For those looking to find strong Aerospace stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Leonardo DRS, Inc. (DRS) one of those stocks right now? 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.
Leonardo DRS, Inc. is one of 76 individual stocks in the Aerospace sector. Collectively, these companies sit at #1 in 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 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. Leonardo DRS, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for DRS' full-year earnings has moved 7.1% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, DRS has gained about 24.9% so far this year. In comparison, Aerospace companies have returned an average of 5.1%. As we can see, Leonardo DRS, Inc. is performing better than its sector in the calendar year.
One other Aerospace stock that has outperformed the sector so far this year is Outdoor Holding Company (POWW). The stock is up 33.3% year-to-date.
Over the past three months, Outdoor Holding Company's consensus EPS estimate for the current year has increased 160%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Leonardo DRS, Inc. belongs to the Aerospace - Defense Equipment industry, a group that includes 36 individual stocks and currently sits at #41 in the Zacks Industry Rank. This group has gained an average of 7.4% so far this year, so DRS is performing better in this area. Outdoor Holding Company is also part of the same industry.
Investors with an interest in Aerospace stocks should continue to track Leonardo DRS, Inc. and Outdoor Holding Company. These stocks will be looking to continue their solid performance.
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