Air Industries (AIRI) ended the recent trading session at $3.25, demonstrating a -1.22% swing from the preceding day's closing price. This change lagged the S&P 500's daily loss of 0.17%. On the other hand, the Dow registered a loss of 0.39%, and the technology-centric Nasdaq decreased by 0.05%.
Prior to today's trading, shares of the maker of parts for the aerospace industry and defense contractors had lost 16.92% over the past month. This has lagged the Aerospace sector's loss of 1.42% and the S&P 500's loss of 3.94% in that time.
Market participants will be closely following the financial results of Air Industries in its upcoming release. The company is forecasted to report an EPS of -$0.11, showcasing a 47.62% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $13.5 million, down 3.98% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Air Industries. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Currently, Air Industries is carrying a Zacks Rank of #3 (Hold).
The Aerospace - Defense industry is part of the Aerospace sector. This industry, currently bearing a Zacks Industry Rank of 164, finds itself in the bottom 34% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Air Industries Group (AIRI): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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