Investors interested in Aerospace stocks should always be looking to find the best-performing companies in the group. Has Elbit Systems (ESLT) 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.
Elbit Systems is a member of the Aerospace sector. This group includes 67 individual stocks and currently holds a Zacks Sector Rank of #12. 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 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).
The Zacks Consensus Estimate for ESLT's full-year earnings has moved 3.4% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, ESLT has gained about 58.2% so far this year. Meanwhile, stocks in the Aerospace group have gained about 2.2% on average. As we can see, Elbit Systems is performing better than its sector in the calendar year.
Lockheed Martin (LMT) is another Aerospace stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 29.8%.
The consensus estimate for Lockheed Martin's current year EPS has increased 1.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Elbit Systems belongs to the Aerospace - Defense Equipment industry, a group that includes 37 individual stocks and currently sits at #150 in the Zacks Industry Rank. Stocks in this group have gained about 1.4% so far this year, so ESLT is performing better this group in terms of year-to-date returns.
On the other hand, Lockheed Martin belongs to the Aerospace - Defense industry. This 29-stock industry is currently ranked #147. The industry has moved +2.5% year to date.
Going forward, investors interested in Aerospace stocks should continue to pay close attention to Elbit Systems and Lockheed Martin as they could maintain their solid performance.
Zacks' Research Chief Names "Stock Most Likely to Double"
Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.
This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.
Free: See Our Top Stock And 4 Runners UpWant 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
Elbit Systems Ltd. (ESLT): Free Stock Analysis Report
Lockheed Martin Corporation (LMT): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).