For those looking to find strong Transportation stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Euroseas Ltd. (ESEA) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Euroseas Ltd. is one of 121 individual stocks in the Transportation sector. Collectively, these companies sit at #15 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 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. Euroseas Ltd. is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for ESEA's full-year earnings has moved 15.2% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that ESEA has returned about 75.2% since the start of the calendar year. In comparison, Transportation companies have returned an average of -4.1%. This shows that Euroseas Ltd. is outperforming its peers so far this year.
Another Transportation stock, which has outperformed the sector so far this year, is Westinghouse Air Brake Technologies (WAB). The stock has returned 3% year-to-date.
The consensus estimate for Westinghouse Air Brake Technologies' current year EPS has increased 1.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Euroseas Ltd. belongs to the Transportation - Shipping industry, a group that includes 37 individual stocks and currently sits at #197 in the Zacks Industry Rank. Stocks in this group have gained about 3.2% so far this year, so ESEA is performing better this group in terms of year-to-date returns.
In contrast, Westinghouse Air Brake Technologies falls under the Transportation - Equipment and Leasing industry. Currently, this industry has 11 stocks and is ranked #48. Since the beginning of the year, the industry has moved +7.6%.
Going forward, investors interested in Transportation stocks should continue to pay close attention to Euroseas Ltd. and Westinghouse Air Brake Technologies as they could maintain their solid performance.
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Euroseas Ltd. (ESEA): Free Stock Analysis Report Wabtec (WAB): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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