Yahoo Finance Air Industries (AIRI) Stock Sinks As Market Gains: Here's Why
Air Industries (AIRI) ended the recent trading session at $3.32, demonstrating a -0.9% swing from the preceding day's closing price. This change lagged the S&P 500's 0.09% gain on the day. Elsewhere, the Dow saw an upswing of 0.09%, while the tech-heavy Nasdaq appreciated by 0.3%.
Shares of the maker of parts for the aerospace industry and defense contractors witnessed a loss of 11.14% over the previous month, trailing the performance of the Aerospace sector with its loss of 1.85% and the S&P 500's gain of 3.38%.
Market participants will be closely following the financial results of Air Industries in its upcoming release. The company is expected to report EPS of -$0.21, down 75% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $12 million, indicating a 9.16% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of -$0.65 per share and a revenue of $53.01 million, demonstrating changes of 0% and +2.9%, respectively, from the preceding year.
Investors should also take note of any recent adjustments 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.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 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 is currently sporting a Zacks Rank of #4 (Sell).
The Aerospace - Defense industry is part of the Aerospace sector. This industry, currently bearing a Zacks Industry Rank of 90, finds itself in the top 36% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Air Industries Group (AIRI) : Free Stock Analysis Report
