Is AeroVironment (AVAV) Outperforming Other Aerospace Stocks This Year?
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Investors interested in Aerospace stocks should always be looking to find the best-performing companies in the group. Is AeroVironment (AVAV) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
AeroVironment is a member of our Aerospace group, which includes 46 different companies and currently sits at #2 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 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. AeroVironment is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for AVAV's full-year earnings has moved 0.6% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that AVAV has returned about 43.5% since the start of the calendar year. In comparison, Aerospace companies have returned an average of 3.7%. This means that AeroVironment is outperforming the sector as a whole this year.
One other Aerospace stock that has outperformed the sector so far this year is Leonardo DRS, Inc. (DRS). The stock is up 33.2% year-to-date.
Over the past three months, Leonardo DRS, Inc.'s consensus EPS estimate for the current year has increased 4.3%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, AeroVironment is a member of the Aerospace - Defense Equipment industry, which includes 23 individual companies and currently sits at #69 in the Zacks Industry Rank. This group has gained an average of 21% so far this year, so AVAV is performing better in this area. Leonardo DRS, Inc. is also part of the same industry.
Investors interested in the Aerospace sector may want to keep a close eye on AeroVironment and Leonardo DRS, Inc. as they attempt to continue their solid performance.
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AeroVironment, Inc. (AVAV) : Free Stock Analysis Report
Leonardo DRS, Inc. (DRS) : Free Stock Analysis Report