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ArcBest (ARCB) Stock Sinks As Market Gains: What You Should Know
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ArcBest (ARCB - Free Report) closed at $75.98 in the latest trading session, marking a -0.55% move from the prior day. This change lagged the S&P 500's 1.63% gain on the day. Elsewhere, the Dow gained 1.07%, while the tech-heavy Nasdaq added 0.3%.
Heading into today, shares of the freight transportation and logistics company had gained 8% over the past month, outpacing the Transportation sector's gain of 1.9% and the S&P 500's gain of 2.94% in that time.
Wall Street will be looking for positivity from ArcBest as it approaches its next earnings report date. This is expected to be November 1, 2022. On that day, ArcBest is projected to report earnings of $3.75 per share, which would represent year-over-year growth of 44.79%. Meanwhile, our latest consensus estimate is calling for revenue of $1.35 billion, up 32.54% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $14.18 per share and revenue of $5.37 billion, which would represent changes of +66.43% and +35.04%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for ArcBest. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.76% lower within the past month. ArcBest is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that ArcBest has a Forward P/E ratio of 5.39 right now. This represents a discount compared to its industry's average Forward P/E of 11.25.
Investors should also note that ARCB has a PEG ratio of 0.31 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Transportation - Truck industry currently had an average PEG ratio of 1.06 as of yesterday's close.
The Transportation - Truck industry is part of the Transportation sector. This group has a Zacks Industry Rank of 97, putting it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ARCB in the coming trading sessions, be sure to utilize Zacks.com.
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ArcBest (ARCB) Stock Sinks As Market Gains: What You Should Know
ArcBest (ARCB - Free Report) closed at $75.98 in the latest trading session, marking a -0.55% move from the prior day. This change lagged the S&P 500's 1.63% gain on the day. Elsewhere, the Dow gained 1.07%, while the tech-heavy Nasdaq added 0.3%.
Heading into today, shares of the freight transportation and logistics company had gained 8% over the past month, outpacing the Transportation sector's gain of 1.9% and the S&P 500's gain of 2.94% in that time.
Wall Street will be looking for positivity from ArcBest as it approaches its next earnings report date. This is expected to be November 1, 2022. On that day, ArcBest is projected to report earnings of $3.75 per share, which would represent year-over-year growth of 44.79%. Meanwhile, our latest consensus estimate is calling for revenue of $1.35 billion, up 32.54% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $14.18 per share and revenue of $5.37 billion, which would represent changes of +66.43% and +35.04%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for ArcBest. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.76% lower within the past month. ArcBest is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that ArcBest has a Forward P/E ratio of 5.39 right now. This represents a discount compared to its industry's average Forward P/E of 11.25.
Investors should also note that ARCB has a PEG ratio of 0.31 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Transportation - Truck industry currently had an average PEG ratio of 1.06 as of yesterday's close.
The Transportation - Truck industry is part of the Transportation sector. This group has a Zacks Industry Rank of 97, putting it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ARCB in the coming trading sessions, be sure to utilize Zacks.com.