Don't Overlook These 3 Top-Ranked Construction Stocks

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2023-06-09 20:49:00  • 3 mins

Targeting areas of the market that are seeing positive earnings estimate revisions is an excellent way for investors to insert themselves in favorable trends.

Thats precisely what the Zacks Construction sector has witnessed as of late, helping push it into the #1 spot out of all 16 Zacks sectors. The sector has visibly outpaced the S&P 500 in June, up nearly 8% compared to the S&P 500s 2.8% gain.

Three stocks North American Construction Group NOA, D.R. Horton DHI, and Toll Brothers TOL could all be considerations for those looking to tap into relative strength. Lets take a closer look at each.

North American Construction Group

North American Construction Group provides heavy construction and mining services to large oil, natural gas, and resource companies. The stock sports a Zacks Rank #1 (Strong Buy).

The companys 25.2% trailing twelve-month return on equity is worth highlighting, reflecting higher efficiency in generating profits from existing assets relative to peers.

Image Source: Zacks Investment Research

The company has consistently delivered better-than-expected results, exceeding the Zacks Consensus EPS Estimate by an average of 18% over its last four quarters. Just in its latest release, the company delivered an 18.4% EPS beat paired with a 12.5% revenue surprise.

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