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Has Danaos (DAC) Outpaced Other Transportation Stocks This Year?
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Investors focused on the Transportation space have likely heard of Danaos (DAC - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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 one of 140 individual stocks in the Transportation sector. Collectively, these companies sit at #15 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. DAC 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 52.99% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that DAC has returned about 83.99% since the start of the calendar year. At the same time, Transportation stocks have gained an average of 3.25%. This shows that Danaos is outperforming its peers so far this year.
To break things down more, DAC belongs to the Transportation - Shipping industry, a group that includes 42 individual companies and currently sits at #215 in the Zacks Industry Rank. This group has gained an average of 32.78% so far this year, so DAC is performing better in this area.
Investors with an interest in Transportation stocks should continue to track DAC. The stock will be looking to continue its solid performance.
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Has Danaos (DAC) Outpaced Other Transportation Stocks This Year?
Investors focused on the Transportation space have likely heard of Danaos (DAC - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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 one of 140 individual stocks in the Transportation sector. Collectively, these companies sit at #15 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. DAC 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 52.99% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that DAC has returned about 83.99% since the start of the calendar year. At the same time, Transportation stocks have gained an average of 3.25%. This shows that Danaos is outperforming its peers so far this year.
To break things down more, DAC belongs to the Transportation - Shipping industry, a group that includes 42 individual companies and currently sits at #215 in the Zacks Industry Rank. This group has gained an average of 32.78% so far this year, so DAC is performing better in this area.
Investors with an interest in Transportation stocks should continue to track DAC. The stock will be looking to continue its solid performance.