Investors focused on the Aerospace space have likely heard of Aerojet Rocketdyne Holdings (AJRD - Free Report) , 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 AJRD and the rest of the Aerospace group's stocks.
Aerojet Rocketdyne Holdings is one of 41 individual stocks in the Aerospace sector. Collectively, these companies sit at #1 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. AJRD is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for AJRD's full-year earnings has moved 30.93% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that AJRD has returned about 16.99% since the start of the calendar year. Meanwhile, stocks in the Aerospace group have gained about 10.17% on average. As we can see, Aerojet Rocketdyne Holdings is performing better than its sector in the calendar year.
Breaking things down more, AJRD is a member of the Aerospace - Defense Equipment industry, which includes 25 individual companies and currently sits at #89 in the Zacks Industry Rank. This group has gained an average of 11.25% so far this year, so AJRD is performing better in this area.
Investors with an interest in Aerospace stocks should continue to track AJRD. The stock will be looking to continue its solid performance.