Has Matson (MATX) Outpaced Other Transportation Stocks This Year?
Investors interested in Transportation stocks should always be looking to find the best-performing companies in the group. Matson (MATX) 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? 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.
Matson is one of 133 individual stocks in the Transportation sector. Collectively, these companies sit at #9 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. Matson is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for MATX's full-year earnings has moved 4.6% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, MATX has moved about 5.5% on a year-to-date basis. In comparison, Transportation companies have returned an average of 0.9%. As we can see, Matson is performing better than its sector in the calendar 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 14.2%.
The consensus estimate for Teekay Tankers' current year EPS has increased 70.6% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Matson belongs to the Transportation - Services industry, which includes 27 individual stocks and currently sits at #177 in the Zacks Industry Rank. On average, stocks in this group have lost 9.1% this year, meaning that MATX is performing better in terms of year-to-date returns.
On the other hand, Teekay Tankers belongs to the Transportation - Shipping industry. This 37-stock industry is currently ranked #94. The industry has moved +6.2% year to date.
Investors with an interest in Transportation stocks should continue to track Matson and Teekay Tankers. These stocks will be looking to continue their solid performance.
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Matson, Inc. (MATX) : Free Stock Analysis Report
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