Investors interested in Construction stocks should always be looking to find the best-performing companies in the group. Is Aaon (AAON) 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.
Aaon is a member of the Construction sector. This group includes 88 individual stocks and currently holds a Zacks Sector Rank of #16. 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. Aaon is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for AAON's full-year earnings has moved 10.6% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, AAON has moved about 71.4% on a year-to-date basis. Meanwhile, stocks in the Construction group have gained about 16.4% on average. This shows that Aaon is outperforming its peers so far this year.
Another stock in the Construction sector, Cardinal (CDNL), has outperformed the sector so far this year. The stock's year-to-date return is 192.1%.
In Cardinal's case, the consensus EPS estimate for the current year increased 13.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Aaon belongs to the Building Products - Air Conditioner and Heating industry, a group that includes 7 individual stocks and currently sits at #48 in the Zacks Industry Rank. Stocks in this group have gained about 44.2% so far this year, so AAON is performing better this group in terms of year-to-date returns.
Cardinal, however, belongs to the Engineering - R and D Services industry. Currently, this 22-stock industry is ranked #82. The industry has moved +40.5% so far this year.
Aaon and Cardinal could continue their solid performance, so investors interested in Construction stocks should continue to pay close attention to these stocks.
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AAON, Inc. (AAON): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).