Air Industries (AIRI) closed at $3.62 in the latest trading session, marking a -0.55% move from the prior day. This change lagged the S&P 500's daily gain of 1.47%. Elsewhere, the Dow saw an upswing of 1.39%, while the tech-heavy Nasdaq appreciated by 1.51%.
Shares of the maker of parts for the aerospace industry and defense contractors witnessed a gain of 7.06% over the previous month, beating the performance of the Aerospace sector with its gain of 2.34% and the S&P 500's loss of 0.47%.
The investment community will be paying close attention to the earnings performance of Air Industries in its upcoming release. The company's upcoming EPS is projected at -$0.04, signifying an 80.95% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $14 million, showing a 0.43% drop compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.23 per share and revenue of $57.05 million. These totals would mark changes of +43.9% and +3.52%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Air Industries. These revisions typically reflect the latest short-term business trends, which can change frequently. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 228.57% lower. Air Industries is currently a Zacks Rank #5 (Strong Sell).
The Aerospace - Defense industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 146, which puts it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming 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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