Has Capital Product Partners (CPLP) Outpaced Other Transportation Stocks This Year?
Investors interested in Transportation stocks should always be looking to find the best-performing companies in the group. Is Capital Product Partners L.P. (CPLP) one of those stocks right now? 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.
Capital Product Partners L.P. is a member of the Transportation sector. This group includes 141 individual stocks and currently holds a Zacks Sector Rank of #4. 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. Capital Product Partners L.P. is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CPLP's full-year earnings has moved 14.9% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, CPLP has moved about 2.7% on a year-to-date basis. Meanwhile, the Transportation sector has returned an average of -9.4% on a year-to-date basis. As we can see, Capital Product Partners L.P. is performing better than its sector in the calendar year.
Another Transportation stock, which has outperformed the sector so far this year, is Gatx (GATX). The stock has returned 5.9% year-to-date.
Over the past three months, Gatx's consensus EPS estimate for the current year has increased 2.2%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Capital Product Partners L.P. belongs to the Transportation - Shipping industry, a group that includes 43 individual stocks and currently sits at #33 in the Zacks Industry Rank. On average, stocks in this group have gained 45.6% this year, meaning that CPLP is slightly underperforming its industry in terms of year-to-date returns.
On the other hand, Gatx belongs to the Transportation - Equipment and Leasing industry. This 12-stock industry is currently ranked #63. The industry has moved -7.8% year to date.
Investors with an interest in Transportation stocks should continue to track Capital Product Partners L.P. and Gatx. These stocks will be looking to continue their solid performance.
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