Investors focused on the Transportation space have likely heard of Canadian Pacific Railway (CP - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? By taking a look at the stock's year-to-date performance in comparison to its Transportation peers, we might be able to answer that question.
Canadian Pacific Railway is one of 152 individual stocks in the Transportation sector. Collectively, these companies sit at #6 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 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. CP is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for CP's full-year earnings has moved 6.12% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, CP has moved about 15.15% on a year-to-date basis. Meanwhile, stocks in the Transportation group have lost about 1.91% on average. This means that Canadian Pacific Railway is performing better than its sector in terms of year-to-date returns.
Looking more specifically, CP belongs to the Transportation - Rail industry, which includes 10 individual stocks and currently sits at #19 in the Zacks Industry Rank. This group has gained an average of 14.46% so far this year, so CP is performing better in this area.
CP will likely be looking to continue its solid performance, so investors interested in Transportation stocks should continue to pay close attention to the company.