For those looking to find strong Transportation stocks, it is prudent to search for companies in the group that are outperforming their peers. Has International Seaways (INSW) 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.
International Seaways is a member of the Transportation sector. This group includes 132 individual stocks and currently holds a Zacks Sector Rank of #8. 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 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. International Seaways is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for INSW's full-year earnings has moved 5.6% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that INSW has returned about 5.4% since the start of the calendar year. Meanwhile, the Transportation sector has returned an average of 3.5% on a year-to-date basis. As we can see, International Seaways is performing better than its sector in the calendar year.
Nordic American Tankers (NAT) is another Transportation stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 11.1%.
For Nordic American Tankers, the consensus EPS estimate for the current year has increased 1.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, International Seaways belongs to the Transportation - Shipping industry, a group that includes 38 individual companies and currently sits at #113 in the Zacks Industry Rank. On average, this group has gained an average of 3% so far this year, meaning that INSW is performing better in terms of year-to-date returns. Nordic American Tankers is also part of the same industry.
Going forward, investors interested in Transportation stocks should continue to pay close attention to International Seaways and Nordic American Tankers as they could maintain their solid performance.
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