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The Transportation group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Danaos (DAC) one of those stocks right now? 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.
Danaos 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 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 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. DAC is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for DAC's full-year earnings has moved 3.74% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, DAC has moved about 238.96% on a year-to-date basis. At the same time, Transportation stocks have gained an average of 14.70%. 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 44 individual companies and currently sits at #63 in the Zacks Industry Rank. On average, this group has gained an average of 61.83% so far this year, meaning that DAC is performing better in terms of year-to-date returns.
Going forward, investors interested in Transportation stocks should continue to pay close attention to DAC as it looks to continue its solid performance.
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