Investors focused on the Transportation space have likely heard of Danaos (DAC - 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 DAC and the rest of the Transportation group's stocks.
Danaos is a member of the Transportation sector. This group includes 149 individual stocks and currently holds a Zacks Sector Rank of #10. 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 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. DAC is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for DAC's full-year earnings has moved 29.55% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, DAC has returned 17.93% so far this year. Meanwhile, the Transportation sector has returned an average of 14.54% on a year-to-date basis. As we can see, Danaos is performing better than its sector in the calendar year.
To break things down more, DAC belongs to the Transportation - Shipping industry, a group that includes 47 individual companies and currently sits at #167 in the Zacks Industry Rank. This group has gained an average of 14.94% so far this year, so DAC is performing better in this area.
DAC will likely be looking to continue its solid performance, so investors interested in Transportation stocks should continue to pay close attention to the company.