Are Aerospace Stocks Lagging AeroVironment (AVAV) This Year?
The Aerospace group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. AeroVironment (AVAV) 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? Let's take a closer look at the stock's year-to-date performance to find out.
AeroVironment is one of 47 individual stocks in the Aerospace sector. Collectively, these companies sit at #9 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. AeroVironment is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for AVAV's full-year earnings has moved 1.5% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that AVAV has returned about 44.6% since the start of the calendar year. Meanwhile, the Aerospace sector has returned an average of -0.8% on a year-to-date basis. This shows that AeroVironment is outperforming its peers so far this year.
Textron (TXT) is another Aerospace stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 12.6%.
Over the past three months, Textron's consensus EPS estimate for the current year has increased 8.7%. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, AeroVironment is a member of the Aerospace - Defense Equipment industry, which includes 21 individual companies and currently sits at #86 in the Zacks Industry Rank. This group has gained an average of 7.9% so far this year, so AVAV is performing better in this area.
On the other hand, Textron belongs to the Aerospace - Defense industry. This 25-stock industry is currently ranked #89. The industry has moved -3.4% year to date.
Investors with an interest in Aerospace stocks should continue to track AeroVironment and Textron. These stocks will be looking to continue their solid performance.
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AeroVironment, Inc. (AVAV) : Free Stock Analysis Report
Textron Inc. (TXT) : Free Stock Analysis Report
