The Transportation group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Navios Maritime Partners (NMM - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Navios Maritime Partners is a member of our Transportation group, which includes 150 different companies and currently sits at #8 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 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. NMM is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for NMM's full-year earnings has moved 34.98% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, NMM has gained about 38.92% so far this year. In comparison, Transportation companies have returned an average of 1.98%. This means that Navios Maritime Partners is performing better than its sector in terms of year-to-date returns.
Breaking things down more, NMM is a member of the Transportation - Shipping industry, which includes 47 individual companies and currently sits at #106 in the Zacks Industry Rank. This group has gained an average of 9.64% so far this year, so NMM is performing better in this area.
Investors in the Transportation sector will want to keep a close eye on NMM as it attempts to continue its solid performance.