Is Air Lease (AL) Stock Outpacing Its Transportation Peers This Year?
Investors interested in Transportation stocks should always be looking to find the best-performing companies in the group. Air Lease (AL) 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? A quick glance at the company's year-to-date performance in comparison to the rest of the Transportation sector should help us answer this question.
Air Lease is a member of our Transportation group, which includes 132 different companies and currently sits at #13 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Air Lease is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for AL's full-year earnings has moved 10.3% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, AL has moved about 12.4% on a year-to-date basis. In comparison, Transportation companies have returned an average of 2.5%. This means that Air Lease is outperforming the sector as a whole this year.
One other Transportation stock that has outperformed the sector so far this year is EuroDry (EDRY). The stock is up 18.8% year-to-date.
In EuroDry's case, the consensus EPS estimate for the current year increased 2.9% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Air Lease belongs to the Transportation - Equipment and Leasing industry, which includes 9 individual stocks and currently sits at #16 in the Zacks Industry Rank. On average, stocks in this group have gained 11.5% this year, meaning that AL is performing better in terms of year-to-date returns.
On the other hand, EuroDry belongs to the Transportation - Shipping industry. This 37-stock industry is currently ranked #54. The industry has moved +9.6% year to date.
Going forward, investors interested in Transportation stocks should continue to pay close attention to Air Lease and EuroDry as they could maintain their solid performance.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Air Lease Corporation (AL) : Free Stock Analysis Report
EuroDry (EDRY) : Free Stock Analysis Report
