For those looking to find strong Aerospace stocks, it is prudent to search for companies in the group that are outperforming their peers. Has ATI (ATI) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Aerospace peers, we might be able to answer that question.
ATI is one of 68 companies in the Aerospace group. The Aerospace group currently sits at #1 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. ATI is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ATI's full-year earnings has moved 7.5% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, ATI has returned 11.8% so far this year. At the same time, Aerospace stocks have gained an average of 10.1%. This means that ATI is outperforming the sector as a whole this year.
Draganfly Inc. (DPRO) is another Aerospace stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 18.8%.
Over the past three months, Draganfly Inc.'s consensus EPS estimate for the current year has increased 1.6%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, ATI is a member of the Aerospace - Defense Equipment industry, which includes 37 individual companies and currently sits at #60 in the Zacks Industry Rank. On average, this group has gained an average of 12% so far this year, meaning that ATI is slightly underperforming its industry in terms of year-to-date returns.
In contrast, Draganfly Inc. falls under the Aerospace - Defense industry. Currently, this industry has 30 stocks and is ranked #96. Since the beginning of the year, the industry has moved +9.3%.
Going forward, investors interested in Aerospace stocks should continue to pay close attention to ATI and Draganfly Inc. as they could maintain their solid performance.
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ATI Inc. (ATI): Free Stock Analysis Report Draganfly Inc. (DPRO): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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