The Construction group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is SPX Technologies (SPXC) one of those stocks right now? 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.
SPX Technologies is a member of our Construction group, which includes 92 different companies and currently sits at #7 in the Zacks Sector Rank. 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. SPX Technologies is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for SPXC's full-year earnings has moved 4.9% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, SPXC has returned 9.8% so far this year. At the same time, Construction stocks have gained an average of 7%. This means that SPX Technologies is outperforming the sector as a whole this year.
Another stock in the Construction sector, United Rentals (URI), has outperformed the sector so far this year. The stock's year-to-date return is 33.4%.
For United Rentals, the consensus EPS estimate for the current year has increased 2.9% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, SPX Technologies belongs to the Building Products - Air Conditioner and Heating industry, a group that includes 9 individual stocks and currently sits at #31 in the Zacks Industry Rank. Stocks in this group have gained about 26.7% so far this year, so SPXC is slightly underperforming its industry this group in terms of year-to-date returns.
On the other hand, United Rentals belongs to the Building Products - Miscellaneous industry. This 34-stock industry is currently ranked #92. The industry has moved -1.1% year to date.
Investors with an interest in Construction stocks should continue to track SPX Technologies and United Rentals. These stocks will be looking to continue their solid performance.
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