Are Aerospace Stocks Lagging Aerojet Rocketdyne Holdings (AJRD) This Year?
The Aerospace group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Aerojet Rocketdyne Holdings (AJRD) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Aerospace peers, we might be able to answer that question.
Aerojet Rocketdyne Holdings is a member of the Aerospace sector. This group includes 48 individual stocks and currently holds a Zacks Sector Rank of #12. 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. Aerojet Rocketdyne Holdings is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for AJRD's full-year earnings has moved 1.6% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that AJRD has returned about 4.8% since the start of the calendar year. Meanwhile, stocks in the Aerospace group have gained about 1.2% on average. This means that Aerojet Rocketdyne Holdings is outperforming the sector as a whole this year.
One other Aerospace stock that has outperformed the sector so far this year is AerSale Corporation (ASLE). The stock is up 6.3% year-to-date.
Over the past three months, AerSale Corporation's consensus EPS estimate for the current year has increased 47.7%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Aerojet Rocketdyne Holdings belongs to the Aerospace - Defense Equipment industry, a group that includes 23 individual stocks and currently sits at #179 in the Zacks Industry Rank. On average, stocks in this group have gained 1.3% this year, meaning that AJRD is performing better in terms of year-to-date returns. AerSale Corporation is also part of the same industry.
Aerojet Rocketdyne Holdings and AerSale Corporation could continue their solid performance, so investors interested in Aerospace stocks should continue to pay close attention to these stocks.
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Aerojet Rocketdyne Holdings, Inc. (AJRD) : Free Stock Analysis Report
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