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? Let's take a closer look at the stock's year-to-date performance to find out.
Installed Building Products is a member of our Construction group, which includes 102 different companies and currently sits at #3 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. IBP is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for IBP's full-year earnings has moved 0.65% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, IBP has moved about 10.02% on a year-to-date basis. Meanwhile, stocks in the Construction group have gained about 1.54% 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 26 individual companies and currently sits at #79 in the Zacks Industry Rank. Stocks in this group have lost about 0.48% so far this year, so IBP is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Construction stocks should continue to pay close attention to IBP as it looks to continue its solid performance.
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