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? 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.
Construction Partners is a member of the Construction sector. This group includes 101 individual stocks and currently holds a Zacks Sector Rank of #2. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. ROAD is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for ROAD's full-year earnings has moved 1.02% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, ROAD has moved about 78.03% on a year-to-date basis. At the same time, Construction stocks have gained an average of 32.04%. This means that Construction Partners is performing better than its sector in terms of year-to-date returns.
Looking more specifically, ROAD belongs to the Building Products - Miscellaneous industry, which includes 25 individual stocks and currently sits at #74 in the Zacks Industry Rank. This group has gained an average of 32.25% so far this year, so ROAD is performing better in this area.
Investors in the Construction sector will want to keep a close eye on ROAD as it attempts to continue its solid performance.