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Is Covenant Logistics Group (CVLG) Outperforming 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? 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.
Covenant Logistics is a member of our Transportation group, which includes 138 different companies and currently sits at #6 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. 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 16.3% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, CVLG has moved about 39.5% on a year-to-date basis. Meanwhile, stocks in the Transportation group have lost about 21.6% on average. This means that Covenant Logistics is performing better than its sector in terms of year-to-date returns.
Tsakos Energy (TNP - 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 142.3%.
Over the past three months, Tsakos Energy's consensus EPS estimate for the current year has increased 29.7%. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Covenant Logistics is a member of the Transportation - Truck industry, which includes 12 individual companies and currently sits at #97 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.
On the other hand, Tsakos Energy belongs to the Transportation - Shipping industry. This 41-stock industry is currently ranked #65. The industry has moved +29.2% year to date.
Covenant Logistics and Tsakos Energy could continue their solid performance, so investors interested in Transportation stocks should continue to pay close attention to these stocks.
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Is Covenant Logistics Group (CVLG) Outperforming Other Transportation Stocks This Year?
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? 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.
Covenant Logistics is a member of our Transportation group, which includes 138 different companies and currently sits at #6 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. 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 16.3% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, CVLG has moved about 39.5% on a year-to-date basis. Meanwhile, stocks in the Transportation group have lost about 21.6% on average. This means that Covenant Logistics is performing better than its sector in terms of year-to-date returns.
Tsakos Energy (TNP - 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 142.3%.
Over the past three months, Tsakos Energy's consensus EPS estimate for the current year has increased 29.7%. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Covenant Logistics is a member of the Transportation - Truck industry, which includes 12 individual companies and currently sits at #97 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.
On the other hand, Tsakos Energy belongs to the Transportation - Shipping industry. This 41-stock industry is currently ranked #65. The industry has moved +29.2% year to date.
Covenant Logistics and Tsakos Energy could continue their solid performance, so investors interested in Transportation stocks should continue to pay close attention to these stocks.