Array Technologies, Inc. (ARRY) Stock Moves -1.53%: What You Should Know

Array Technologies, Inc. (ARRY) closed the latest trading day at $6.43, indicating a -1.53% change from the previous session's end. This change was narrower than the S&P 500's 1.54% loss on the day. On the other hand, the Dow registered a loss of 1.63%, and the technology-centric Nasdaq decreased by 1.63%.Heading into today, shares of the company had gained 18.51% over the past month, outpacing the Oils-Energy sector's loss of 11.05% and the S&P 500's loss of 2.2% in that time.The upcoming earnings release of Array Technologies, Inc. will be of great interest to investors. On that day, Array Technologies, Inc. is projected to report earnings of $0.18 per share, which would represent a year-over-year decline of 14.29%. Simultaneously, our latest consensus estimate expects the revenue to be $266.83 million, showing a 21.89% drop compared to the year-ago quarter.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. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 0.51% lower. Currently, Array Technologies, Inc. is carrying a Zacks Rank of #3 (Hold).Investors should also note Array Technologies, Inc.'s current valuation metrics, including its Forward P/E ratio of 8.18. This valuation marks a discount compared to its industry's average Forward P/E of 11.84.Investors should also note that ARRY has a PEG ratio of 0.69 right now. 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. The average PEG ratio for the Solar industry stood at 0.69 at the close of the market yesterday.The Solar industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 142, placing it within the bottom 44% of over 250 industries.The Zacks Industry Rank is ordered 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.Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.See Stocks 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 ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks