Investors interested in Construction stocks should always be looking to find the best-performing companies in the group. Is Quanex Building Products (NX) 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.
Quanex Building Products is one of 100 companies in the Construction group. The Construction group currently sits at #3 within 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. NX is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for NX's full-year earnings has moved 11.84% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that NX has returned about 35.32% since the start of the calendar year. In comparison, Construction companies have returned an average of 25.80%. This means that Quanex Building Products is performing better than its sector in terms of year-to-date returns.
Looking more specifically, NX belongs to the Building Products - Miscellaneous industry, a group that includes 27 individual stocks and currently sits at #42 in the Zacks Industry Rank. On average, stocks in this group have gained 29.95% this year, meaning that NX is performing better in terms of year-to-date returns.
Investors in the Construction sector will want to keep a close eye on NX as it attempts to continue its solid performance.
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