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 one of 67 individual stocks in the Aerospace sector. Collectively, these companies sit at #7 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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 90 days, the Zacks Consensus Estimate for ESLT's full-year earnings has moved 9.2% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, ESLT has moved about 47.5% on a year-to-date basis. At the same time, Aerospace stocks have lost an average of 0.6%. This means that Elbit Systems is outperforming the sector as a whole this year.
One other Aerospace stock that has outperformed the sector so far this year is Innovative Solutions and Support, Inc. (ISSC). The stock is up 5.9% year-to-date.
Over the past three months, Innovative Solutions and Support, Inc.'s consensus EPS estimate for the current year has increased 15%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Elbit Systems belongs to the Aerospace - Defense Equipment industry, a group that includes 37 individual companies and currently sits at #155 in the Zacks Industry Rank. Stocks in this group have gained about 3.4% so far this year, so ESLT is performing better this group in terms of year-to-date returns. Innovative Solutions and Support, Inc. is also part of the same industry.
Investors with an interest in Aerospace stocks should continue to track Elbit Systems and Innovative Solutions and Support, Inc.. These stocks will be looking to continue their solid performance.
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This article originally published on Zacks Investment Research (zacks.com).