Investors interested in Transportation stocks should always be looking to find the best-performing companies in the group. FedEx (FDX) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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.
FedEx is one of 132 individual stocks in the Transportation sector. Collectively, these companies sit at #15 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. FedEx is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for FDX's full-year earnings has moved 4.8% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, FDX has returned 46.6% so far this year. Meanwhile, stocks in the Transportation group have gained about 5.3% on average. As we can see, FedEx is performing better than its sector in the calendar year.
Golden Ocean Group (GOGL) is another Transportation stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 6.7%.
For Golden Ocean Group, the consensus EPS estimate for the current year has increased 36.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, FedEx belongs to the Transportation - Air Freight and Cargo industry, a group that includes 4 individual stocks and currently sits at #37 in the Zacks Industry Rank. Stocks in this group have gained about 4.7% so far this year, so FDX is performing better this group in terms of year-to-date returns.
On the other hand, Golden Ocean Group belongs to the Transportation - Shipping industry. This 38-stock industry is currently ranked #59. The industry has moved +18.7% year to date.
Going forward, investors interested in Transportation stocks should continue to pay close attention to FedEx and Golden Ocean Group as they could maintain their solid performance.
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