Yahoo Finance Are Transportation Stocks Lagging Westinghouse Air Brake Technologies (WAB) 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. Is Westinghouse Air Brake Technologies (WAB) one of those stocks right now? 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.
Westinghouse Air Brake Technologies is one of 132 companies in the Transportation group. The Transportation group currently sits at #11 within 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 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. Westinghouse Air Brake Technologies is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for WAB's full-year earnings has moved 8.1% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that WAB has returned about 26.9% since the start of the calendar year. Meanwhile, stocks in the Transportation group have lost about 4.2% on average. As we can see, Westinghouse Air Brake Technologies is performing better than its sector in the calendar year.
Another Transportation stock, which has outperformed the sector so far this year, is ZIM Integrated Shipping Services (ZIM). The stock has returned 99.1% year-to-date.
For ZIM Integrated Shipping Services, the consensus EPS estimate for the current year has increased 927.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Westinghouse Air Brake Technologies is a member of the Transportation - Equipment and Leasing industry, which includes 9 individual companies and currently sits at #54 in the Zacks Industry Rank. On average, this group has gained an average of 16.3% so far this year, meaning that WAB is performing better in terms of year-to-date returns.
On the other hand, ZIM Integrated Shipping Services belongs to the Transportation - Shipping industry. This 38-stock industry is currently ranked #77. The industry has moved +18.5% year to date.
Westinghouse Air Brake Technologies and ZIM Integrated Shipping Services could continue their solid performance, so investors interested in Transportation stocks should continue to pay close attention to these stocks.
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