The Construction group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has MasTec (MTZ) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Construction sector should help us answer this question.
MasTec is a member of the Construction sector. This group includes 92 individual stocks and currently holds a Zacks Sector Rank of #8. 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. MasTec is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for MTZ's full-year earnings has moved 11.9% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, MTZ has moved about 43.7% on a year-to-date basis. Meanwhile, the Construction sector has returned an average of 8.3% on a year-to-date basis. This means that MasTec is performing better than its sector in terms of year-to-date returns.
Boise Cascade (BCC) is another Construction stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 9.2%.
In Boise Cascade's case, the consensus EPS estimate for the current year increased 0.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, MasTec belongs to the Building Products - Heavy Construction industry, which includes 9 individual stocks and currently sits at #79 in the Zacks Industry Rank. This group has gained an average of 17.3% so far this year, so MTZ is performing better in this area.
In contrast, Boise Cascade falls under the Building Products - Wood industry. Currently, this industry has 9 stocks and is ranked #160. Since the beginning of the year, the industry has moved +7.4%.
MasTec and Boise Cascade could continue their solid performance, so investors interested in Construction stocks should continue to pay close attention to these stocks.
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MasTec, Inc. (MTZ): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).