For those looking to find strong Transportation stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Knot Offshore (KNOP - Free Report) one of those stocks right now? 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.
Knot Offshore is a member of our Transportation group, which includes 143 different companies and currently sits at #2 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. Knot Offshore is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for KNOP's full-year earnings has moved 22.6% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that KNOP has returned about 34.3% since the start of the calendar year. Meanwhile, the Transportation sector has returned an average of -16.9% on a year-to-date basis. This shows that Knot Offshore is outperforming its peers so far this year.
Star Bulk Carriers (SBLK - Free Report) is another Transportation stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 8.1%.
Over the past three months, Star Bulk Carriers' consensus EPS estimate for the current year has increased 17.8%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Knot Offshore belongs to the Transportation - Shipping industry, a group that includes 46 individual companies and currently sits at #27 in the Zacks Industry Rank. On average, this group has gained an average of 18% so far this year, meaning that KNOP is performing better in terms of year-to-date returns. Star Bulk Carriers is also part of the same industry.
Knot Offshore and Star Bulk Carriers could continue their solid performance, so investors interested in Transportation stocks should continue to pay close attention to these stocks.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
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For those looking to find strong Transportation stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Knot Offshore (KNOP - Free Report) one of those stocks right now? 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.
Knot Offshore is a member of our Transportation group, which includes 143 different companies and currently sits at #2 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. Knot Offshore is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for KNOP's full-year earnings has moved 22.6% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that KNOP has returned about 34.3% since the start of the calendar year. Meanwhile, the Transportation sector has returned an average of -16.9% on a year-to-date basis. This shows that Knot Offshore is outperforming its peers so far this year.
Star Bulk Carriers (SBLK - Free Report) is another Transportation stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 8.1%.
Over the past three months, Star Bulk Carriers' consensus EPS estimate for the current year has increased 17.8%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Knot Offshore belongs to the Transportation - Shipping industry, a group that includes 46 individual companies and currently sits at #27 in the Zacks Industry Rank. On average, this group has gained an average of 18% so far this year, meaning that KNOP is performing better in terms of year-to-date returns. Star Bulk Carriers is also part of the same industry.
Knot Offshore and Star Bulk Carriers could continue their solid performance, so investors interested in Transportation stocks should continue to pay close attention to these stocks.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
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