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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? Let's take a closer look at the stock's year-to-date performance to find out.
Navios Maritime Partners is one of 142 companies in the Transportation group. The Transportation group currently sits at #6 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. NMM is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for NMM's full-year earnings has moved 50.65% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that NMM has returned about 137.86% since the start of the calendar year. In comparison, Transportation companies have returned an average of 7.97%. As we can see, Navios Maritime Partners is performing better than its sector in the calendar year.
Breaking things down more, NMM is a member of the Transportation - Shipping industry, which includes 44 individual companies and currently sits at #104 in the Zacks Industry Rank. Stocks in this group have gained about 30.57% so far this year, so NMM is performing better this group in terms of year-to-date returns.
NMM will likely be looking to continue its solid performance, so investors interested in Transportation stocks should continue to pay close attention to the company.
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