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Is Spirit Airlines (SAVE) Stock Outpacing Its Transportation Peers This Year?
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Investors focused on the Transportation space have likely heard of Spirit Airlines (SAVE - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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.
Spirit Airlines is a member of the Transportation sector. This group includes 149 individual stocks and currently holds a Zacks Sector Rank of #1. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. SAVE is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for SAVE's full-year earnings has moved 46.43% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, SAVE has gained about 8.68% so far this year. Meanwhile, the Transportation sector has returned an average of 12.22% on a year-to-date basis. This means that Spirit Airlines is outperforming the sector as a whole this year.
Looking more specifically, SAVE belongs to the Transportation - Airline industry, a group that includes 28 individual stocks and currently sits at #9 in the Zacks Industry Rank. On average, this group has gained an average of 11.49% so far this year, meaning that SAVE is slightly underperforming its industry in terms of year-to-date returns.
SAVE will likely be looking to continue its solid performance, so investors interested in Transportation stocks should continue to pay close attention to the company.
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Is Spirit Airlines (SAVE) Stock Outpacing Its Transportation Peers This Year?
Investors focused on the Transportation space have likely heard of Spirit Airlines (SAVE - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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.
Spirit Airlines is a member of the Transportation sector. This group includes 149 individual stocks and currently holds a Zacks Sector Rank of #1. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. SAVE is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for SAVE's full-year earnings has moved 46.43% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, SAVE has gained about 8.68% so far this year. Meanwhile, the Transportation sector has returned an average of 12.22% on a year-to-date basis. This means that Spirit Airlines is outperforming the sector as a whole this year.
Looking more specifically, SAVE belongs to the Transportation - Airline industry, a group that includes 28 individual stocks and currently sits at #9 in the Zacks Industry Rank. On average, this group has gained an average of 11.49% so far this year, meaning that SAVE is slightly underperforming its industry in terms of year-to-date returns.
SAVE will likely be looking to continue its solid performance, so investors interested in Transportation stocks should continue to pay close attention to the company.