Investors focused on the Construction space have likely heard of Construction Partners (ROAD - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? By taking a look at the stock's year-to-date performance in comparison to its Construction peers, we might be able to answer that question.
Construction Partners is one of 99 individual stocks in the Construction sector. Collectively, these companies sit at #8 in the Zacks Sector Rank. 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 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. ROAD is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for ROAD's full-year earnings has moved 1.72% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, ROAD has gained about 71.57% so far this year. In comparison, Construction companies have returned an average of 23.14%. This means that Construction Partners is outperforming the sector as a whole this year.
To break things down more, ROAD belongs to the Building Products - Miscellaneous industry, a group that includes 26 individual companies and currently sits at #155 in the Zacks Industry Rank. Stocks in this group have gained about 26.42% so far this year, so ROAD is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Construction stocks should continue to pay close attention to ROAD as it looks to continue its solid performance.