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Has Golden Ocean Group (GOGL) Outpaced Other Transportation Stocks This Year?
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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. Has Golden Ocean Group (GOGL - 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.
Golden Ocean Group is one of 140 companies in the Transportation group. The Transportation group currently sits at #3 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Golden Ocean Group is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for GOGL's full-year earnings has moved 5.4% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, GOGL has moved about 23.4% on a year-to-date basis. Meanwhile, the Transportation sector has returned an average of -3.2% on a year-to-date basis. This means that Golden Ocean Group is performing better than its sector in terms of year-to-date returns.
Another Transportation stock, which has outperformed the sector so far this year, is Schneider National (SNDR - Free Report) . The stock has returned 0.3% year-to-date.
Over the past three months, Schneider National's consensus EPS estimate for the current year has increased 11%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Golden Ocean Group belongs to the Transportation - Shipping industry, a group that includes 43 individual stocks and currently sits at #92 in the Zacks Industry Rank. This group has gained an average of 22.7% so far this year, so GOGL is performing better in this area.
In contrast, Schneider National falls under the Transportation - Services industry. Currently, this industry has 30 stocks and is ranked #69. Since the beginning of the year, the industry has moved -9.7%.
Going forward, investors interested in Transportation stocks should continue to pay close attention to Golden Ocean Group and Schneider National as they could maintain their solid performance.
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Has Golden Ocean Group (GOGL) Outpaced Other Transportation Stocks This Year?
For those looking to find strong Transportation stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Golden Ocean Group (GOGL - 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.
Golden Ocean Group is one of 140 companies in the Transportation group. The Transportation group currently sits at #3 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Golden Ocean Group is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for GOGL's full-year earnings has moved 5.4% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, GOGL has moved about 23.4% on a year-to-date basis. Meanwhile, the Transportation sector has returned an average of -3.2% on a year-to-date basis. This means that Golden Ocean Group is performing better than its sector in terms of year-to-date returns.
Another Transportation stock, which has outperformed the sector so far this year, is Schneider National (SNDR - Free Report) . The stock has returned 0.3% year-to-date.
Over the past three months, Schneider National's consensus EPS estimate for the current year has increased 11%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Golden Ocean Group belongs to the Transportation - Shipping industry, a group that includes 43 individual stocks and currently sits at #92 in the Zacks Industry Rank. This group has gained an average of 22.7% so far this year, so GOGL is performing better in this area.
In contrast, Schneider National falls under the Transportation - Services industry. Currently, this industry has 30 stocks and is ranked #69. Since the beginning of the year, the industry has moved -9.7%.
Going forward, investors interested in Transportation stocks should continue to pay close attention to Golden Ocean Group and Schneider National as they could maintain their solid performance.