Are Aerospace Stocks Lagging ATI INC (ATI) This Year?
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? Let's take a closer look at the stock's year-to-date performance to find out.
ATI is one of 64 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. ATI is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ATI's full-year earnings has moved 1.3% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, ATI has gained about 51.7% so far this year. In comparison, Aerospace companies have returned an average of 33.5%. This means that ATI is performing better than its sector in terms of year-to-date returns.
Rocket Lab Corporation (RKLB) is another Aerospace stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 141.5%.
The consensus estimate for Rocket Lab Corporation's current year EPS has increased 1.2% over the past three months. 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 38 individual companies and currently sits at #35 in the Zacks Industry Rank. On average, this group has gained an average of 33.4% so far this year, meaning that ATI is performing better in terms of year-to-date returns. Rocket Lab Corporation is also part of the same industry.
Investors with an interest in Aerospace stocks should continue to track ATI and Rocket Lab Corporation. These stocks will be looking to continue their solid performance.
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This article originally published on Zacks Investment Research (zacks.com).
