Investors interested in Aerospace stocks should always be looking to find the best-performing companies in the group. AerSale Corporation (ASLE) 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? A quick glance at the company's year-to-date performance in comparison to the rest of the Aerospace sector should help us answer this question.
AerSale Corporation is a member of our Aerospace group, which includes 51 different companies and currently sits at #3 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 proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. AerSale Corporation is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for ASLE's full-year earnings has moved 74.2% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that ASLE has returned about 24% since the start of the calendar year. In comparison, Aerospace companies have returned an average of 2.5%. This shows that AerSale Corporation is outperforming its peers so far this year.
Another stock in the Aerospace sector, Astronics Corporation (ATRO), has outperformed the sector so far this year. The stock's year-to-date return is 54.6%.
Over the past three months, Astronics Corporation's consensus EPS estimate for the current year has increased 10.3%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, AerSale Corporation belongs to the Aerospace - Defense Equipment industry, a group that includes 26 individual stocks and currently sits at #22 in the Zacks Industry Rank. Stocks in this group have gained about 2.2% so far this year, so ASLE is performing better this group in terms of year-to-date returns. Astronics Corporation is also part of the same industry.
Going forward, investors interested in Aerospace stocks should continue to pay close attention to AerSale Corporation and Astronics Corporation as they could maintain their solid performance.
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AerSale Corporation (ASLE): Free Stock Analysis Report Astronics Corporation (ATRO): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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