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? One simple way to answer this question is to take a look at the year-to-date performance of AVAV and the rest of the Aerospace group's stocks.
AeroVironment is one of 40 companies in the Aerospace group. The Aerospace group currently sits at #1 within 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track 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 three months, the Zacks Consensus Estimate for AVAV's full-year earnings has moved 11.42% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that AVAV has returned about 8.31% since the start of the calendar year. At the same time, Aerospace stocks have gained an average of 6.03%. This means that AeroVironment is performing better than its sector in terms of year-to-date returns.
To break things down more, AVAV belongs to the Aerospace - Defense Equipment industry, a group that includes 23 individual companies and currently sits at #61 in the Zacks Industry Rank. Stocks in this group have gained about 4.26% so far this year, so AVAV is performing better this group 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.