Investors interested in Aerospace stocks should always be looking to find the best-performing companies in the group. Is Heico (HEI) one of those stocks right now? 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.
Heico is a member of the Aerospace sector. This group includes 39 individual stocks and currently holds a Zacks Sector Rank of #1. 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. HEI is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for HEI's full-year earnings has moved 4.13% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that HEI has returned about 3.20% since the start of the calendar year. In comparison, Aerospace companies have returned an average of 10.19%. This means that Heico is outperforming the sector as a whole this year.
Looking more specifically, HEI belongs to the Aerospace - Defense Equipment industry, which includes 23 individual stocks and currently sits at #48 in the Zacks Industry Rank. On average, this group has gained an average of 7.56% so far this year, meaning that HEI is slightly underperforming its industry in terms of year-to-date returns.
Going forward, investors interested in Aerospace stocks should continue to pay close attention to HEI as it looks to continue its solid performance.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report