Investors interested in Construction stocks should always be looking to find the best-performing companies in the group. Is Quanta Services (PWR) 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.
Quanta Services is a member of the Construction sector. This group includes 92 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 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. Quanta Services is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for PWR's full-year earnings has moved 0.4% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, PWR has moved about 13.2% on a year-to-date basis. Meanwhile, stocks in the Construction group have gained about 11.1% on average. This means that Quanta Services is outperforming the sector as a whole this year.
Another stock in the Construction sector, Tetra Tech (TTEK), has outperformed the sector so far this year. The stock's year-to-date return is 21.4%.
In Tetra Tech's case, the consensus EPS estimate for the current year increased 1.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Quanta Services belongs to the Engineering - R and D Services industry, which includes 19 individual stocks and currently sits at #55 in the Zacks Industry Rank. On average, this group has gained an average of 13.1% so far this year, meaning that PWR is performing better in terms of year-to-date returns. Tetra Tech is also part of the same industry.
Investors with an interest in Construction stocks should continue to track Quanta Services and Tetra Tech. These stocks will be looking to continue their solid performance.
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Quanta Services, Inc. (PWR): Free Stock Analysis Report Tetra Tech, Inc. (TTEK): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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