Has FORTERRA INC (FRTA) Outpaced Other Construction Stocks This Year?
Investors focused on the Construction space have likely heard of FORTERRA INC (FRTA), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of FRTA and the rest of the Construction group's stocks.
FORTERRA INC is a member of our Construction group, which includes 102 different companies and currently sits at #1 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 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. FRTA is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for FRTA's full-year earnings has moved 141.67% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, FRTA has moved about 14.62% on a year-to-date basis. At the same time, Construction stocks have gained an average of 1.99%. This means that FORTERRA INC is outperforming the sector as a whole this year.
Looking more specifically, FRTA belongs to the Building Products - Concrete and Aggregates industry, a group that includes 12 individual stocks and currently sits at #61 in the Zacks Industry Rank. This group has gained an average of 0.37% so far this year, so FRTA is performing better in this area.
Going forward, investors interested in Construction stocks should continue to pay close attention to FRTA as it looks to continue its solid performance.
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