Array Technologies, Inc. (ARRY) Stock Slides as Market Rises: Facts to Know Before You Trade

The latest trading session saw Array Technologies, Inc. (ARRY) ending at $5.69, denoting a -0.18% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily gain of 0.08%. Meanwhile, the Dow experienced a rise of 0.08%, and the technology-dominated Nasdaq saw an increase of 0.52%.Coming into today, shares of the company had lost 17.39% in the past month. In that same time, the Oils-Energy sector lost 1.36%, while the S&P 500 lost 7.33%.Analysts and investors alike will be keeping a close eye on the performance of Array Technologies, Inc. in its upcoming earnings disclosure. 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. Our most recent consensus estimate is calling for quarterly revenue of $262.86 million, up 71.36% from the year-ago period.Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.62 per share and revenue of $1.09 billion. These totals would mark changes of +3.33% and +19.17%, respectively, from last year.It's also important for investors to be aware of any recent modifications to analyst estimates for Array Technologies, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 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 past month, there's been a 22.25% fall in the Zacks Consensus EPS estimate. Array Technologies, Inc. is currently sporting a Zacks Rank of #3 (Hold).Digging into valuation, Array Technologies, Inc. currently has a Forward P/E ratio of 9.25. This valuation marks a discount compared to its industry's average Forward P/E of 10.67.Meanwhile, ARRY's PEG ratio is currently 1.17. 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. By the end of yesterday's trading, the Solar industry had an average PEG ratio of 0.54.The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 82, which puts it in the top 33% of all 250+ industries.The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.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 256 positions with double- and triple-digit gains in 2024 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 ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks