Investors focused on the Transportation space have likely heard of Echo Global Logistics (ECHO - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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.
Echo Global Logistics is one of 144 individual stocks in the Transportation sector. Collectively, these companies sit 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 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. ECHO is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for ECHO's full-year earnings has moved 22.94% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that ECHO has returned about 17.86% since the start of the calendar year. Meanwhile, the Transportation sector has returned an average of 1.50% on a year-to-date basis. As we can see, Echo Global Logistics is performing better than its sector in the calendar year.
Breaking things down more, ECHO is a member of the Transportation - Services industry, which includes 24 individual companies and currently sits at #178 in the Zacks Industry Rank. Stocks in this group have gained about 5.16% so far this year, so ECHO 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 ECHO as it attempts to continue its solid performance.