Investors interested in Construction stocks should always be looking to find the best-performing companies in the group. Is Carrier Global (CARR) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Carrier Global is one of 92 companies in the Construction group. The Construction group currently sits at #9 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. Carrier Global is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CARR's full-year earnings has moved 3.2% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, CARR has gained about 8.7% so far this year. Meanwhile, the Construction sector has returned an average of 1.5% on a year-to-date basis. As we can see, Carrier Global is performing better than its sector in the calendar year.
Emcor Group (EME) is another Construction stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 27.6%.
The consensus estimate for Emcor Group's current year EPS has increased 12.5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Carrier Global is a member of the Building Products - Air Conditioner and Heating industry, which includes 9 individual companies and currently sits at #31 in the Zacks Industry Rank. This group has gained an average of 19% so far this year, so CARR is slightly underperforming its industry in this area.
On the other hand, Emcor Group belongs to the Building Products - Heavy Construction industry. This 9-stock industry is currently ranked #40. The industry has moved +9.8% year to date.
Investors with an interest in Construction stocks should continue to track Carrier Global and Emcor Group. These stocks will be looking to continue their solid performance.
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This article originally published on Zacks Investment Research (zacks.com).