Is Nordic American Tankers Limited (NAT) Outperforming Other Transportation Stocks 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 Nordic American Tankers (NAT) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

Nordic American Tankers is a member of our Transportation group, which includes 114 different companies and currently sits at #5 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. Nordic American Tankers is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for NAT's full-year earnings has moved 81% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the most recent data, NAT has returned 61.1% so far this year. In comparison, Transportation companies have returned an average of 4.7%. This shows that Nordic American Tankers is outperforming its peers so far this year.

One other Transportation stock that has outperformed the sector so far this year is Pacific Basin Shipping Ltd. (PCFBY). The stock is up 20.7% year-to-date.

The consensus estimate for Pacific Basin Shipping Ltd.'s current year EPS has increased 50% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Nordic American Tankers belongs to the Transportation - Shipping industry, a group that includes 36 individual stocks and currently sits at #48 in the Zacks Industry Rank. Stocks in this group have gained about 31.2% so far this year, so NAT is performing better this group in terms of year-to-date returns. Pacific Basin Shipping Ltd. is also part of the same industry.

Investors interested in the Transportation sector may want to keep a close eye on Nordic American Tankers and Pacific Basin Shipping Ltd. as they attempt to continue their solid performance.

Zacks Names #1 Semiconductor Stock

This under-the-radar company specializes in semiconductor products that titans like NVIDIA don't build. It's uniquely positioned to take advantage of the next growth stage of this market. And it's just beginning to enter the spotlight, which is exactly where you want to be.

With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $971 billion by 2028.

See This Stock Now for Free >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Nordic American Tankers Limited (NAT): Free Stock Analysis Report

Pacific Basin Shipping Ltd. (PCFBY): Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research