The Transportation group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has ArcBest (ARCB) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
ArcBest is a member of our Transportation group, which includes 110 different companies and currently sits at #1 in the Zacks Sector Rank. 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. ArcBest is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for ARCB's full-year earnings has moved 39.3% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, ARCB has gained about 114.8% so far this year. In comparison, Transportation companies have returned an average of 18.2%. This means that ArcBest is performing better than its sector in terms of year-to-date returns.
Another stock in the Transportation sector, JB Hunt (JBHT), has outperformed the sector so far this year. The stock's year-to-date return is 50.4%.
In JB Hunt's case, the consensus EPS estimate for the current year increased 6.4% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, ArcBest is a member of the Transportation - Truck industry, which includes 12 individual companies and currently sits at #7 in the Zacks Industry Rank. This group has gained an average of 49.1% so far this year, so ARCB is performing better in this area. JB Hunt is also part of the same industry.
ArcBest and JB Hunt could continue their solid performance, so investors interested in Transportation stocks should continue to pay close attention to these stocks.
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ArcBest Corporation (ARCB): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).