Is Matson (MATX) Outperforming 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? Let's take a closer look at the stock's year-to-date performance to find out.
Matson 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 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 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. 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 49.2% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, MATX has returned 43.9% so far this year. Meanwhile, stocks in the Transportation group have gained about 1.5% on average. This shows that Matson is outperforming its peers so far this year.
Another Transportation stock, which has outperformed the sector so far this year, is Old Dominion Freight Line (ODFL). The stock has returned 42.1% year-to-date.
For Old Dominion Freight Line, the consensus EPS estimate for the current year has increased 0.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Matson belongs to the Transportation - Services industry, a group that includes 27 individual companies and currently sits at #227 in the Zacks Industry Rank. On average, this group has lost an average of 6.3% so far this year, meaning that MATX is performing better in terms of year-to-date returns.
On the other hand, Old Dominion Freight Line belongs to the Transportation - Truck industry. This 13-stock industry is currently ranked #210. The industry has moved +27.5% year to date.
Investors interested in the Transportation sector may want to keep a close eye on Matson and Old Dominion Freight Line as they attempt to continue their solid performance.
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Matson, Inc. (MATX) : Free Stock Analysis Report
Old Dominion Freight Line, Inc. (ODFL) : Free Stock Analysis Report
