Are Transportation Stocks Lagging Matson (MATX) This Year?
Investors interested in Transportation stocks should always be looking to find the best-performing companies in the group. Has Matson (MATX) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Transportation peers, we might be able to answer that question.
Matson is a member of the Transportation sector. This group includes 131 individual stocks and currently holds a Zacks Sector Rank of #14. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. Matson is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for MATX's full-year earnings has moved 49.2% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, MATX has returned 39% so far this year. Meanwhile, the Transportation sector has returned an average of 6.2% on a year-to-date basis. As we can see, Matson is performing better than its sector in the calendar year.
Ryder (R) is another Transportation stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 22.4%.
In Ryder's case, the consensus EPS estimate for the current year increased 7.8% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Matson belongs to the Transportation - Services industry, a group that includes 26 individual companies and currently sits at #184 in the Zacks Industry Rank. On average, stocks in this group have gained 4.2% this year, meaning that MATX is performing better in terms of year-to-date returns.
In contrast, Ryder falls under the Transportation - Equipment and Leasing industry. Currently, this industry has 11 stocks and is ranked #28. Since the beginning of the year, the industry has moved +8.8%.
Matson and Ryder could continue their solid performance, so investors interested in Transportation stocks should continue to pay close attention to these stocks.
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