Investors focused on the Transportation space have likely heard of Matson (MATX - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Matson is a member of our Transportation group, which includes 144 different companies and currently sits at #7 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. MATX is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for MATX's full-year earnings has moved 6.47% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, MATX has gained about 20.98% so far this year. Meanwhile, stocks in the Transportation group have gained about 1.68% on average. This means that Matson is outperforming the sector as a whole this year.
To break things down more, MATX belongs to the Transportation - Services industry, a group that includes 24 individual companies and currently sits at #173 in the Zacks Industry Rank. This group has gained an average of 5.71% so far this year, so MATX is performing better in this area.
Investors in the Transportation sector will want to keep a close eye on MATX as it attempts to continue its solid performance.