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Is Aerojet Rocketdyne Holdings (AJRD) Stock Outpacing Its Aerospace Peers This Year?

Zacks Equity Research

Investors focused on the Aerospace space have likely heard of Aerojet Rocketdyne Holdings (AJRD), but is the stock performing well in comparison to the rest of its sector peers? 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.

Aerojet Rocketdyne Holdings is a member of our Aerospace group, which includes 34 different companies and currently sits at #1 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 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 90 days, the Zacks Consensus Estimate for AJRD's full-year earnings has moved 10.18% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

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According to our latest data, AJRD has moved about 41.56% on a year-to-date basis. Meanwhile, the Aerospace sector has returned an average of 30.10% on a year-to-date basis. As we can see, Aerojet Rocketdyne Holdings is performing better than its sector in the calendar year.

To break things down more, AJRD belongs to the Aerospace - Defense Equipment industry, a group that includes 19 individual companies and currently sits at #32 in the Zacks Industry Rank. This group has gained an average of 34.40% so far this year, so AJRD is performing better in this area.

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.


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Zacks Investment Research