Has Teekay Tankers (TNK) Outpaced Other Transportation Stocks This Year?
Investors interested in Transportation stocks should always be looking to find the best-performing companies in the group. Has Teekay Tankers (TNK) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Teekay Tankers is one of 147 companies in the Transportation group. The Transportation group currently sits at #9 within the Zacks Sector Rank. 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the 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 124.38% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, TNK has returned 4.34% so far this year. Meanwhile, the Transportation sector has returned an average of -0.30% on a year-to-date basis. This shows that Teekay Tankers is outperforming its peers so far this year.
To break things down more, TNK belongs to the Transportation - Shipping industry, a group that includes 44 individual companies and currently sits at #72 in the Zacks Industry Rank. Stocks in this group have gained about 0.58% so far this year, so TNK is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Transportation stocks should continue to pay close attention to TNK as it looks to continue its solid performance.
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