Has Navios Maritime Partners (NMM) Outpaced Other Transportation Stocks This Year?
Investors focused on the Transportation space have likely heard of Navios Maritime Partners (NMM), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of NMM and the rest of the Transportation group's stocks.
Navios Maritime Partners is one of 136 companies in the Transportation group. The Transportation group currently sits at #3 within 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. NMM is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for NMM's full-year earnings has moved 19.33% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, NMM has gained about 138.30% so far this year. Meanwhile, the Transportation sector has returned an average of 8.19% on a year-to-date basis. This shows that Navios Maritime Partners is outperforming its peers so far this year.
To break things down more, NMM belongs to the Transportation - Shipping industry, a group that includes 42 individual companies and currently sits at #83 in the Zacks Industry Rank. Stocks in this group have gained about 55.87% so far this year, so NMM is performing better this group in terms of year-to-date returns.
Investors in the Transportation sector will want to keep a close eye on NMM as it attempts to continue its solid performance.
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