Yahoo Finance Is Golden Ocean Group (GOGL) Stock Outpacing Its Transportation Peers This Year?
The Transportation group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Golden Ocean Group (GOGL) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Golden Ocean Group is a member of the Transportation sector. This group includes 132 individual stocks and currently holds a Zacks Sector Rank of #12. 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 proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Golden Ocean Group is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for GOGL's full-year earnings has moved 53.5% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, GOGL has moved about 34.1% on a year-to-date basis. Meanwhile, the Transportation sector has returned an average of -1.4% on a year-to-date basis. This means that Golden Ocean Group is outperforming the sector as a whole this year.
One other Transportation stock that has outperformed the sector so far this year is Teekay Tankers (TNK). The stock is up 12.6% year-to-date.
The consensus estimate for Teekay Tankers' current year EPS has increased 7.2% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Golden Ocean Group belongs to the Transportation - Shipping industry, a group that includes 38 individual companies and currently sits at #56 in the Zacks Industry Rank. This group has gained an average of 2.5% so far this year, so GOGL is performing better in this area. Teekay Tankers is also part of the same industry.
Investors with an interest in Transportation stocks should continue to track Golden Ocean Group and Teekay Tankers. These stocks will be looking to continue their solid performance.
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Golden Ocean Group Limited (GOGL) : Free Stock Analysis Report
Teekay Tankers Ltd. (TNK) : Free Stock Analysis Report
