The Transportation group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. ArcBest (ARCB) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
ArcBest is a member of our Transportation group, which includes 99 different companies and currently sits at #7 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 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. ArcBest is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ARCB's full-year earnings has moved 12.1% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, ARCB has returned 65.4% so far this year. Meanwhile, stocks in the Transportation group have gained about 8.4% on average. This means that ArcBest is performing better than its sector in terms of year-to-date returns.
One other Transportation stock that has outperformed the sector so far this year is Okeanis Eco Tankers Corp. (ECO). The stock is up 62.9% year-to-date.
Over the past three months, Okeanis Eco Tankers Corp.'s consensus EPS estimate for the current year has increased 281.2%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, ArcBest belongs to the Transportation - Truck industry, which includes 12 individual stocks and currently sits at #95 in the Zacks Industry Rank. On average, stocks in this group have gained 34.6% this year, meaning that ARCB is performing better in terms of year-to-date returns.
On the other hand, Okeanis Eco Tankers Corp. belongs to the Transportation - Shipping industry. This 22-stock industry is currently ranked #48. The industry has moved +46.3% year to date.
ArcBest and Okeanis Eco Tankers Corp. could continue their solid performance, so investors interested in Transportation stocks should continue to pay close attention to these stocks.
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.9% per year. So be sure to give these hand picked 7 your immediate attention.
See them now >>ArcBest Corporation (ARCB) : Free Stock Analysis Report
Okeanis Eco Tankers Corp. (ECO) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
