Investors interested in Construction stocks should always be looking to find the best-performing companies in the group. Is Installed Building Products (IBP) one of those stocks right now? 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.
Installed Building Products is one of 92 individual stocks in the Construction sector. Collectively, these companies sit at #13 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 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. Installed Building Products is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for IBP's full-year earnings has moved 9.6% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, IBP has returned 51.8% so far this year. Meanwhile, stocks in the Construction group have gained about 4.7% on average. This means that Installed Building Products is performing better than its sector in terms of year-to-date returns.
Another stock in the Construction sector, Advanced Drainage Systems (WMS), has outperformed the sector so far this year. The stock's year-to-date return is 32.1%.
The consensus estimate for Advanced Drainage Systems' current year EPS has increased 1.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Installed Building Products belongs to the Building Products - Miscellaneous industry, a group that includes 33 individual stocks and currently sits at #97 in the Zacks Industry Rank. On average, stocks in this group have lost 2.8% this year, meaning that IBP is performing better in terms of year-to-date returns. Advanced Drainage Systems is also part of the same industry.
Installed Building Products and Advanced Drainage Systems could continue their solid performance, so investors interested in Construction stocks should continue to pay close attention to these stocks.
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Installed Building Products, Inc. (IBP): Free Stock Analysis Report Advanced Drainage Systems, Inc. (WMS): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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