Investors interested in Transportation stocks should always be looking to find the best-performing companies in the group. Is ArcBest (ARCB) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
ArcBest is a member of the Transportation sector. This group includes 114 individual stocks and currently holds a Zacks Sector Rank of #9. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. ArcBest is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ARCB's full-year earnings has moved 6.7% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, ARCB has gained about 72.8% so far this year. At the same time, Transportation stocks have gained an average of 5.7%. This means that ArcBest is performing better than its sector in terms of year-to-date returns.
Another Transportation stock, which has outperformed the sector so far this year, is Matson (MATX). The stock has returned 87.6% year-to-date.
Over the past three months, Matson's consensus EPS estimate for the current year has increased 13.1%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, ArcBest is a member of the Transportation - Truck industry, which includes 12 individual companies and currently sits at #81 in the Zacks Industry Rank. On average, stocks in this group have gained 19.3% this year, meaning that ARCB is performing better in terms of year-to-date returns.
In contrast, Matson falls under the Transportation - Services industry. Currently, this industry has 21 stocks and is ranked #182. Since the beginning of the year, the industry has moved -7.5%.
Investors interested in the Transportation sector may want to keep a close eye on ArcBest and Matson as they attempt to continue their solid performance.
Radical New Technology Could Hand Investors Huge Gains
Quantum Computing is the next technological revolution, and it could be even more advanced than AI.
While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.
Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power .
Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.
See Top Quantum 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
ArcBest Corporation (ARCB): Free Stock Analysis Report
Matson, Inc. (MATX): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).