Investors focused on the Transportation space have likely heard of Spirit Airlines (SAVE - 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 SAVE and the rest of the Transportation group's stocks.
Spirit Airlines is a member of the Transportation sector. This group includes 150 individual stocks and currently holds a Zacks Sector Rank of #3. 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. SAVE is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for SAVE's full-year earnings has moved 26.73% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that SAVE has returned about 21.03% since the start of the calendar year. Meanwhile, stocks in the Transportation group have lost about 20.03% on average. This shows that Spirit Airlines is outperforming its peers so far this year.
To break things down more, SAVE belongs to the Transportation - Airline industry, a group that includes 28 individual companies and currently sits at #24 in the Zacks Industry Rank. On average, this group has lost an average of 25.08% so far this year, meaning that SAVE is performing better in terms of year-to-date returns.
Investors with an interest in Transportation stocks should continue to track SAVE. The stock will be looking to continue its solid performance.