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? 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.
Covenant Transportation Group is a member of our Transportation group, which includes 144 different companies and currently sits at #9 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. CVTI is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for CVTI's full-year earnings has moved 17.52% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that CVTI has returned about 4.87% since the start of the calendar year. Meanwhile, the Transportation sector has returned an average of 3.59% on a year-to-date basis. 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 #11 in the Zacks Industry Rank. On average, stocks in this group have gained 4.77% this year, meaning that CVTI is performing better in terms of year-to-date returns.
CVTI will likely be looking to continue its solid performance, so investors interested Transportation stocks should continue to pay close attention to the company.