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Has Covenant Logistics Group (CVLG) 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 Covenant Logistics (CVLG - Free Report) been one of those stocks this year? 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.

Covenant Logistics is one of 143 companies in the Transportation group. The Transportation group currently sits at #2 within 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. Covenant Logistics is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for CVLG's full-year earnings has moved 22.9% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Based on the most recent data, CVLG has returned 0.1% so far this year. Meanwhile, the Transportation sector has returned an average of -16.2% on a year-to-date basis. As we can see, Covenant Logistics is performing better than its sector in the calendar year.

Golar LNG (GLNG - Free Report) is another Transportation stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 81.8%.

For Golar LNG, the consensus EPS estimate for the current year has increased 25.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

To break things down more, Covenant Logistics belongs to the Transportation - Truck industry, a group that includes 13 individual companies and currently sits at #21 in the Zacks Industry Rank. Stocks in this group have lost about 22.6% so far this year, so CVLG is performing better this group in terms of year-to-date returns.

Golar LNG, however, belongs to the Transportation - Shipping industry. Currently, this 46-stock industry is ranked #28. The industry has moved +14.6% so far this year.

Covenant Logistics and Golar LNG could continue their solid performance, so investors interested in Transportation stocks should continue to pay close attention to these stocks.


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