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Has KNOT Offshore Partners (KNOP) Outpaced Other Transportation Stocks 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. 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 the Transportation sector. This group includes 141 individual stocks and currently holds a Zacks Sector Rank of #3. 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 system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Knot Offshore is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past three months, the Zacks Consensus Estimate for KNOP's full-year earnings has moved 22.6% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Our latest available data shows that KNOP has returned about 16.8% since the start of the calendar year. At the same time, Transportation stocks have lost an average of 18.7%. This shows that Knot Offshore is outperforming its peers so far this year.

One other Transportation stock that has outperformed the sector so far this year is Navios Maritime Partners LP (NMM - Free Report) . The stock is up 2% year-to-date.

The consensus estimate for Navios Maritime Partners LP's current year EPS has increased 18% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

Looking more specifically, Knot Offshore belongs to the Transportation - Shipping industry, a group that includes 43 individual stocks and currently sits at #29 in the Zacks Industry Rank. On average, this group has gained an average of 23.1% so far this year, meaning that KNOP is slightly underperforming its industry in terms of year-to-date returns. Navios Maritime Partners LP is also part of the same industry.

Knot Offshore and Navios Maritime Partners LP could continue their solid performance, so investors interested in Transportation stocks should continue to pay close attention to these stocks.


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