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Is KNOT Offshore Partners (KNOP) Outperforming Other Transportation Stocks This Year?

For those looking to find strong Transportation stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Knot Offshore (KNOP) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

Knot Offshore is one of 141 individual stocks in the Transportation sector. Collectively, these companies sit at #3 in 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. Knot Offshore is currently sporting a Zacks Rank of #1 (Strong Buy).

The Zacks Consensus Estimate for KNOP's full-year earnings has moved 22.6% 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, KNOP has returned 24% so far this year. At the same time, Transportation stocks have lost an average of 16.6%. This shows that Knot Offshore is outperforming its peers so far this year.

Teekay Tankers (TNK) is another Transportation stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 65.3%.

For Teekay Tankers, the consensus EPS estimate for the current year has increased 104.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Knot Offshore belongs to the Transportation - Shipping industry, which includes 43 individual stocks and currently sits at #42 in the Zacks Industry Rank. Stocks in this group have gained about 21.1% so far this year, so KNOP is performing better this group in terms of year-to-date returns. Teekay Tankers is also part of the same industry.

Going forward, investors interested in Transportation stocks should continue to pay close attention to Knot Offshore and Teekay Tankers as they could maintain their solid performance.


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