Investors focused on the Aerospace space have likely heard of Aerojet Rocketdyne Holdings (AJRD - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of AJRD and the rest of the Aerospace group's stocks.
Aerojet Rocketdyne Holdings is a member of the Aerospace sector. This group includes 33 individual stocks and currently holds a Zacks Sector Rank of #2. 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 system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. AJRD is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for AJRD's full-year earnings has moved 10.18% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, AJRD has gained about 40.25% so far this year. At the same time, Aerospace stocks have gained an average of 31.94%. This means that Aerojet Rocketdyne Holdings is performing better than its sector in terms of year-to-date returns.
Looking more specifically, AJRD belongs to the Aerospace - Defense Equipment industry, a group that includes 19 individual stocks and currently sits at #55 in the Zacks Industry Rank. Stocks in this group have gained about 36.22% so far this year, so AJRD is performing better this group in terms of year-to-date returns.
AJRD will likely be looking to continue its solid performance, so investors interested in Aerospace stocks should continue to pay close attention to the company.