The latest trading session saw Air Industries (AIRI – Free Report) ending at $3.42, denoting a -1.72% adjustment from its last day’s close. This move lagged the S&P 500’s daily gain of 0.38%. Elsewhere, the Dow lost 0.03%, while the tech-heavy Nasdaq added 0.87%.
The maker of parts for the aerospace industry and defense contractors’s stock has dropped by 7.69% in the past month, falling short of the Aerospace sector’s gain of 0.19% and the S&P 500’s loss of 5.59%.
Market participants will be closely following the financial results of Air Industries in its upcoming release. The company is predicted to post an EPS of $0.02, indicating a 66.67% decline compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $14 million, showing a 3.93% escalation compared to the year-ago quarter.
Investors might also notice recent changes to analyst estimates for Air Industries. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Air Industries presently features a Zacks Rank of #3 (Hold).
The Aerospace – Defense industry is part of the Aerospace sector. This industry, currently bearing a Zacks Industry Rank of 152, finds itself in the bottom 39% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow AIRI in the coming trading sessions, be sure to utilize Zacks.com.
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