For those looking to find strong Aerospace stocks, it is prudent to search for companies in the group that are outperforming their peers. Aerojet Rocketdyne Holdings (AJRD - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of AJRD and the rest of the Aerospace group's stocks.
Aerojet Rocketdyne Holdings is a member of the Aerospace sector. This group includes 33 individual stocks and currently holds a Zacks Sector Rank of #2. 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 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. AJRD is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for AJRD's full-year earnings has moved 13.77% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, AJRD has returned 41.73% so far this year. At the same time, Aerospace stocks have gained an average of 24.24%. This means that Aerojet Rocketdyne Holdings is performing better than its sector in terms of year-to-date returns.
Looking more specifically, AJRD belongs to the Aerospace - Defense Equipment industry, which includes 19 individual stocks and currently sits at #77 in the Zacks Industry Rank. On average, stocks in this group have gained 35.21% this year, meaning that AJRD is performing better in terms of year-to-date returns.
AJRD will likely be looking to continue its solid performance, so investors interested in Aerospace stocks should continue to pay close attention to the company.