Is FedEx (FDX) Stock Outpacing Its Transportation Peers This Year?
The Transportation group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is FedEx (FDX) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Transportation peers, we might be able to answer that question.
FedEx is a member of the Transportation sector. This group includes 141 individual stocks and currently holds a Zacks Sector Rank of #11. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. FDX is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for FDX's full-year earnings has moved 11.73% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, FDX has moved about 65.53% on a year-to-date basis. In comparison, Transportation companies have returned an average of 4.86%. This means that FedEx is performing better than its sector in terms of year-to-date returns.
Looking more specifically, FDX belongs to the Transportation - Air Freight and Cargo industry, which includes 5 individual stocks and currently sits at #6 in the Zacks Industry Rank. Stocks in this group have gained about 56.38% so far this year, so FDX is performing better this group in terms of year-to-date returns.
Investors with an interest in Transportation stocks should continue to track FDX. The stock will be looking to continue its solid performance.
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