For those looking to find strong Transportation stocks, it is prudent to search for companies in the group that are outperforming their peers. SkyWest (SKYW) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of SKYW and the rest of the Transportation group's stocks.
SkyWest is a member of our Transportation group, which includes 149 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 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. SKYW is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for SKYW's full-year earnings has moved 5.24% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, SKYW has returned 17.72% so far this year. In comparison, Transportation companies have returned an average of 11.56%. This means that SkyWest is outperforming the sector as a whole this year.
To break things down more, SKYW belongs to the Transportation - Airline industry, a group that includes 28 individual companies and currently sits at #5 in the Zacks Industry Rank. On average, this group has gained an average of 10.74% so far this year, meaning that SKYW is performing better in terms of year-to-date returns.
Investors in the Transportation sector will want to keep a close eye on SKYW as it attempts to continue its solid performance.
SkyWest, Inc. (SKYW): Free Stock Analysis Report
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Zacks Investment Research