Air Industries (AIRI - Free Report) closed at $2.80 in the latest trading session, marking a +1.82% move from the prior day. This change outpaced the S&P 500's 0.29% loss on the day. Elsewhere, the Dow lost 0.46%, while the tech-heavy Nasdaq lost 0.27%.
Prior to today's trading, shares of the maker of parts for the aerospace industry and defense contractors had gained 51.1% over the past month. This has outpaced the Aerospace sector's gain of 4.01% and the S&P 500's gain of 4.56% in that time.
AIRI will be looking to display strength as it nears its next earnings release.
Investors should also note any recent changes to analyst estimates for AIRI. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. AIRI is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, AIRI is holding a Forward P/E ratio of 55. For comparison, its industry has an average Forward P/E of 18.23, which means AIRI is trading at a premium to the group.
The Aerospace - Defense industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 31, which puts it in the top 13% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow AIRI in the coming trading sessions, be sure to utilize Zacks.com.