For those looking to find strong Transportation stocks, it is prudent to search for companies in the group that are outperforming their peers. Is SkyWest (SKYW - Free Report) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Transportation sector should help us answer this question.
SkyWest is a member of the Transportation sector. This group includes 156 individual stocks and currently holds a Zacks Sector Rank of #11. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. SKYW is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for SKYW's full-year earnings has moved 1.35% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, SKYW has moved about 28.18% on a year-to-date basis. Meanwhile, stocks in the Transportation group have gained about 10.97% on average. As we can see, SkyWest is performing better than its sector in the calendar year.
Breaking things down more, SKYW is a member of the Transportation - Airline industry, which includes 28 individual companies and currently sits at #39 in the Zacks Industry Rank. On average, this group has gained an average of 3.35% so far this year, meaning that SKYW is performing better in terms of year-to-date returns.
Investors in the Transportation sector will want to keep a close eye on SKYW as it attempts to continue its solid performance.