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? Let's take a closer look at the stock's year-to-date performance to find out.
Installed Building Products is a member of the Construction sector. This group includes 93 individual stocks and currently holds a Zacks Sector Rank of #16. 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. Installed Building Products is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for IBP's full-year earnings has moved 7.3% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that IBP has returned about 5.7% since the start of the calendar year. Meanwhile, stocks in the Construction group have gained about 5.6% 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, MasTec (MTZ), has outperformed the sector so far this year. The stock's year-to-date return is 7%.
In MasTec's case, the consensus EPS estimate for the current year increased 6.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Installed Building Products belongs to the Building Products - Miscellaneous industry, a group that includes 34 individual companies and currently sits at #190 in the Zacks Industry Rank. On average, this group has gained an average of 2.9% so far this year, meaning that IBP is performing better in terms of year-to-date returns.
MasTec, however, belongs to the Building Products - Heavy Construction industry. Currently, this 9-stock industry is ranked #191. The industry has moved +52.5% so far this year.
Investors interested in the Construction sector may want to keep a close eye on Installed Building Products and MasTec as they attempt to continue their solid performance.
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Installed Building Products, Inc. (IBP): Free Stock Analysis Report MasTec, Inc. (MTZ): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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