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Is AeroVironment (AVAV) Stock Outpacing Its Aerospace Peers This Year?

Zacks Equity Research
Updated
Mutual Fund Report for TRMCX

Investors focused on the Aerospace space have likely heard of AeroVironment (AVAV), 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 41 individual stocks in the Aerospace sector. Collectively, these companies sit at #1 in 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 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. AVAV is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for AVAV's full-year earnings has moved 12.89% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

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According to our latest data, AVAV has moved about 96.74% on a year-to-date basis. Meanwhile, stocks in the Aerospace group have gained about 14.65% on average. This shows that AeroVironment is outperforming its peers so far this year.

To break things down more, AVAV belongs to the Aerospace - Defense Equipment industry, a group that includes 25 individual companies and currently sits at #88 in the Zacks Industry Rank. This group has gained an average of 15.63% so far this year, so AVAV is performing better in this area.

Going forward, investors interested in Aerospace stocks should continue to pay close attention to AVAV as it looks to continue its solid performance.


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