Is Pangaea Logistics Solutions (PANL) Outperforming Other Transportation Stocks This Year?
Investors interested in Transportation stocks should always be looking to find the best-performing companies in the group. Is Pangaea Logistics (PANL) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Pangaea Logistics is one of 144 companies in the Transportation group. The Transportation group currently sits at #3 within the Zacks Sector Rank. 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 proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Pangaea Logistics is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for PANL's full-year earnings has moved 32.1% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, PANL has returned 27% so far this year. At the same time, Transportation stocks have lost an average of 17.2%. This means that Pangaea Logistics is outperforming the sector as a whole this year.
One other Transportation stock that has outperformed the sector so far this year is Tsakos Energy (TNP). The stock is up 25.4% year-to-date.
Over the past three months, Tsakos Energy's consensus EPS estimate for the current year has increased 133.8%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Pangaea Logistics belongs to the Transportation - Shipping industry, a group that includes 46 individual stocks and currently sits at #23 in the Zacks Industry Rank. On average, stocks in this group have gained 7.2% this year, meaning that PANL is performing better in terms of year-to-date returns. Tsakos Energy is also part of the same industry.
Going forward, investors interested in Transportation stocks should continue to pay close attention to Pangaea Logistics and Tsakos Energy as they could maintain their solid performance.
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