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Is Spirit Airlines (SAVE) Stock Outpacing Its Transportation Peers This Year?

Zacks Equity Research
Blackstone Group (BX) closed at $40.65 in the latest trading session, marking a -1.22% move from the prior day.

Investors focused on the Transportation space have likely heard of Spirit Airlines (SAVE), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of SAVE and the rest of the Transportation group's stocks.

Spirit Airlines is one of 149 individual stocks in the Transportation sector. Collectively, these companies sit at #2 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. SAVE is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for SAVE's full-year earnings has moved 44.29% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the most recent data, SAVE has returned 2.87% so far this year. In comparison, Transportation companies have returned an average of 17.55%. This shows that Spirit Airlines is outperforming its peers so far this year.

Breaking things down more, SAVE is a member of the Transportation - Airline industry, which includes 28 individual companies and currently sits at #8 in the Zacks Industry Rank. This group has gained an average of 9.79% so far this year, so SAVE is slightly underperforming its industry in this area.

Going forward, investors interested in Transportation stocks should continue to pay close attention to SAVE as it looks to continue its solid performance.


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