The Construction group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has SPX Technologies (SPXC) been one of those stocks this year? 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.
SPX Technologies is one of 92 companies in the Construction group. The Construction group currently sits at #15 within 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 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. SPX Technologies is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for SPXC's full-year earnings has moved 3.3% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, SPXC has returned 43.3% so far this year. In comparison, Construction companies have returned an average of 4.5%. This shows that SPX Technologies is outperforming its peers so far this year.
Another Construction stock, which has outperformed the sector so far this year, is Sterling Infrastructure (STRL). The stock has returned 87.9% year-to-date.
In Sterling Infrastructure's case, the consensus EPS estimate for the current year increased 9.2% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, SPX Technologies belongs to the Building Products - Air Conditioner and Heating industry, a group that includes 7 individual companies and currently sits at #170 in the Zacks Industry Rank. On average, this group has lost an average of 3.1% so far this year, meaning that SPXC is performing better in terms of year-to-date returns.
In contrast, Sterling Infrastructure falls under the Engineering - R and D Services industry. Currently, this industry has 15 stocks and is ranked #96. Since the beginning of the year, the industry has moved +8.4%.
Going forward, investors interested in Construction stocks should continue to pay close attention to SPX Technologies and Sterling Infrastructure as they could maintain their solid performance.
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SPX Technologies, Inc. (SPXC): Free Stock Analysis Report Sterling Infrastructure, Inc. (STRL): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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