Investors focused on the Construction space have likely heard of Simpson Manufacturing Company (SSD), but is the stock performing well in comparison to the rest of its sector peers? 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.
Simpson Manufacturing Company is a member of the Construction sector. This group includes 99 individual stocks and currently holds a Zacks Sector Rank of #6. 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. SSD is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for SSD's full-year earnings has moved 5.06% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, SSD has moved about 8.64% on a year-to-date basis. In comparison, Construction companies have returned an average of -8.60%. As we can see, Simpson Manufacturing Company is performing better than its sector in the calendar year.
To break things down more, SSD belongs to the Building Products – Miscellaneous industry, a group that includes 26 individual companies and currently sits at #59 in the Zacks Industry Rank. On average, stocks in this group have lost 3.36% this year, meaning that SSD is performing better in terms of year-to-date returns.
Investors in the Construction sector will want to keep a close eye on SSD as it attempts to continue its solid performance.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Be the first to comment