Is Elbit Systems (ESLT) Outperforming Other Aerospace Stocks This Year?
The Aerospace group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Elbit Systems (ESLT) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Elbit Systems is a member of the Aerospace sector. This group includes 67 individual stocks and currently holds a Zacks Sector Rank of #2. 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. Elbit Systems is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ESLT's full-year earnings has moved 12.5% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, ESLT has gained about 58.1% so far this year. Meanwhile, stocks in the Aerospace group have gained about 4% on average. This means that Elbit Systems is outperforming the sector as a whole this year.
Moog (MOG.A) is another Aerospace stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 66.5%.
In Moog's case, the consensus EPS estimate for the current year increased 4.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Elbit Systems is a member of the Aerospace - Defense Equipment industry, which includes 37 individual companies and currently sits at #64 in the Zacks Industry Rank. Stocks in this group have gained about 15.4% so far this year, so ESLT is performing better this group in terms of year-to-date returns. Moog is also part of the same industry.
Elbit Systems and Moog could continue their solid performance, so investors interested in Aerospace stocks should continue to pay close attention to these stocks.
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This article originally published on Zacks Investment Research (zacks.com).
