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Is Danaos (DAC) Outperforming Other Transportation Stocks This Year?
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For those looking to find strong Transportation stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Danaos (DAC - Free Report) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Transportation sector should help us answer this question.
Danaos is one of 141 individual stocks in the Transportation sector. Collectively, these companies sit at #1 in 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. Danaos is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for DAC's full-year earnings has moved 40.5% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that DAC has returned about 39.8% since the start of the calendar year. Meanwhile, the Transportation sector has returned an average of -2.7% on a year-to-date basis. This means that Danaos is performing better than its sector in terms of year-to-date returns.
Genco Shipping & Trading (GNK - Free Report) is another Transportation stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 48.3%.
Over the past three months, Genco Shipping & Trading's consensus EPS estimate for the current year has increased 4.5%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Danaos belongs to the Transportation - Shipping industry, which includes 43 individual stocks and currently sits at #70 in the Zacks Industry Rank. Stocks in this group have gained about 38.4% so far this year, so DAC is performing better this group in terms of year-to-date returns. Genco Shipping & Trading is also part of the same industry.
Investors interested in the Transportation sector may want to keep a close eye on Danaos and Genco Shipping & Trading as they attempt to continue their solid performance.
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Is Danaos (DAC) Outperforming Other Transportation Stocks This Year?
For those looking to find strong Transportation stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Danaos (DAC - Free Report) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Transportation sector should help us answer this question.
Danaos is one of 141 individual stocks in the Transportation sector. Collectively, these companies sit at #1 in 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. Danaos is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for DAC's full-year earnings has moved 40.5% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that DAC has returned about 39.8% since the start of the calendar year. Meanwhile, the Transportation sector has returned an average of -2.7% on a year-to-date basis. This means that Danaos is performing better than its sector in terms of year-to-date returns.
Genco Shipping & Trading (GNK - Free Report) is another Transportation stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 48.3%.
Over the past three months, Genco Shipping & Trading's consensus EPS estimate for the current year has increased 4.5%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Danaos belongs to the Transportation - Shipping industry, which includes 43 individual stocks and currently sits at #70 in the Zacks Industry Rank. Stocks in this group have gained about 38.4% so far this year, so DAC is performing better this group in terms of year-to-date returns. Genco Shipping & Trading is also part of the same industry.
Investors interested in the Transportation sector may want to keep a close eye on Danaos and Genco Shipping & Trading as they attempt to continue their solid performance.