For those looking to find strong Transportation stocks, it is prudent to search for companies in the group that are outperforming their peers. Danaos (DAC - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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.
Danaos is a member of the Transportation sector. This group includes 140 individual stocks and currently holds a Zacks Sector Rank of #5. 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Danaos is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for DAC's full-year earnings has moved 40.5% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, DAC has moved about 42.9% on a year-to-date basis. In comparison, Transportation companies have returned an average of -0.5%. This shows that Danaos is outperforming its peers so far this year.
Another Transportation stock, which has outperformed the sector so far this year, is Genco Shipping & Trading (GNK - Free Report) . The stock has returned 25.8% year-to-date.
In Genco Shipping & Trading's case, the consensus EPS estimate for the current year increased 4.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Danaos belongs to the Transportation - Shipping industry, a group that includes 43 individual stocks and currently sits at #91 in the Zacks Industry Rank. This group has gained an average of 29% so far this year, so DAC is performing better in this area. Genco Shipping & Trading is also part of the same industry.
Investors interested in the Transportation sector may want to keep a close eye on Danaos and Genco Shipping & Trading as they attempt to continue their solid performance.
Just Released: Zacks Top 10 Stocks for 2024
Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.
See New Top 10 Stocks >>
For those looking to find strong Transportation stocks, it is prudent to search for companies in the group that are outperforming their peers. Danaos (DAC - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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.
Danaos is a member of the Transportation sector. This group includes 140 individual stocks and currently holds a Zacks Sector Rank of #5. 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Danaos is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for DAC's full-year earnings has moved 40.5% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, DAC has moved about 42.9% on a year-to-date basis. In comparison, Transportation companies have returned an average of -0.5%. This shows that Danaos is outperforming its peers so far this year.
Another Transportation stock, which has outperformed the sector so far this year, is Genco Shipping & Trading (GNK - Free Report) . The stock has returned 25.8% year-to-date.
In Genco Shipping & Trading's case, the consensus EPS estimate for the current year increased 4.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Danaos belongs to the Transportation - Shipping industry, a group that includes 43 individual stocks and currently sits at #91 in the Zacks Industry Rank. This group has gained an average of 29% so far this year, so DAC is performing better in this area. Genco Shipping & Trading is also part of the same industry.
Investors interested in the Transportation sector may want to keep a close eye on Danaos and Genco Shipping & Trading as they attempt to continue their solid performance.
Just Released: Zacks Top 10 Stocks for 2024
Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.
See New Top 10 Stocks >>
Get the latest research report on GNK - FREE
Get the latest research report on DAC - FREE