Investors focused on the Transportation space have likely heard of Old Dominion Freight Line (ODFL - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of ODFL and the rest of the Transportation group's stocks.
Old Dominion Freight Line is one of 149 individual stocks in the Transportation sector. Collectively, these companies sit at #12 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 proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. ODFL is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ODFL's full-year earnings has moved 8.06% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, ODFL has moved about 15.45% on a year-to-date basis. In comparison, Transportation companies have returned an average of 1.87%. As we can see, Old Dominion Freight Line is performing better than its sector in the calendar year.
Looking more specifically, ODFL belongs to the Transportation - Truck industry, a group that includes 14 individual stocks and currently sits at #32 in the Zacks Industry Rank. Stocks in this group have gained about 1.52% so far this year, so ODFL is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Transportation stocks should continue to pay close attention to ODFL as it looks to continue its solid performance.