Is Matson (MATX) Stock Outpacing Its Transportation Peers This Year?
The Transportation group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. 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 a member of the Transportation sector. This group includes 132 individual stocks and currently holds a Zacks Sector Rank of #16. 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).
The Zacks Consensus Estimate for MATX's full-year earnings has moved 23.1% higher within the past quarter. 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 39.3% on a year-to-date basis. In comparison, Transportation companies have returned an average of 0.3%. As we can see, Matson is performing better than its sector in the calendar year.
Another stock in the Transportation sector, Old Dominion Freight Line (ODFL), has outperformed the sector so far this year. The stock's year-to-date return is 38.5%.
The consensus estimate for Old Dominion Freight Line's current year EPS has increased 1.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Matson belongs to the Transportation - Services industry, which includes 27 individual stocks and currently sits at #218 in the Zacks Industry Rank. On average, stocks in this group have lost 6.8% 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 #188. The industry has moved +24.8% year to date.
Going forward, investors interested in Transportation stocks should continue to pay close attention to Matson and Old Dominion Freight Line as they could maintain their solid performance.
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Matson, Inc. (MATX) : Free Stock Analysis Report
Old Dominion Freight Line, Inc. (ODFL) : Free Stock Analysis Report
