Is Ardmore Shipping (ASC) Outperforming Other Transportation Stocks This Year?
Investors interested in Transportation stocks should always be looking to find the best-performing companies in the group. Ardmore Shipping (ASC) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? A quick glance at the company's year-to-date performance in comparison to the rest of the Transportation sector should help us answer this question.
Ardmore Shipping is one of 143 companies in the Transportation group. The Transportation group currently sits at #2 within 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. Ardmore Shipping is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for ASC's full-year earnings has moved 1615% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, ASC has moved about 143.5% on a year-to-date basis. Meanwhile, stocks in the Transportation group have lost about 13.9% on average. As we can see, Ardmore Shipping is performing better than its sector in the calendar year.
Another stock in the Transportation sector, International Seaways (INSW), has outperformed the sector so far this year. The stock's year-to-date return is 55.8%.
The consensus estimate for International Seaways' current year EPS has increased 761.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Ardmore Shipping is a member of the Transportation - Shipping industry, which includes 46 individual companies and currently sits at #38 in the Zacks Industry Rank. Stocks in this group have gained about 23.2% so far this year, so ASC is performing better this group in terms of year-to-date returns. International Seaways is also part of the same industry.
Investors interested in the Transportation sector may want to keep a close eye on Ardmore Shipping and International Seaways as they attempt to continue their solid performance.
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