Investors interested in Transportation stocks should always be looking to find the best-performing companies in the group. Has Matson (MATX) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Transportation peers, we might be able to answer that question.
Matson is one of 110 companies in the Transportation group. The Transportation group currently sits at #5 within 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 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. Matson is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for MATX's full-year earnings has moved 14.7% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, MATX has returned 93.1% so far this year. Meanwhile, stocks in the Transportation group have gained about 9.2% on average. This means that Matson is performing better than its sector in terms of year-to-date returns.
Another Transportation stock, which has outperformed the sector so far this year, is Seanergy Maritime Holdings Corp (SHIP). The stock has returned 100.4% year-to-date.
In Seanergy Maritime Holdings Corp's case, the consensus EPS estimate for the current year increased 17% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Matson belongs to the Transportation - Services industry, a group that includes 20 individual stocks and currently sits at #88 in the Zacks Industry Rank. On average, stocks in this group have lost 1.3% this year, meaning that MATX is performing better in terms of year-to-date returns.
On the other hand, Seanergy Maritime Holdings Corp belongs to the Transportation - Shipping industry. This 28-stock industry is currently ranked #47. The industry has moved +70.2% year to date.
Investors interested in the Transportation sector may want to keep a close eye on Matson and Seanergy Maritime Holdings Corp as they attempt to continue their solid performance.
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This article originally published on Zacks Investment Research (zacks.com).