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Array Technologies, Inc. (ARRY) Gains As Market Dips: What You Should Know
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Array Technologies, Inc. (ARRY - Free Report) closed the most recent trading day at $19.69, moving +0.05% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.16%. Meanwhile, the Dow lost 0.26%, and the Nasdaq, a tech-heavy index, added 1.58%.
Heading into today, shares of the company had lost 18.14% over the past month, lagging the Oils-Energy sector's loss of 4.75% and the S&P 500's gain of 0.84% in that time.
Array Technologies, Inc. will be looking to display strength as it nears its next earnings release. In that report, analysts expect Array Technologies, Inc. to post earnings of $0.11 per share. This would mark year-over-year growth of 283.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $332.4 million, up 51.17% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Array Technologies, Inc.These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.16% lower. Array Technologies, Inc. is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Array Technologies, Inc. is currently trading at a Forward P/E ratio of 21.24. For comparison, its industry has an average Forward P/E of 31.63, which means Array Technologies, Inc. is trading at a discount to the group.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 78, which puts it in the top 31% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Array Technologies, Inc. (ARRY) Gains As Market Dips: What You Should Know
Array Technologies, Inc. (ARRY - Free Report) closed the most recent trading day at $19.69, moving +0.05% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.16%. Meanwhile, the Dow lost 0.26%, and the Nasdaq, a tech-heavy index, added 1.58%.
Heading into today, shares of the company had lost 18.14% over the past month, lagging the Oils-Energy sector's loss of 4.75% and the S&P 500's gain of 0.84% in that time.
Array Technologies, Inc. will be looking to display strength as it nears its next earnings release. In that report, analysts expect Array Technologies, Inc. to post earnings of $0.11 per share. This would mark year-over-year growth of 283.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $332.4 million, up 51.17% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Array Technologies, Inc.These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.16% lower. Array Technologies, Inc. is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Array Technologies, Inc. is currently trading at a Forward P/E ratio of 21.24. For comparison, its industry has an average Forward P/E of 31.63, which means Array Technologies, Inc. is trading at a discount to the group.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 78, which puts it in the top 31% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.