Investors interested in Transportation stocks should always be looking to find the best-performing companies in the group. Is Ardmore Shipping (ASC) 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.
Ardmore Shipping is a member of our Transportation group, which includes 132 different companies and currently sits at #3 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 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. Ardmore Shipping is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ASC's full-year earnings has moved 6.7% 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 ASC has returned about 8.7% since the start of the calendar year. Meanwhile, the Transportation sector has returned an average of 7.4% on a year-to-date basis. This means that Ardmore Shipping is outperforming the sector as a whole this year.
Another Transportation stock, which has outperformed the sector so far this year, is Dorian LPG (LPG). The stock has returned 17.9% year-to-date.
For Dorian LPG, the consensus EPS estimate for the current year has increased 84.6% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Ardmore Shipping belongs to the Transportation - Shipping industry, a group that includes 38 individual stocks and currently sits at #74 in the Zacks Industry Rank. On average, this group has gained an average of 9.4% so far this year, meaning that ASC is slightly underperforming its industry in terms of year-to-date returns. Dorian LPG is also part of the same industry.
Ardmore Shipping and Dorian LPG could continue their solid performance, so investors interested in Transportation stocks should continue to pay close attention to these stocks.
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