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Is Teekay Tankers (TNK) Stock Outpacing Its Transportation Peers 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 Teekay Tankers (TNK - Free Report) 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.
Teekay Tankers is a member of the Transportation sector. This group includes 135 individual stocks and currently holds a Zacks Sector Rank of #12. 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. Teekay Tankers is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for TNK's full-year earnings has moved 2.9% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that TNK has returned about 25.6% since the start of the calendar year. In comparison, Transportation companies have returned an average of -1.4%. This means that Teekay Tankers is outperforming the sector as a whole this year.
Another stock in the Transportation sector, ZIM Integrated Shipping Services (ZIM - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 71.5%.
In ZIM Integrated Shipping Services' case, the consensus EPS estimate for the current year increased 927.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Teekay Tankers is a member of the Transportation - Shipping industry, which includes 43 individual companies and currently sits at #51 in the Zacks Industry Rank. Stocks in this group have gained about 27.3% so far this year, so TNK is slightly underperforming its industry this group in terms of year-to-date returns. ZIM Integrated Shipping Services is also part of the same industry.
Going forward, investors interested in Transportation stocks should continue to pay close attention to Teekay Tankers and ZIM Integrated Shipping Services as they could maintain their solid performance.
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Is Teekay Tankers (TNK) Stock Outpacing Its Transportation Peers 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 Teekay Tankers (TNK - Free Report) 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.
Teekay Tankers is a member of the Transportation sector. This group includes 135 individual stocks and currently holds a Zacks Sector Rank of #12. 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. Teekay Tankers is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for TNK's full-year earnings has moved 2.9% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that TNK has returned about 25.6% since the start of the calendar year. In comparison, Transportation companies have returned an average of -1.4%. This means that Teekay Tankers is outperforming the sector as a whole this year.
Another stock in the Transportation sector, ZIM Integrated Shipping Services (ZIM - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 71.5%.
In ZIM Integrated Shipping Services' case, the consensus EPS estimate for the current year increased 927.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Teekay Tankers is a member of the Transportation - Shipping industry, which includes 43 individual companies and currently sits at #51 in the Zacks Industry Rank. Stocks in this group have gained about 27.3% so far this year, so TNK is slightly underperforming its industry this group in terms of year-to-date returns. ZIM Integrated Shipping Services is also part of the same industry.
Going forward, investors interested in Transportation stocks should continue to pay close attention to Teekay Tankers and ZIM Integrated Shipping Services as they could maintain their solid performance.