Array Technologies, Inc. (ARRY) Stock Moves -2.79%: What You Should Know

Array Technologies, Inc. (ARRY) closed the most recent trading day at $6.97, moving -2.79% from the previous trading session. Elsewhere, the Dow saw an upswing of 1.14%, while the tech-heavy Nasdaq depreciated by 0.8%. The company's stock has dropped by 18.06% in the past month, falling short of the Oils-Energy sector's loss of 7.07% and the S&P 500's loss of 1.43%.Investors will be eagerly watching for the performance of Array Technologies, Inc. in its upcoming earnings disclosure. In that report, analysts expect Array Technologies, Inc. to post earnings of $0.1 per share. This would mark a year-over-year decline of 60%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $323.09 million, down 10.81% from the year-ago period. For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.72 per share and a revenue of $1.45 billion, signifying shifts of +7.46% and +12.72%, respectively, from the last year. Investors should also take note of any recent adjustments to analyst estimates for Array Technologies, Inc. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability. Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system. 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.49% higher. Array Technologies, Inc. presently features a Zacks Rank of #3 (Hold). Valuation is also important, so investors should note that Array Technologies, Inc. has a Forward P/E ratio of 9.98 right now. This denotes a discount relative to the industry average Forward P/E of 22.06. We can also see that ARRY currently has a PEG ratio of 0.88. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Solar industry stood at 0.97 at the close of the market yesterday. The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 88, which puts it in the top 36% 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 ARRY in the coming trading sessions, be sure to utilize Zacks.com. 7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.9% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>This article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks