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Is Golden Ocean Group (GOGL) Outperforming 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. Golden Ocean Group (GOGL) 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? 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.

Golden Ocean Group is one of 141 individual stocks in the Transportation sector. Collectively, these companies sit at #4 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 proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Golden Ocean Group is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for GOGL's full-year earnings has moved 56.4% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

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Based on the latest available data, GOGL has gained about 55.7% so far this year. At the same time, Transportation stocks have lost an average of 11.9%. This means that Golden Ocean Group is outperforming the sector as a whole this year.

One other Transportation stock that has outperformed the sector so far this year is Marten Transport, Ltd. (MRTN). The stock is up 2.7% year-to-date.

For Marten Transport, Ltd. the consensus EPS estimate for the current year has increased 9.9% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

Breaking things down more, Golden Ocean Group is a member of the Transportation - Shipping industry, which includes 43 individual companies and currently sits at #30 in the Zacks Industry Rank. Stocks in this group have gained about 38.1% so far this year, so GOGL is performing better this group in terms of year-to-date returns.

On the other hand, Marten Transport, Ltd. belongs to the Transportation - Truck industry. This 13-stock industry is currently ranked #56. The industry has moved -24.3% year to date.

Investors with an interest in Transportation stocks should continue to track Golden Ocean Group and Marten Transport, Ltd. These stocks will be looking to continue their solid performance.


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