The Aerospace group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is AeroVironment (AVAV - Free Report) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Aerospace peers, we might be able to answer that question.
AeroVironment 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 includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. AVAV is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for AVAV's full-year earnings has moved 6.31% higher within the past quarter. 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 91.13% since the start of the calendar year. Meanwhile, the Aerospace sector has returned an average of 9.82% on a year-to-date basis. As we can see, AeroVironment is performing better than its sector in the calendar year.
Looking more specifically, AVAV belongs to the Aerospace - Defense Equipment industry, which includes 25 individual stocks and currently sits at #88 in the Zacks Industry Rank. Stocks in this group have gained about 12.90% so far this year, so AVAV is performing better this group in terms of year-to-date returns.
AVAV will likely be looking to continue its solid performance, so investors interested Aerospace stocks should continue to pay close attention to the company.