The Transportation group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Covenant Transportation Group (CVTI - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Covenant Transportation Group is one of 144 individual stocks in the Transportation sector. Collectively, these companies sit at #10 in 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. CVTI is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for CVTI's full-year earnings has moved 17.64% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, CVTI has moved about 4.49% on a year-to-date basis. In comparison, Transportation companies have returned an average of 1.85%. As we can see, Covenant Transportation Group is performing better than its sector in the calendar year.
Breaking things down more, CVTI is a member of the Transportation - Truck industry, which includes 17 individual companies and currently sits at #3 in the Zacks Industry Rank. On average, stocks in this group have gained 3.22% this year, meaning that CVTI is performing better in terms of year-to-date returns.
Investors with an interest in Transportation stocks should continue to track CVTI. The stock will be looking to continue its solid performance.