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Investors interested in Construction stocks should always be looking to find the best-performing companies in the group. Patrick Industries (PATK) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of PATK and the rest of the Construction group's stocks.
Patrick Industries is one of 104 individual stocks in the Construction sector. Collectively, these companies sit at #9 in the Zacks Sector Rank. 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 system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. PATK is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for PATK's full-year earnings has moved 21.39% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, PATK has gained about 20.41% so far this year. Meanwhile, the Construction sector has returned an average of 19.40% on a year-to-date basis. This means that Patrick Industries is outperforming the sector as a whole this year.
Looking more specifically, PATK belongs to the Building Products - Mobile Homes and RV Builders industry, a group that includes 5 individual stocks and currently sits at #11 in the Zacks Industry Rank. Stocks in this group have gained about 34.65% so far this year, so PATK is slightly underperforming its industry this group in terms of year-to-date returns.
Investors in the Construction sector will want to keep a close eye on PATK as it attempts to continue its solid performance.
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