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Is Great Lakes Dredge & Dock (GLDD) Outperforming Other Construction Stocks This Year?
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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. Great Lakes Dredge & Dock (GLDD - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
Great Lakes Dredge & Dock is a member of our Construction group, which includes 91 different companies and currently sits at #5 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. Great Lakes Dredge & Dock is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for GLDD's full-year earnings has moved 11.1% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, GLDD has gained about 22.9% so far this year. At the same time, Construction stocks have gained an average of 14.9%. This shows that Great Lakes Dredge & Dock is outperforming its peers so far this year.
One other Construction stock that has outperformed the sector so far this year is Tutor Perini (TPC - Free Report) . The stock is up 150.2% year-to-date.
The consensus estimate for Tutor Perini's current year EPS has increased 1.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Great Lakes Dredge & Dock belongs to the Building Products - Heavy Construction industry, which includes 10 individual stocks and currently sits at #11 in the Zacks Industry Rank. This group has gained an average of 59.7% so far this year, so GLDD is slightly underperforming its industry in this area. Tutor Perini is also part of the same industry.
Investors interested in the Construction sector may want to keep a close eye on Great Lakes Dredge & Dock and Tutor Perini as they attempt to continue their solid performance.
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Is Great Lakes Dredge & Dock (GLDD) Outperforming Other Construction Stocks This Year?
For those looking to find strong Construction stocks, it is prudent to search for companies in the group that are outperforming their peers. Great Lakes Dredge & Dock (GLDD - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
Great Lakes Dredge & Dock is a member of our Construction group, which includes 91 different companies and currently sits at #5 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. Great Lakes Dredge & Dock is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for GLDD's full-year earnings has moved 11.1% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, GLDD has gained about 22.9% so far this year. At the same time, Construction stocks have gained an average of 14.9%. This shows that Great Lakes Dredge & Dock is outperforming its peers so far this year.
One other Construction stock that has outperformed the sector so far this year is Tutor Perini (TPC - Free Report) . The stock is up 150.2% year-to-date.
The consensus estimate for Tutor Perini's current year EPS has increased 1.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Great Lakes Dredge & Dock belongs to the Building Products - Heavy Construction industry, which includes 10 individual stocks and currently sits at #11 in the Zacks Industry Rank. This group has gained an average of 59.7% so far this year, so GLDD is slightly underperforming its industry in this area. Tutor Perini is also part of the same industry.
Investors interested in the Construction sector may want to keep a close eye on Great Lakes Dredge & Dock and Tutor Perini as they attempt to continue their solid performance.