Investors interested in Transportation stocks should always be looking to find the best-performing companies in the group. Is Echo Global Logistics (ECHO) 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.
Echo Global Logistics is one of 136 individual stocks in the Transportation sector. Collectively, these companies sit at #3 in the Zacks Sector Rank. 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 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. ECHO is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for ECHO's full-year earnings has moved 30.57% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that ECHO has returned about 78.19% since the start of the calendar year. At the same time, Transportation stocks have gained an average of 4.69%. This means that Echo Global Logistics is performing better than its sector in terms of year-to-date returns.
Breaking things down more, ECHO is a member of the Transportation - Services industry, which includes 28 individual companies and currently sits at #73 in the Zacks Industry Rank. This group has gained an average of 17.35% so far this year, so ECHO is performing better in this area.
Investors in the Transportation sector will want to keep a close eye on ECHO as it attempts to continue its solid performance.
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