From Nasdaq:

In a shortened week of trading, several building products stocks are standing out among the Zacks Construction sector. These companies are benefiting from the sector currently ranking second out of the 16 Zacks sectors. Landing spots on the Zacks Rank #1 (Strong Buy) list this week, let’s take a look at three of the top building products stocks at the moment.

Image Source: Zacks Investment Research
Gibraltar Industries (ROCK) is in the top 30% of over 250 Zacks industries and it provides ventilation, expanded metal, mail storage solutions, and rain dispersion products. Their stock has soared +54% over the last year and is expected to expand by 12% in FY24 to $4.63 per share.

Granite Construction’s stock is very enticing right now with its Zacks Building Products-Heavy Construction Industry being in the top 42% of all Zacks industries. The company is benefiting as one of the nation’s largest infrastructure contractors and construction materials producers. Its annual earnings are projected to be up 35% in FY23 to $3.12 per share, versus $2.31 a share in 2022.

Image Source: Zacks Investment Research
Lennox International’s stock is certainly worthy of consideration, with its Zacks Building Products-Air Conditioner and Heating Industry being in the top 6% of all Zacks industries. Lennox’s steady top and bottom line growth shouldn’t be ignored, with its stock skyrocketing +70% over the last year. Forecast of 26% EPS growth to round out FY23 and expectations of another 11% earnings growth in FY24 to $19.83 per share is extremely appealing.

The growth and expansion of these key construction sector players looks likely to continue in 2024, making an ideal time to buy. Additionally, a global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028, making it a promising industry to invest in.



Read more: 3 Building Products Stocks Highlighting the Zacks Rank #1 Strong Buy List This Week