Investors interested in Transportation stocks should always be looking to find the best-performing companies in the group. Has Teekay Tankers (TNK) 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.
Teekay Tankers is a member of our Transportation group, which includes 99 different companies and currently sits at #4 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. Teekay Tankers is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for TNK's full-year earnings has moved 88.4% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, TNK has moved about 48.3% on a year-to-date basis. In comparison, Transportation companies have returned an average of 13%. This shows that Teekay Tankers is outperforming its peers so far this year.
One other Transportation stock that has outperformed the sector so far this year is Knight-Swift Transportation Holdings (KNX). The stock is up 41.6% year-to-date.
The consensus estimate for Knight-Swift Transportation Holdings' current year EPS has increased 10.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Teekay Tankers is a member of the Transportation - Shipping industry, which includes 22 individual companies and currently sits at #61 in the Zacks Industry Rank. On average, stocks in this group have gained 45% this year, meaning that TNK is performing better in terms of year-to-date returns.
Knight-Swift Transportation Holdings, however, belongs to the Transportation - Truck industry. Currently, this 12-stock industry is ranked #44. The industry has moved +40.5% so far this year.
Teekay Tankers and Knight-Swift Transportation Holdings could continue their solid performance, so investors interested in Transportation stocks should continue to pay close attention to these stocks.
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Teekay Tankers Ltd. (TNK): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).