Is Danaos (DAC) Outperforming Other Transportation Stocks This Year?
Investors interested in Transportation stocks should always be looking to find the best-performing companies in the group. Has Danaos (DAC) been one of those stocks this year? 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 one of 141 companies in the Transportation group. The Transportation group currently sits at #11 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. DAC is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for DAC's full-year earnings has moved 31.35% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, DAC has returned 35.74% so far this year. Meanwhile, stocks in the Transportation group have gained about 2.97% on average. As we can see, Danaos is performing better than its sector in the calendar year.
Breaking things down more, DAC is a member of the Transportation - Shipping industry, which includes 42 individual companies and currently sits at #190 in the Zacks Industry Rank. On average, this group has gained an average of 17.29% so far this year, meaning that DAC is performing better in terms of year-to-date returns.
Investors with an interest in Transportation stocks should continue to track DAC. The stock will be looking to continue its solid performance.
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