Is Ardmore Shipping (ASC) Stock Outpacing Its Transportation Peers This Year?
For those looking to find strong Transportation stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Ardmore Shipping (ASC) been one of those stocks this year? 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.
Ardmore Shipping is a member of our Transportation group, which includes 138 different companies and currently sits at #5 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. Ardmore Shipping is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for ASC's full-year earnings has moved 201.7% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that ASC has returned about 182.3% since the start of the calendar year. Meanwhile, the Transportation sector has returned an average of -24.2% on a year-to-date basis. 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 145.7%.
Over the past three months, International Seaways' consensus EPS estimate for the current year has increased 108.6%. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Ardmore Shipping belongs to the Transportation - Shipping industry, a group that includes 41 individual companies and currently sits at #54 in the Zacks Industry Rank. Stocks in this group have gained about 20.4% 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.
Ardmore Shipping and International Seaways could continue their solid performance, so investors interested in Transportation stocks should continue to pay close attention to these stocks.
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