Investors interested in Aerospace stocks should always be looking to find the best-performing companies in the group. Has The Boeing (BA - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
The Boeing is one of 37 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. BA is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for BA's full-year earnings has moved 2.98% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, BA has returned 20.33% so far this year. At the same time, Aerospace stocks have gained an average of 2.70%. This means that The Boeing is outperforming the sector as a whole this year.
Looking more specifically, BA belongs to the Aerospace - Defense industry, a group that includes 13 individual stocks and currently sits at #57 in the Zacks Industry Rank. This group has gained an average of 3.51% so far this year, so BA is performing better in this area.
BA will likely be looking to continue its solid performance, so investors interested in Aerospace stocks should continue to pay close attention to the company.