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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. Teekay Tankers (TNK - 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.
Teekay Tankers is a member of our Transportation group, which includes 99 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. Teekay Tankers is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for TNK's full-year earnings has moved 88.4% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, TNK has gained about 45.5% so far this year. In comparison, Transportation companies have returned an average of 9.8%. This means that Teekay Tankers is outperforming the sector as a whole 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 19.5% year-to-date.
In Westinghouse Air Brake Technologies' case, the consensus EPS estimate for the current year increased 2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Teekay Tankers belongs to the Transportation - Shipping industry, which includes 22 individual stocks and currently sits at #40 in the Zacks Industry Rank. On average, stocks in this group have gained 49% this year, meaning that TNK is slightly underperforming its industry in terms of year-to-date returns.
Westinghouse Air Brake Technologies, however, belongs to the Transportation - Equipment and Leasing industry. Currently, this 9-stock industry is ranked #207. The industry has moved +7.1% so far this year.
Teekay Tankers and Westinghouse Air Brake Technologies 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 TEEKAY TANK LTD (TNK) This Year?
Investors interested in Transportation stocks should always be looking to find the best-performing companies in the group. Teekay Tankers (TNK - 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.
Teekay Tankers is a member of our Transportation group, which includes 99 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. Teekay Tankers is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for TNK's full-year earnings has moved 88.4% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, TNK has gained about 45.5% so far this year. In comparison, Transportation companies have returned an average of 9.8%. This means that Teekay Tankers is outperforming the sector as a whole 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 19.5% year-to-date.
In Westinghouse Air Brake Technologies' case, the consensus EPS estimate for the current year increased 2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Teekay Tankers belongs to the Transportation - Shipping industry, which includes 22 individual stocks and currently sits at #40 in the Zacks Industry Rank. On average, stocks in this group have gained 49% this year, meaning that TNK is slightly underperforming its industry in terms of year-to-date returns.
Westinghouse Air Brake Technologies, however, belongs to the Transportation - Equipment and Leasing industry. Currently, this 9-stock industry is ranked #207. The industry has moved +7.1% so far this year.
Teekay Tankers and Westinghouse Air Brake Technologies could continue their solid performance, so investors interested in Transportation stocks should continue to pay close attention to these stocks.