Investors interested in Aerospace stocks should always be looking to find the best-performing companies in the group. Has Draganfly Inc. (DPRO) 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.
Draganfly Inc. is one of 64 companies in the Aerospace group. The Aerospace group currently sits at #6 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. Draganfly Inc. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for DPRO's full-year earnings has moved 27.6% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, DPRO has returned 82% so far this year. Meanwhile, stocks in the Aerospace group have gained about 16.9% on average. This means that Draganfly Inc. is outperforming the sector as a whole this year.
Another Aerospace stock, which has outperformed the sector so far this year, is MTU Aero Engines AG (MTUAY). The stock has returned 20.9% year-to-date.
In MTU Aero Engines AG's case, the consensus EPS estimate for the current year increased 6.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Draganfly Inc. belongs to the Aerospace - Defense industry, which includes 25 individual stocks and currently sits at #63 in the Zacks Industry Rank. MTU Aero Engines AG is also part of the same industry.
Draganfly Inc. and MTU Aero Engines AG could continue their solid performance, so investors interested in Aerospace stocks should continue to pay close attention to these stocks.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners UpDraganfly Inc. (DPRO) : Free Stock Analysis Report
MTU Aero Engines AG (MTUAY) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
