For those looking to find strong Transportation stocks, it is prudent to search for companies in the group that are outperforming their peers. Is CSX (CSX - Free Report) one of those stocks right now? 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.
CSX is a member of our Transportation group, which includes 144 different companies and currently sits at #11 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 model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. CSX is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for CSX's full-year earnings has moved 9.43% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that CSX has returned about 31.16% since the start of the calendar year. Meanwhile, the Transportation sector has returned an average of 1.50% on a year-to-date basis. This means that CSX is outperforming the sector as a whole this year.
Looking more specifically, CSX belongs to the Transportation - Rail industry, which includes 10 individual stocks and currently sits at #20 in the Zacks Industry Rank. Stocks in this group have gained about 14.74% so far this year, so CSX is performing better this group in terms of year-to-date returns.
Investors in the Transportation sector will want to keep a close eye on CSX as it attempts to continue its solid performance.