Investors focused on the Transportation space have likely heard of ArcBest (ARCB - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of ARCB and the rest of the Transportation group's stocks.
ArcBest is a member of our Transportation group, which includes 144 different companies and currently sits at #13 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. ARCB is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for ARCB's full-year earnings has moved 26.59% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, ARCB has returned 30.21% so far this year. In comparison, Transportation companies have returned an average of 0.10%. This shows that ArcBest is outperforming its peers so far this year.
Breaking things down more, ARCB is a member of the Transportation - Truck industry, which includes 17 individual companies and currently sits at #26 in the Zacks Industry Rank. On average, stocks in this group have gained 9.22% this year, meaning that ARCB is performing better in terms of year-to-date returns.
Going forward, investors interested in Transportation stocks should continue to pay close attention to ARCB as it looks to continue its solid performance.