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For those looking to find strong Transportation stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Nordic American Tankers Limited (NAT) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Nordic American Tankers Limited is a member of the Transportation sector. This group includes 143 individual stocks and currently holds a Zacks Sector Rank of #9. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. NAT is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for NAT's full-year earnings has moved 30.25% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, NAT has returned 6.71% so far this year. Meanwhile, the Transportation sector has returned an average of -25.65% on a year-to-date basis. This means that Nordic American Tankers Limited is performing better than its sector in terms of year-to-date returns.
Looking more specifically, NAT belongs to the Transportation - Shipping industry, which includes 41 individual stocks and currently sits at #59 in the Zacks Industry Rank. On average, this group has lost an average of 40.56% so far this year, meaning that NAT is performing better in terms of year-to-date returns.
NAT 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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