Is Covenant Logistics Group (CVLG) Stock Outpacing Its Transportation Peers This Year?
Investors interested in Transportation stocks should always be looking to find the best-performing companies in the group. Is Covenant Logistics (CVLG) 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.
Covenant Logistics is one of 130 companies in the Transportation group. The Transportation group currently sits at #16 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. Covenant Logistics is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CVLG's full-year earnings has moved 4.9% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, CVLG has returned 26.7% so far this year. Meanwhile, the Transportation sector has returned an average of 4.2% on a year-to-date basis. This means that Covenant Logistics is performing better than its sector in terms of year-to-date returns.
Another stock in the Transportation sector, Teekay Tankers (TNK), has outperformed the sector so far this year. The stock's year-to-date return is 37.6%.
For Teekay Tankers, the consensus EPS estimate for the current year has increased 2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Covenant Logistics belongs to the Transportation - Truck industry, a group that includes 13 individual stocks and currently sits at #241 in the Zacks Industry Rank. On average, this group has gained an average of 28.6% so far this year, meaning that CVLG is slightly underperforming its industry in terms of year-to-date returns.
Teekay Tankers, however, belongs to the Transportation - Shipping industry. Currently, this 38-stock industry is ranked #168. The industry has moved +15.9% so far this year.
Investors interested in the Transportation sector may want to keep a close eye on Covenant Logistics and Teekay Tankers as they attempt to continue their solid performance.
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Covenant Logistics Group, Inc. (CVLG) : Free Stock Analysis Report
Teekay Tankers Ltd. (TNK) : Free Stock Analysis Report
