Yahoo Finance Is Owens Corning (OC) Outperforming Other Construction Stocks This Year?
Investors interested in Construction stocks should always be looking to find the best-performing companies in the group. Is Owens Corning (OC) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Owens Corning 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 gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Owens Corning is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for OC's full-year earnings has moved 10% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that OC has returned about 19.1% since the start of the calendar year. Meanwhile, stocks in the Construction group have gained about 6.9% on average. This means that Owens Corning is outperforming the sector as a whole this year.
One other Construction stock that has outperformed the sector so far this year is PulteGroup (PHM). The stock is up 10.5% year-to-date.
For PulteGroup, the consensus EPS estimate for the current year has increased 7.5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Owens Corning belongs to the Building Products - Miscellaneous industry, a group that includes 28 individual stocks and currently sits at #37 in the Zacks Industry Rank. On average, this group has gained an average of 7% so far this year, meaning that OC is performing better in terms of year-to-date returns.
On the other hand, PulteGroup belongs to the Building Products - Home Builders industry. This 16-stock industry is currently ranked #33. The industry has moved +2.7% year to date.
Going forward, investors interested in Construction stocks should continue to pay close attention to Owens Corning and PulteGroup as they could maintain their solid performance.
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Owens Corning Inc (OC) : Free Stock Analysis Report
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