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Is Quanex Building Products (NX) Stock Outpacing Its Construction Peers This Year?

Zacks Equity Research

Investors focused on the Construction space have likely heard of Quanex Building Products (NX), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of NX and the rest of the Construction group's stocks.

Quanex Building Products is one of 99 companies in the Construction group. The Construction group currently sits at #10 within 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. NX is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for NX's full-year earnings has moved 8.82% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

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Based on the latest available data, NX has gained about 35.39% so far this year. In comparison, Construction companies have returned an average of 32.17%. This means that Quanex Building Products is performing better than its sector in terms of year-to-date returns.

Looking more specifically, NX belongs to the Building Products - Miscellaneous industry, a group that includes 26 individual stocks and currently sits at #160 in the Zacks Industry Rank. Stocks in this group have gained about 36.21% so far this year, so NX is slightly underperforming its industry this group in terms of year-to-date returns.

Investors with an interest in Construction stocks should continue to track NX. The stock will be looking to continue its solid performance.


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Zacks Investment Research