stocks.

Great Lakes Dredge & Dock is one of 99 individual stocks in the Construction sector. Collectively, these companies sit at #5 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. GLDD is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for GLDD's full-year earnings has moved 5.88% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the most recent data, GLDD has returned 56.49% so far this year. Meanwhile, the Construction sector has returned an average of 22.91% on a year-to-date basis. This means that Great Lakes Dredge & Dock is outperforming the sector as a whole this year.

Looking more specifically, GLDD belongs to the Building Products - Heavy Construction industry, which includes 12 individual stocks and currently sits at #73 in the Zacks Industry Rank. On average, stocks in this group have gained 16.78% this year, meaning that GLDD is performing better in terms of year-to-date returns.

Investors in the Construction sector will want to keep a close eye on GLDD as it attempts to continue its solid performance.


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