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Is Ardmore Shipping (ASC) Outperforming Other Transportation Stocks This Year?
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The Transportation group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Ardmore Shipping (ASC - Free Report) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Transportation sector should help us answer this question.
Ardmore Shipping is one of 138 individual stocks in the Transportation sector. Collectively, these companies sit at #6 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 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. Ardmore Shipping is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for ASC's full-year earnings has moved 39.7% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, ASC has moved about 338.8% on a year-to-date basis. At the same time, Transportation stocks have lost an average of 14.9%. This means that Ardmore Shipping is performing better than its sector in terms of year-to-date returns.
One other Transportation stock that has outperformed the sector so far this year is Frontline (FRO - Free Report) . The stock is up 91.4% year-to-date.
The consensus estimate for Frontline's current year EPS has increased 25.4% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Ardmore Shipping belongs to the Transportation - Shipping industry, a group that includes 41 individual companies and currently sits at #79 in the Zacks Industry Rank. On average, this group has gained an average of 31.5% so far this year, meaning that ASC is performing better in terms of year-to-date returns. Frontline is also part of the same industry.
Going forward, investors interested in Transportation stocks should continue to pay close attention to Ardmore Shipping and Frontline as they could maintain their solid performance.
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Is Ardmore Shipping (ASC) Outperforming Other Transportation Stocks This Year?
The Transportation group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Ardmore Shipping (ASC - Free Report) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Transportation sector should help us answer this question.
Ardmore Shipping is one of 138 individual stocks in the Transportation sector. Collectively, these companies sit at #6 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 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. Ardmore Shipping is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for ASC's full-year earnings has moved 39.7% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, ASC has moved about 338.8% on a year-to-date basis. At the same time, Transportation stocks have lost an average of 14.9%. This means that Ardmore Shipping is performing better than its sector in terms of year-to-date returns.
One other Transportation stock that has outperformed the sector so far this year is Frontline (FRO - Free Report) . The stock is up 91.4% year-to-date.
The consensus estimate for Frontline's current year EPS has increased 25.4% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Ardmore Shipping belongs to the Transportation - Shipping industry, a group that includes 41 individual companies and currently sits at #79 in the Zacks Industry Rank. On average, this group has gained an average of 31.5% so far this year, meaning that ASC is performing better in terms of year-to-date returns. Frontline is also part of the same industry.
Going forward, investors interested in Transportation stocks should continue to pay close attention to Ardmore Shipping and Frontline as they could maintain their solid performance.