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Is AAR (AIR) Outperforming Other Aerospace Stocks This Year?
For those looking to find strong Aerospace stocks, it is prudent to search for companies in the group that are outperforming their peers. Has AAR (AIR - Free Report) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Aerospace sector should help us answer this question.
AAR is one of 51 individual stocks in the Aerospace sector. Collectively, these companies sit 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 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. AAR is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for AIR's full-year earnings has moved 3.2% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that AIR has returned about 9.5% since the start of the calendar year. In comparison, Aerospace companies have returned an average of 1%. This shows that AAR is outperforming its peers so far this year.
Another Aerospace stock, which has outperformed the sector so far this year, is Woodward (WWD - Free Report) . The stock has returned 9.4% year-to-date.
For Woodward, the consensus EPS estimate for the current year has increased 1.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, AAR belongs to the Aerospace - Defense Equipment industry, which includes 26 individual stocks and currently sits at #36 in the Zacks Industry Rank. On average, this group has gained an average of 34.9% so far this year, meaning that AIR is slightly underperforming its industry in terms of year-to-date returns. Woodward is also part of the same industry.
Investors interested in the Aerospace sector may want to keep a close eye on AAR and Woodward as they attempt to continue their solid performance.