Investors focused on the Transportation space have likely heard of Spirit Airlines (SAVE), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of SAVE and the rest of the Transportation group's stocks.
Spirit Airlines is one of 152 individual stocks in the Transportation sector. Collectively, these companies sit at #5 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. SAVE is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for SAVE's full-year earnings has moved 24.69% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that SAVE has returned about 44.01% since the start of the calendar year. Meanwhile, the Transportation sector has returned an average of -5.20% on a year-to-date basis. This means that Spirit Airlines is outperforming the sector as a whole this year.
Breaking things down more, SAVE is a member of the Transportation - Airline industry, which includes 28 individual companies and currently sits at #87 in the Zacks Industry Rank. On average, this group has lost an average of 11.82% so far this year, meaning that SAVE is performing better in terms of year-to-date returns.
SAVE will likely be looking to continue its solid performance, so investors interested in Transportation stocks should continue to pay close attention to the company.
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