Array Technologies, Inc. (ARRY) Gains But Lags Market: What You Should Know

The most recent trading session ended with Array Technologies, Inc. (ARRY) standing at $4.33, reflecting a +0.93% shift from the previouse trading day's closing. This change lagged the S&P 500's 1.67% gain on the day. Elsewhere, the Dow gained 1.07%, while the tech-heavy Nasdaq added 2.5%.The company's stock has dropped by 23.8% in the past month, falling short of the Oils-Energy sector's loss of 10.69% and the S&P 500's loss of 6.57%.Analysts and investors alike will be keeping a close eye on the performance of Array Technologies, Inc. in its upcoming earnings disclosure. The company's earnings report is set to go public on May 6, 2025. The company is forecasted to report an EPS of $0.08, showcasing a 33.33% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $262.87 million, indicating a 71.36% growth compared to the corresponding quarter of the prior year.For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.61 per share and a revenue of $1.08 billion, signifying shifts of +1.67% and +18.47%, respectively, from the last year.Investors might also notice recent changes to analyst estimates for Array Technologies, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 1.65% lower. Array Technologies, Inc. is holding a Zacks Rank of #3 (Hold) right now.Investors should also note Array Technologies, Inc.'s current valuation metrics, including its Forward P/E ratio of 7.08. This indicates a discount in contrast to its industry's Forward P/E of 9.86.We can also see that ARRY currently has a PEG ratio of 0.33. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Solar industry held an average PEG ratio of 0.33.The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 164, which puts it in the bottom 34% of all 250+ industries.The Zacks Industry Rank gauges the strength of our individual 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 >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Array Technologies, Inc. (ARRY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks