Investors interested in Transportation stocks should always be looking to find the best-performing companies in the group. Is EuroDry (EDRY) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
EuroDry is one of 110 individual stocks in the Transportation sector. Collectively, these companies sit at #4 in 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. EuroDry is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for EDRY's full-year earnings has moved 49.1% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that EDRY has returned about 347.6% since the start of the calendar year. In comparison, Transportation companies have returned an average of 11.3%. This means that EuroDry is outperforming the sector as a whole this year.
Marten Transport, Ltd. (MRTN) is another Transportation stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 26.5%.
In Marten Transport, Ltd.'s case, the consensus EPS estimate for the current year increased 22.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, EuroDry belongs to the Transportation - Shipping industry, a group that includes 28 individual stocks and currently sits at #38 in the Zacks Industry Rank. On average, this group has gained an average of 64.8% so far this year, meaning that EDRY is performing better in terms of year-to-date returns.
On the other hand, Marten Transport, Ltd. belongs to the Transportation - Truck industry. This 12-stock industry is currently ranked #32. The industry has moved +29.6% year to date.
Investors with an interest in Transportation stocks should continue to track EuroDry and Marten Transport, Ltd.. These stocks will be looking to continue their solid performance.
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This article originally published on Zacks Investment Research (zacks.com).