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Has Teekay Tankers (TNK) Outpaced Other Transportation Stocks This Year?

Zacks Equity Research
·2 min read

For those looking to find strong Transportation stocks, it is prudent to search for companies in the group that are outperforming their peers. Teekay Tankers (TNK) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of TNK and the rest of the Transportation group's stocks.

Teekay Tankers is one of 143 individual stocks in the Transportation sector. Collectively, these companies sit at #8 in 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. TNK is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past three months, the Zacks Consensus Estimate for TNK's full-year earnings has moved 10.21% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the most recent data, TNK has returned 5.05% so far this year. At the same time, Transportation stocks have lost an average of 23.11%. This means that Teekay Tankers is outperforming the sector as a whole this year.

Breaking things down more, TNK is a member of the Transportation - Shipping industry, which includes 41 individual companies and currently sits at #56 in the Zacks Industry Rank. On average, this group has lost an average of 31.69% so far this year, meaning that TNK is performing better in terms of year-to-date returns.

Investors in the Transportation sector will want to keep a close eye on TNK as it attempts to continue its solid performance.


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Zacks Investment Research