Yahoo Finance Is Granite Construction (GVA) Stock Outpacing Its Construction Peers This Year?
For those looking to find strong Construction stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Granite Construction (GVA) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Granite Construction is a member of our Construction group, which includes 94 different companies and currently sits at #2 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 model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Granite Construction is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for GVA's full-year earnings has moved 11% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that GVA has returned about 22.8% since the start of the calendar year. At the same time, Construction stocks have gained an average of 8.2%. As we can see, Granite Construction is performing better than its sector in the calendar year.
Armstrong World Industries (AWI) is another Construction stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 16.7%.
Over the past three months, Armstrong World Industries' consensus EPS estimate for the current year has increased 2.8%. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Granite Construction is a member of the Building Products - Heavy Construction industry, which includes 11 individual companies and currently sits at #1 in the Zacks Industry Rank. This group has gained an average of 59.2% so far this year, so GVA is slightly underperforming its industry in this area.
On the other hand, Armstrong World Industries belongs to the Building Products - Miscellaneous industry. This 28-stock industry is currently ranked #33. The industry has moved +8.8% year to date.
Investors with an interest in Construction stocks should continue to track Granite Construction and Armstrong World Industries. These stocks will be looking to continue their solid performance.
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Granite Construction Incorporated (GVA) : Free Stock Analysis Report
Armstrong World Industries, Inc. (AWI) : Free Stock Analysis Report
