In the latest trading session, ArcBest (ARCB) closed at $85.34, marking a +0.34% move from the previous day. The stock lagged the S&P 500's daily gain of 0.37%.

Heading into today, shares of the freight transportation and logistics company had gained 10.14% over the past month, outpacing the Transportation sector's gain of 1.93% and the S&P 500's gain of 2.13% in that time.

Investors will be hoping for strength from ARCB as it approaches its next earnings release, which is expected to be November 2, 2021. On that day, ARCB is projected to report earnings of $2.47 per share, which would represent year-over-year growth of 102.46%. Meanwhile, our latest consensus estimate is calling for revenue of $1.01 billion, up 26.49% from the prior-year quarter.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.97 per share and revenue of $3.75 billion. These totals would mark changes of +115.79% and +27.69%, respectively, from last year.

Investors should also note any recent changes to analyst estimates for ARCB. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 10.33% higher within the past month. ARCB is currently sporting a Zacks Rank of #1 (Strong Buy).

Digging into valuation, ARCB currently has a Forward P/E ratio of 12.2. Its industry sports an average Forward P/E of 16.36, so we one might conclude that ARCB is trading at a discount comparatively.

It is also worth noting that ARCB currently has a PEG ratio of 0.41. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Transportation - Truck was holding an average PEG ratio of 1.09 at yesterday's closing price.

The Transportation - Truck industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 21, which puts it in the top 9% of all 250+ industries.

The Zacks Industry Rank includes is listed in order 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.

To follow ARCB in the coming trading sessions, be sure to utilize Zacks.com.

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