Yahoo Finance Are Transportation Stocks Lagging Kirby (KEX) 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 Kirby (KEX) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Kirby is a member of the Transportation sector. This group includes 132 individual stocks and currently holds a Zacks Sector Rank of #16. 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Kirby is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for KEX's full-year earnings has moved 7.2% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, KEX has returned 50% so far this year. In comparison, Transportation companies have returned an average of -4.3%. This means that Kirby is outperforming the sector as a whole this year.
Matson (MATX) is another Transportation stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 10%.
In Matson's case, the consensus EPS estimate for the current year increased 6.7% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Kirby is a member of the Transportation - Shipping industry, which includes 38 individual companies and currently sits at #86 in the Zacks Industry Rank. On average, this group has gained an average of 17.1% so far this year, meaning that KEX is performing better in terms of year-to-date returns.
In contrast, Matson falls under the Transportation - Services industry. Currently, this industry has 26 stocks and is ranked #185. Since the beginning of the year, the industry has moved -8.9%.
Kirby and Matson could continue their solid performance, so investors interested in Transportation stocks should continue to pay close attention to these stocks.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Kirby Corporation (KEX) : Free Stock Analysis Report
Matson, Inc. (MATX) : Free Stock Analysis Report
