Is SkyWest (SKYW) Outperforming Other Transportation Stocks This Year?
Investors focused on the Transportation space have likely heard of SkyWest (SKYW), but is the stock performing well in comparison to the rest of its sector peers? 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.
SkyWest is a member of the Transportation sector. This group includes 152 individual stocks and currently holds a Zacks Sector Rank of #14. 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 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. SKYW is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for SKYW's full-year earnings has moved 6.36% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that SKYW has returned about 32.13% since the start of the calendar year. Meanwhile, the Transportation sector has returned an average of 16.06% on a year-to-date basis. This means that SkyWest is performing better than its sector in terms of year-to-date returns.
Looking more specifically, SKYW belongs to the Transportation - Airline industry, which includes 28 individual stocks and currently sits at #102 in the Zacks Industry Rank. Stocks in this group have gained about 12.54% so far this year, so SKYW is performing better this group in terms of year-to-date returns.
SKYW 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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