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For those looking to find strong Construction stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Pacasmayo (CPAC) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Pacasmayo is a member of our Construction group, which includes 88 different companies and currently sits at #8 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. Pacasmayo is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CPAC's full-year earnings has moved 30.6% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, CPAC has returned 27.2% so far this year. In comparison, Construction companies have returned an average of 24.7%. This means that Pacasmayo is performing better than its sector in terms of year-to-date returns.
One other Construction stock that has outperformed the sector so far this year is Emcor Group (EME). The stock is up 139.4% year-to-date.
Over the past three months, Emcor Group's consensus EPS estimate for the current year has increased 6.3%. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Pacasmayo belongs to the Building Products - Concrete and Aggregates industry, a group that includes 8 individual companies and currently sits at #174 in the Zacks Industry Rank. On average, stocks in this group have gained 16.6% this year, meaning that CPAC is performing better in terms of year-to-date returns.
Emcor Group, however, belongs to the Building Products - Heavy Construction industry. Currently, this 10-stock industry is ranked #36. The industry has moved +104.9% so far this year.
Going forward, investors interested in Construction stocks should continue to pay close attention to Pacasmayo and Emcor Group as they could maintain their solid performance.
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