Investors focused on the Aerospace space have likely heard of AeroVironment (AVAV - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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 a member of our Aerospace group, which includes 39 different companies and currently sits at #1 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 proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. AVAV is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for AVAV's full-year earnings has moved 17.12% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that AVAV has returned about 27.94% since the start of the calendar year. Meanwhile, the Aerospace sector has returned an average of -0.46% on a year-to-date basis. This shows that AeroVironment is outperforming its peers so far this year.
Breaking things down more, AVAV is a member of the Aerospace - Defense Equipment industry, which includes 23 individual companies and currently sits at #50 in the Zacks Industry Rank. On average, stocks in this group have gained 2.52% this year, meaning that AVAV is performing better in terms of year-to-date returns.
Going forward, investors interested in Aerospace stocks should continue to pay close attention to AVAV as it looks to continue its solid performance.