Yahoo Finance Are Transportation Stocks Lagging Ardmore Shipping (ASC) This Year?
Investors interested in Transportation stocks should always be looking to find the best-performing companies in the group. Has Ardmore Shipping (ASC) 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.
Ardmore Shipping is a member of the Transportation sector. This group includes 132 individual stocks and currently holds a Zacks Sector Rank of #13. 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 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. Ardmore Shipping is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ASC's full-year earnings has moved 23% 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 ASC has returned about 12.1% since the start of the calendar year. In comparison, Transportation companies have returned an average of 1.4%. This means that Ardmore Shipping is outperforming the sector as a whole this year.
Another Transportation stock, which has outperformed the sector so far this year, is Seanergy Maritime Holdings Corp (SHIP). The stock has returned 8.3% year-to-date.
Over the past three months, Seanergy Maritime Holdings Corp's consensus EPS estimate for the current year has increased 62.1%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Ardmore Shipping belongs to the Transportation - Shipping industry, which includes 38 individual stocks and currently sits at #49 in the Zacks Industry Rank. On average, this group has gained an average of 11.4% so far this year, meaning that ASC is performing better in terms of year-to-date returns. Seanergy Maritime Holdings Corp is also part of the same industry.
Ardmore Shipping and Seanergy Maritime Holdings Corp could continue their solid performance, so investors interested in Transportation stocks should continue to pay close attention to these stocks.
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Ardmore Shipping Corporation (ASC) : Free Stock Analysis Report
Seanergy Maritime Holdings Corp (SHIP) : Free Stock Analysis Report
