Is SkyWest (SKYW) Stock Outpacing Its Transportation Peers This Year?
The Transportation group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is SkyWest (SKYW) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Transportation peers, we might be able to answer that question.
SkyWest is one of 153 individual stocks in the Transportation sector. Collectively, these companies sit at #12 in the Zacks Sector Rank. 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 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. SKYW is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for SKYW's full-year earnings has moved 5.52% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, SKYW has moved about 33.75% on a year-to-date basis. At the same time, Transportation stocks have gained an average of 11.84%. This shows that SkyWest is outperforming its peers so far this year.
Breaking things down more, SKYW is a member of the Transportation - Airline industry, which includes 28 individual companies and currently sits at #153 in the Zacks Industry Rank. This group has gained an average of 6.29% so far this year, so SKYW is performing better in this area.
Going forward, investors interested in Transportation stocks should continue to pay close attention to SKYW as it looks to continue its solid performance.
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