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Is FedEx (FDX) Stock Outpacing Its Transportation Peers 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 FedEx (FDX - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
FedEx is one of 142 individual stocks in the Transportation sector. Collectively, these companies sit at #5 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 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. FDX is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for FDX's full-year earnings has moved 8.97% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, FDX has moved about 16.55% on a year-to-date basis. Meanwhile, stocks in the Transportation group have gained about 13.35% on average. This means that FedEx is outperforming the sector as a whole this year.
Breaking things down more, FDX is a member of the Transportation - Air Freight and Cargo industry, which includes 4 individual companies and currently sits at #6 in the Zacks Industry Rank. Stocks in this group have gained about 22.37% so far this year, so FDX is slightly underperforming its industry this group in terms of year-to-date returns.
Going forward, investors interested in Transportation stocks should continue to pay close attention to FDX as it looks to continue its solid performance.
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Is FedEx (FDX) Stock Outpacing Its Transportation Peers This Year?
The Transportation group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has FedEx (FDX - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
FedEx is one of 142 individual stocks in the Transportation sector. Collectively, these companies sit at #5 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 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. FDX is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for FDX's full-year earnings has moved 8.97% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, FDX has moved about 16.55% on a year-to-date basis. Meanwhile, stocks in the Transportation group have gained about 13.35% on average. This means that FedEx is outperforming the sector as a whole this year.
Breaking things down more, FDX is a member of the Transportation - Air Freight and Cargo industry, which includes 4 individual companies and currently sits at #6 in the Zacks Industry Rank. Stocks in this group have gained about 22.37% so far this year, so FDX is slightly underperforming its industry this group in terms of year-to-date returns.
Going forward, investors interested in Transportation stocks should continue to pay close attention to FDX as it looks to continue its solid performance.