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ArcBest (ARCB) closed the most recent trading day at $74.31, moving +1.38% from the previous trading session. This change outpaced the S&P 500's 0.84% loss on the day. Elsewhere, the Dow lost 0.69%, while the tech-heavy Nasdaq lost 0.05%.
Heading into today, shares of the freight transportation and logistics company had gained 7.3% over the past month, outpacing the Transportation sector's loss of 1.22% and the S&P 500's gain of 2.02% in that time.
ArcBest will be looking to display strength as it nears its next earnings release, which is expected to be July 29, 2022. On that day, ArcBest is projected to report earnings of $3.91 per share, which would represent year-over-year growth of 98.48%. Our most recent consensus estimate is calling for quarterly revenue of $1.35 billion, up 42.34% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $13.58 per share and revenue of $5.33 billion. These totals would mark changes of +59.39% and +33.98%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for ArcBest. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. Within the past 30 days, our consensus EPS projection has moved 0.28% higher. ArcBest is currently a Zacks Rank #2 (Buy).
Valuation is also important, so investors should note that ArcBest has a Forward P/E ratio of 5.4 right now. This valuation marks a discount compared to its industry's average Forward P/E of 12.21.
Also, we should mention that ARCB has a PEG ratio of 0.23. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Transportation - Truck stocks are, on average, holding a PEG ratio of 1.02 based on yesterday's closing prices.
The Transportation - Truck industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 18, which puts it in the top 8% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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