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Are Transportation Stocks Lagging TEEKAY TANK LTD (TNK) 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 Teekay Tankers (TNK - 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.
Teekay Tankers is one of 122 companies in the Transportation group. The Transportation group currently sits at #3 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Teekay Tankers is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for TNK's full-year earnings has moved 8.8% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that TNK has returned about 36.6% since the start of the calendar year. In comparison, Transportation companies have returned an average of 2.9%. This shows that Teekay Tankers is outperforming its peers so far this year.
One other Transportation stock that has outperformed the sector so far this year is Westinghouse Air Brake Technologies (WAB - Free Report) . The stock is up 15.7% year-to-date.
The consensus estimate for Westinghouse Air Brake Technologies' current year EPS has increased 0.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Teekay Tankers belongs to the Transportation - Shipping industry, a group that includes 39 individual companies and currently sits at #33 in the Zacks Industry Rank. On average, stocks in this group have gained 9% this year, meaning that TNK is performing better in terms of year-to-date returns.
In contrast, Westinghouse Air Brake Technologies falls under the Transportation - Equipment and Leasing industry. Currently, this industry has 10 stocks and is ranked #71. Since the beginning of the year, the industry has moved +16%.
Investors interested in the Transportation sector may want to keep a close eye on Teekay Tankers and Westinghouse Air Brake Technologies as they attempt to continue their solid performance.
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Are Transportation Stocks Lagging TEEKAY TANK LTD (TNK) This Year?
Investors interested in Transportation stocks should always be looking to find the best-performing companies in the group. Has Teekay Tankers (TNK - 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.
Teekay Tankers is one of 122 companies in the Transportation group. The Transportation group currently sits at #3 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Teekay Tankers is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for TNK's full-year earnings has moved 8.8% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that TNK has returned about 36.6% since the start of the calendar year. In comparison, Transportation companies have returned an average of 2.9%. This shows that Teekay Tankers is outperforming its peers so far this year.
One other Transportation stock that has outperformed the sector so far this year is Westinghouse Air Brake Technologies (WAB - Free Report) . The stock is up 15.7% year-to-date.
The consensus estimate for Westinghouse Air Brake Technologies' current year EPS has increased 0.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Teekay Tankers belongs to the Transportation - Shipping industry, a group that includes 39 individual companies and currently sits at #33 in the Zacks Industry Rank. On average, stocks in this group have gained 9% this year, meaning that TNK is performing better in terms of year-to-date returns.
In contrast, Westinghouse Air Brake Technologies falls under the Transportation - Equipment and Leasing industry. Currently, this industry has 10 stocks and is ranked #71. Since the beginning of the year, the industry has moved +16%.
Investors interested in the Transportation sector may want to keep a close eye on Teekay Tankers and Westinghouse Air Brake Technologies as they attempt to continue their solid performance.