One company that should be on your radar is AeroVironment, Inc. (AVAV). The aerospace and defense equipment stock has seen its Zacks Rank surge over the past four weeks, moving from Hold territory to its current position as a Buy.
A key reason for this move has been the positive trend in the earnings estimate revisions picture. For AVAV’s full year estimate, we have seen 8 estimates go higher in the past 30 days, compared to no estimate going lower in the same time period. This trend has helped the consensus estimate to trend higher, going from 26 cents a share a month ago to its current level at 48 cents.
This positive shift in estimates has made some investors take notice and buy the stock. In fact, AVAV has seen some pretty solid trading lately, as the company has moved higher by 24.55% in the past month.
If AeroVironment can keep up this great momentum on the earnings estimate front and continue to impress analysts, we could see more gains ahead for this company, suggesting that you might want to put AVAV on your watch list for the future.
Other top-ranked stocks worth considering in this space include Alliant Techsystems Inc. (ATK), B/E Aerospace Inc. (BEAV), and HEICO Corporation (HEI). All these carry a Zacks Rank #2 (Buy).
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