Is Spirit Aerosystems Holdings (SPR) Stock Outpacing Its Aerospace Peers This Year?
Investors focused on the Aerospace space have likely heard of Spirit Aerosystems Holdings (SPR), but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Aerospace sector should help us answer this question.
Spirit Aerosystems Holdings is one of 38 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. SPR is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for SPR's full-year earnings has moved 3.73% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, SPR has moved about 26.87% on a year-to-date basis. In comparison, Aerospace companies have returned an average of 15.57%. This means that Spirit Aerosystems Holdings is outperforming the sector as a whole this year.
Looking more specifically, SPR belongs to the Aerospace - Defense Equipment industry, which includes 22 individual stocks and currently sits at #45 in the Zacks Industry Rank. On average, this group has gained an average of 19.35% so far this year, meaning that SPR is performing better in terms of year-to-date returns.
Investors with an interest in Aerospace stocks should continue to track SPR. The stock will be looking to continue its solid performance.
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