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Are Transportation Stocks Lagging Golden Ocean Group (GOGL) This Year?
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For those looking to find strong Transportation stocks, it is prudent to search for companies in the group that are outperforming their peers. Golden Ocean Group (GOGL - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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.
Golden Ocean Group is one of 133 individual stocks in the Transportation sector. Collectively, these companies sit at #15 in 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. 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 53.5% 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 32% since the start of the calendar year. In comparison, Transportation companies have returned an average of 2.9%. This means that Golden Ocean Group is outperforming the sector as a whole this year.
Ryanair (RYAAY - 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 8.1%.
For Ryanair, the consensus EPS estimate for the current year has increased 1.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Golden Ocean Group belongs to the Transportation - Shipping industry, a group that includes 39 individual companies and currently sits at #80 in the Zacks Industry Rank. On average, stocks in this group have gained 12.8% this year, meaning that GOGL is performing better in terms of year-to-date returns.
Ryanair, however, belongs to the Transportation - Airline industry. Currently, this 32-stock industry is ranked #48. The industry has moved +3.1% so far this year.
Golden Ocean Group and Ryanair could continue their solid performance, so investors interested in Transportation stocks should continue to pay close attention to these stocks.
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Are Transportation Stocks Lagging Golden Ocean Group (GOGL) This Year?
For those looking to find strong Transportation stocks, it is prudent to search for companies in the group that are outperforming their peers. Golden Ocean Group (GOGL - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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.
Golden Ocean Group is one of 133 individual stocks in the Transportation sector. Collectively, these companies sit at #15 in 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. 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 53.5% 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 32% since the start of the calendar year. In comparison, Transportation companies have returned an average of 2.9%. This means that Golden Ocean Group is outperforming the sector as a whole this year.
Ryanair (RYAAY - 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 8.1%.
For Ryanair, the consensus EPS estimate for the current year has increased 1.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Golden Ocean Group belongs to the Transportation - Shipping industry, a group that includes 39 individual companies and currently sits at #80 in the Zacks Industry Rank. On average, stocks in this group have gained 12.8% this year, meaning that GOGL is performing better in terms of year-to-date returns.
Ryanair, however, belongs to the Transportation - Airline industry. Currently, this 32-stock industry is ranked #48. The industry has moved +3.1% so far this year.
Golden Ocean Group and Ryanair could continue their solid performance, so investors interested in Transportation stocks should continue to pay close attention to these stocks.