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Has Golden Ocean Group (GOGL) Outpaced Other Transportation Stocks This Year?
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Investors interested in Transportation stocks should always be looking to find the best-performing companies in the group. Has Golden Ocean Group (GOGL - Free Report) been one of those stocks this year? 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.
Golden Ocean Group is a member of the Transportation sector. This group includes 141 individual stocks and currently holds a Zacks Sector Rank of #3. 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. Golden Ocean Group is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for GOGL's full-year earnings has moved 56.4% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that GOGL has returned about 68.8% since the start of the calendar year. Meanwhile, the Transportation sector has returned an average of -13.8% on a year-to-date basis. This means that Golden Ocean Group is outperforming the sector as a whole this year.
Another stock in the Transportation sector, Marten Transport, Ltd. (MRTN - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 0.5%.
In Marten Transport, Ltd.'s case, the consensus EPS estimate for the current year increased 9.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Golden Ocean Group is a member of the Transportation - Shipping industry, which includes 43 individual companies and currently sits at #24 in the Zacks Industry Rank. Stocks in this group have gained about 38.4% so far this year, so GOGL is performing better this group in terms of year-to-date returns.
Marten Transport, Ltd. however, belongs to the Transportation - Truck industry. Currently, this 13-stock industry is ranked #69. The industry has moved -26.1% so far this year.
Going forward, investors interested in Transportation stocks should continue to pay close attention to Golden Ocean Group and Marten Transport, Ltd. as they could maintain their solid performance.
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Has Golden Ocean Group (GOGL) Outpaced Other Transportation Stocks This Year?
Investors interested in Transportation stocks should always be looking to find the best-performing companies in the group. Has Golden Ocean Group (GOGL - Free Report) been one of those stocks this year? 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.
Golden Ocean Group is a member of the Transportation sector. This group includes 141 individual stocks and currently holds a Zacks Sector Rank of #3. 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. Golden Ocean Group is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for GOGL's full-year earnings has moved 56.4% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that GOGL has returned about 68.8% since the start of the calendar year. Meanwhile, the Transportation sector has returned an average of -13.8% on a year-to-date basis. This means that Golden Ocean Group is outperforming the sector as a whole this year.
Another stock in the Transportation sector, Marten Transport, Ltd. (MRTN - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 0.5%.
In Marten Transport, Ltd.'s case, the consensus EPS estimate for the current year increased 9.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Golden Ocean Group is a member of the Transportation - Shipping industry, which includes 43 individual companies and currently sits at #24 in the Zacks Industry Rank. Stocks in this group have gained about 38.4% so far this year, so GOGL is performing better this group in terms of year-to-date returns.
Marten Transport, Ltd. however, belongs to the Transportation - Truck industry. Currently, this 13-stock industry is ranked #69. The industry has moved -26.1% so far this year.
Going forward, investors interested in Transportation stocks should continue to pay close attention to Golden Ocean Group and Marten Transport, Ltd. as they could maintain their solid performance.