For those looking to find strong Transportation stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Spirit Airlines (SAVE) 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.
Spirit Airlines is a member of the Transportation sector. This group includes 147 individual stocks and currently holds a Zacks Sector Rank of #11. 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. SAVE is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for SAVE's full-year earnings has moved 14.49% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that SAVE has returned about 7.44% since the start of the calendar year. In comparison, Transportation companies have returned an average of -0.27%. This means that Spirit Airlines is performing better than its sector in terms of year-to-date returns.
Looking more specifically, SAVE belongs to the Transportation - Airline industry, a group that includes 28 individual stocks and currently sits at #33 in the Zacks Industry Rank. On average, this group has lost an average of 1.28% so far this year, meaning that SAVE is performing better in terms of year-to-date returns.
SAVE will likely be looking to continue its solid performance, so investors interested in Transportation stocks should continue to pay close attention to the company.