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Are Transportation Stocks Lagging Air Canada (ACDVF) 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. Has Air Canada (ACDVF - 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.
Air Canada is one of 131 companies in the Transportation group. The Transportation group currently sits at #9 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 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. Air Canada is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ACDVF's full-year earnings has moved 62.6% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, ACDVF has moved about 14.2% on a year-to-date basis. At the same time, Transportation stocks have gained an average of 8.3%. As we can see, Air Canada is performing better than its sector in the calendar year.
Covenant Logistics (CVLG - 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 42.5%.
The consensus estimate for Covenant Logistics' current year EPS has increased 12.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Air Canada belongs to the Transportation - Airline industry, a group that includes 30 individual stocks and currently sits at #71 in the Zacks Industry Rank. This group has gained an average of 11.5% so far this year, so ACDVF is performing better in this area.
On the other hand, Covenant Logistics belongs to the Transportation - Truck industry. This 13-stock industry is currently ranked #243. The industry has moved +30.4% year to date.
Investors with an interest in Transportation stocks should continue to track Air Canada and Covenant Logistics. These stocks will be looking to continue their solid performance.
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Are Transportation Stocks Lagging Air Canada (ACDVF) This Year?
The Transportation group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Air Canada (ACDVF - 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.
Air Canada is one of 131 companies in the Transportation group. The Transportation group currently sits at #9 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 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. Air Canada is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ACDVF's full-year earnings has moved 62.6% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, ACDVF has moved about 14.2% on a year-to-date basis. At the same time, Transportation stocks have gained an average of 8.3%. As we can see, Air Canada is performing better than its sector in the calendar year.
Covenant Logistics (CVLG - 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 42.5%.
The consensus estimate for Covenant Logistics' current year EPS has increased 12.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Air Canada belongs to the Transportation - Airline industry, a group that includes 30 individual stocks and currently sits at #71 in the Zacks Industry Rank. This group has gained an average of 11.5% so far this year, so ACDVF is performing better in this area.
On the other hand, Covenant Logistics belongs to the Transportation - Truck industry. This 13-stock industry is currently ranked #243. The industry has moved +30.4% year to date.
Investors with an interest in Transportation stocks should continue to track Air Canada and Covenant Logistics. These stocks will be looking to continue their solid performance.