Array Technologies, Inc. (ARRY) Stock Moves -0.85%: What You Should Know

Array Technologies, Inc. (ARRY) closed at $7.03 in the latest trading session, marking a -0.85% move from the prior day. The stock exceeded the S&P 500, which registered a loss of 1.46% for the day. Elsewhere, the Dow gained 0.65%, while the tech-heavy Nasdaq lost 3.07%.The company's stock has climbed by 17.58% in the past month, exceeding the Oils-Energy sector's loss of 3.28% and the S&P 500's gain of 1.08%.Investors will be eagerly watching for the performance of Array Technologies, Inc. in its upcoming earnings disclosure. The company is expected to report EPS of $0.18, down 14.29% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $266.83 million, indicating a 21.89% downward movement from the same quarter last year.Investors should also note any recent changes to analyst estimates for Array Technologies, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 1.14% lower. Array Technologies, Inc. is currently sporting 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 9.12 right now. For comparison, its industry has an average Forward P/E of 10.1, which means Array Technologies, Inc. is trading at a discount to the group.We can also see that ARRY currently has a PEG ratio of 0.77. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. ARRY's industry had an average PEG ratio of 0.72 as of yesterday's close.The Solar industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 67, placing it within the top 27% of over 250 industries.The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. 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.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant 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 ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks