Has Orient Overseas International (OROVY) Outpaced Other Transportation Stocks This Year?
The Transportation group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Orient Overseas International Ltd. (OROVY) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Orient Overseas International Ltd. is one of 143 individual stocks in the Transportation sector. Collectively, these companies sit at #1 in 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 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. Orient Overseas International Ltd. is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for OROVY's full-year earnings has moved 14% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, OROVY has gained about 13.2% so far this year. Meanwhile, the Transportation sector has returned an average of -11.5% on a year-to-date basis. This means that Orient Overseas International Ltd. is outperforming the sector as a whole this year.
Pyxis Tankers Inc. (PXS) is another Transportation stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 75%.
The consensus estimate for Pyxis Tankers Inc.'s current year EPS has increased 20.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Orient Overseas International Ltd. belongs to the Transportation - Shipping industry, a group that includes 46 individual companies and currently sits at #49 in the Zacks Industry Rank. On average, stocks in this group have gained 33% this year, meaning that OROVY is slightly underperforming its industry in terms of year-to-date returns. Pyxis Tankers Inc. is also part of the same industry.
Investors interested in the Transportation sector may want to keep a close eye on Orient Overseas International Ltd. and Pyxis Tankers Inc. as they attempt to continue their solid performance.
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