For those looking to find strong Transportation stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Seanergy Maritime Holdings Corp (SHIP) one of those stocks right now? 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.
Seanergy Maritime Holdings Corp is one of 100 companies in the Transportation group. The Transportation group currently sits at #9 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 proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Seanergy Maritime Holdings Corp is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for SHIP's full-year earnings has moved 49.8% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, SHIP has returned 57.1% so far this year. Meanwhile, the Transportation sector has returned an average of 8.5% on a year-to-date basis. This means that Seanergy Maritime Holdings Corp is outperforming the sector as a whole this year.
Another Transportation stock, which has outperformed the sector so far this year, is Teekay Tankers (TNK). The stock has returned 39.3% year-to-date.
The consensus estimate for Teekay Tankers' current year EPS has increased 44.6% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Seanergy Maritime Holdings Corp belongs to the Transportation - Shipping industry, a group that includes 22 individual companies and currently sits at #51 in the Zacks Industry Rank. On average, this group has gained an average of 37.1% so far this year, meaning that SHIP is performing better in terms of year-to-date returns. Teekay Tankers is also part of the same industry.
Going forward, investors interested in Transportation stocks should continue to pay close attention to Seanergy Maritime Holdings Corp and Teekay Tankers as they could maintain their solid performance.
#1 Semiconductor Stock to Buy (Not NVDA)
The incredible demand for data is fueling the market's next digital gold rush. As data centers continue to be built and constantly upgraded, the companies that provide the hardware for these behemoths will become the NVIDIAs of tomorrow.
One under-the-radar chipmaker is uniquely positioned to take advantage of the next growth stage of this market. It specializes in semiconductor products that titans like NVIDIA don't build. It's just beginning to enter the spotlight, which is exactly where you want to be.
See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Seanergy Maritime Holdings Corp (SHIP): Free Stock Analysis Report
Teekay Tankers Ltd. (TNK): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).