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For those looking to find strong Aerospace stocks, it is prudent to search for companies in the group that are outperforming their peers. Has AerSale Corporation (ASLE) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
AerSale Corporation is one of 51 companies in the Aerospace group. The Aerospace group currently sits at #2 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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 14.9% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, ASLE has gained about 29.7% so far this year. Meanwhile, stocks in the Aerospace group have lost about 0.1% on average. This means that AerSale Corporation is outperforming the sector as a whole this year.
Astronics Corporation (ATRO) is another Aerospace stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 52.1%.
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 #41 in the Zacks Industry Rank. On average, stocks in this group have gained 0.5% this year, meaning that ASLE is performing better 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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This article originally published on Zacks Investment Research (zacks.com).