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? A quick glance at the company's year-to-date performance in comparison to the rest of the Aerospace sector should help us answer this question.
AeroVironment is one of 39 companies in the Aerospace group. The Aerospace group currently sits at #1 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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).
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.
Based on the most recent data, AVAV has returned 15.49% so far this year. At the same time, Aerospace stocks have lost an average of 12.13%. This means that AeroVironment is outperforming the sector as a whole this year.
Looking more specifically, AVAV belongs to the Aerospace - Defense Equipment industry, a group that includes 23 individual stocks and currently sits at #23 in the Zacks Industry Rank. On average, this group has lost an average of 8.49% so far this year, meaning that AVAV is performing better in terms of year-to-date returns.
AVAV will likely be looking to continue its solid performance, so investors interested in Aerospace stocks should continue to pay close attention to the company.