Is Matson (MATX) Outperforming Other Transportation Stocks This Year?
Here is how Matson (MATX) and Navios Maritime Partners LP (NMM) have performed compared to their sector so far 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. Has Matson (MATX) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Matson is one of 140 individual stocks in the Transportation sector. Collectively, these companies sit at #5 in the Zacks Sector Rank. 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Matson is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for MATX's full-year earnings has moved 30.7% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that MATX has returned about 58% since the start of the calendar year. Meanwhile, stocks in the Transportation group have about 0% on average. As we can see, Matson is performing better than its sector in the calendar year.
Another Transportation stock, which has outperformed the sector so far this year, is Navios Maritime Partners LP (NMM). The stock has returned 124% year-to-date.
In Navios Maritime Partners LP's case, the consensus EPS estimate for the current year increased 39.5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Matson belongs to the Transportation - Services industry, which includes 29 individual stocks and currently sits at #79 in the Zacks Industry Rank.
In contrast, Navios Maritime Partners LP falls under the Transportation - Shipping industry. Currently, this industry has 44 stocks and is ranked #101. Since the beginning of the year, the industry has moved 0%.
Investors with an interest in Transportation stocks should continue to track Matson and Navios Maritime Partners LP. These stocks will be looking to continue their solid performance.
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Matson, Inc. (MATX): Free Stock Analysis Report
Navios Maritime Partners LP (NMM): Free Stock Analysis Report
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