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 152 companies in the Transportation group. The Transportation group currently sits at #6 within 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 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. ODFL is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ODFL's full-year earnings has moved 4.37% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, ODFL has returned 4.38% so far this year. In comparison, Transportation companies have returned an average of -1.91%. 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 #56 in the Zacks Industry Rank. On average, this group has lost an average of 4.40% so far this year, meaning that ODFL is performing better 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.