Is Installed Building Products (IBP) Outperforming Other Construction Stocks This Year?
Investors focused on the Construction space have likely heard of Installed Building Products (IBP), but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Construction sector should help us answer this question.
Installed Building Products is one of 100 individual stocks in the Construction sector. Collectively, these companies sit 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 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. IBP is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for IBP's full-year earnings has moved 0.65% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, IBP has returned 2.32% so far this year. Meanwhile, stocks in the Construction group have lost about 2.38% on average. This means that Installed Building Products is outperforming the sector as a whole this year.
Breaking things down more, IBP is a member of the Building Products - Miscellaneous industry, which includes 25 individual companies and currently sits at #50 in the Zacks Industry Rank. Stocks in this group have lost about 6.89% so far this year, so IBP is performing better this group in terms of year-to-date returns.
Investors in the Construction sector will want to keep a close eye on IBP as it attempts to continue its solid performance.
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