Are Transportation Stocks Lagging Seanergy Maritime Holdings (SHIP) 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. Seanergy Maritime Holdings Corp (SHIP) 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? 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.

Seanergy Maritime Holdings Corp is a member of our Transportation group, which includes 101 different companies and currently sits at #10 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 proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Seanergy Maritime Holdings Corp is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for SHIP's full-year earnings has moved 49.8% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Our latest available data shows that SHIP has returned about 39.9% since the start of the calendar year. Meanwhile, the Transportation sector has returned an average of 4.9% on a year-to-date basis. This shows that Seanergy Maritime Holdings Corp is outperforming its peers so far this year.

Teekay Tankers (TNK) is another Transportation stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 37.3%.

Over the past three months, Teekay Tankers' consensus EPS estimate for the current year has increased 44.6%. The stock currently has a Zacks Rank #1 (Strong Buy).

To break things down more, Seanergy Maritime Holdings Corp belongs to the Transportation - Shipping industry, a group that includes 22 individual companies and currently sits at #71 in the Zacks Industry Rank. On average, stocks in this group have gained 32.7% this year, meaning that SHIP is performing better in terms of year-to-date returns. Teekay Tankers is also part of the same industry.

Investors interested in the Transportation sector may want to keep a close eye on Seanergy Maritime Holdings Corp and Teekay Tankers as they attempt to continue their solid performance.

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

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