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? By taking a look at the stock's year-to-date performance in comparison to its Transportation peers, we might be able to answer that question.
ArcBest is one of 144 individual stocks in the Transportation sector. Collectively, these companies sit at #8 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. ARCB is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for ARCB's full-year earnings has moved 31.28% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, ARCB has moved about 33.71% on a year-to-date basis. Meanwhile, the Transportation sector has returned an average of 1.89% on a year-to-date basis. This shows that ArcBest is outperforming its peers so far this year.
Looking more specifically, ARCB belongs to the Transportation - Truck industry, a group that includes 17 individual stocks and currently sits at #3 in the Zacks Industry Rank. On average, this group has gained an average of 2.97% so far 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.