Investors interested in Transportation stocks should always be looking to find the best-performing companies in the group. Is FedEx (FDX Quick QuoteFDX – Free Report) one of those stocks right now? Let’s take a closer look at the stock’s year-to-date performance to find out.
FedEx is one of 132 companies in the Transportation group. The Transportation group currently sits at #15 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. FedEx is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for FDX’s full-year earnings has moved 4.8% higher. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.
Based on the latest available data, FDX has gained about 39.3% so far this year. At the same time, Transportation stocks have lost an average of 0.2%. As we can see, FedEx is performing better than its sector in the calendar year.
Eneti (NETI Quick QuoteNETI – Free Report) is another Transportation stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 0.5%.
For Eneti, the consensus EPS estimate for the current year has increased 50% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, FedEx belongs to the Transportation – Air Freight and Cargo industry, a group that includes 4 individual companies and currently sits at #50 in the Zacks Industry Rank. Stocks in this group have lost about 3.2% so far this year, so FDX is performing better this group in terms of year-to-date returns.
On the other hand, Eneti belongs to the Transportation – Shipping industry. This 38-stock industry is currently ranked #159. The industry has moved +16.9% year to date.
Going forward, investors interested in Transportation stocks should continue to pay close attention to FedEx and Eneti as they could maintain their solid performance.