The Aerospace group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Howmet (HWM) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Howmet is a member of our Aerospace group, which includes 77 different companies and currently sits at #1 in 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 model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Howmet is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for HWM's full-year earnings has moved 10.6% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that HWM has returned about 34.3% since the start of the calendar year. In comparison, Aerospace companies have returned an average of 5.2%. This means that Howmet is performing better than its sector in terms of year-to-date returns.
Loar Holdings Inc. (LOAR) is another Aerospace stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 14.4%.
The consensus estimate for Loar Holdings Inc.'s current year EPS has increased 75.8% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Howmet belongs to the Aerospace - Defense industry, a group that includes 39 individual companies and currently sits at #107 in the Zacks Industry Rank. On average, this group has gained an average of 1.7% so far this year, meaning that HWM is performing better in terms of year-to-date returns.
Loar Holdings Inc., however, belongs to the Aerospace - Defense Equipment industry. Currently, this 37-stock industry is ranked #43. The industry has moved +13.6% so far this year.
Investors with an interest in Aerospace stocks should continue to track Howmet and Loar Holdings Inc.. These stocks will be looking to continue their solid performance.
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Howmet Aerospace Inc. (HWM): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).