Price Action Don’t Lie: ArcBest Corp Stock Price Hits 52-Week High Today

Price Action Don't Lie: ArcBest Corp Stock Price Hits 52 Week High Today

The stock of ArcBest Corp (NASDAQ:ARCB) hit a new 52-week high and has $31.51 target or 4.00% above today’s $30.30 share price. The 5 months bullish chart indicates low risk for the $792.65 million company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $31.51 price target is reached, the company will be worth $31.71 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 67,161 shares traded hands. ArcBest Corp (NASDAQ:ARCB) has risen 37.41% since April 21, 2016 and is uptrending. It has outperformed by 32.08% the S&P500.

Analysts await ArcBest Corp (NASDAQ:ARCB) to report earnings on February, 1. They expect $0.28 EPS, up 33.33% or $0.07 from last year’s $0.21 per share. ARCB’s profit will be $7.32M for 27.05 P/E if the $0.28 EPS becomes a reality. After $0.48 actual EPS reported by ArcBest Corp for the previous quarter, Wall Street now forecasts -41.67% negative EPS growth.

ArcBest Corp (NASDAQ:ARCB) Ratings Coverage

Out of 7 analysts covering Arcbest Corporation (NASDAQ:ARCB), 2 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 29% are positive. Arcbest Corporation has been the topic of 20 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The firm has “Equal-Weight” rating by Stephens given on Thursday, January 7. As per Wednesday, August 5, the company rating was maintained by Deutsche Bank. Bank of America upgraded ArcBest Corp (NASDAQ:ARCB) rating on Friday, September 11. Bank of America has “Neutral” rating and $35 price target. Stifel Nicolaus downgraded ArcBest Corp (NASDAQ:ARCB) on Monday, May 2 to “Hold” rating. Bank of America downgraded the shares of ARCB in a report on Wednesday, December 2 to “Underperform” rating. The rating was maintained by Bank of America on Monday, February 22 with “Underperform”. The firm has “Neutral” rating by Bank of America given on Friday, November 4. Citigroup maintained ArcBest Corp (NASDAQ:ARCB) rating on Monday, July 11. Citigroup has “Neutral” rating and $17 price target. Stifel Nicolaus upgraded ArcBest Corp (NASDAQ:ARCB) on Thursday, February 4 to “Buy” rating. Citigroup maintained the stock with “Neutral” rating in Thursday, February 4 report.

According to Zacks Investment Research, “ArcBest Corporation provides freight transportation services and solutions. The company’s Freight Transportation segment offers transportation of general commodities; motor carrier freight transportation services; business-to-business air transportation services; ocean transport services; global customizable supply chain solutions and integrated warehousing services. Its Premium Logistics & Expedited Freight Services segment provides expedited freight transportation services to commercial and government customers; premium logistics services; and domestic and international freight transportation with air, ocean, and ground service. ArcBest Corporation, formerly known as Arkansas Best Corporation, is headquartered in Fort Smith, Arkansas.”

More notable recent ArcBest Corp (NASDAQ:ARCB) news were published by: Prnewswire.com which released: “ArcBest Corporation® Board Director to Retire, Two New Members Added” on October 31, 2016, also Marketwatch.com with their article: “ArcBest started at hold with $21 stock price target at Deutsche Bank” published on May 02, 2014, Quotes.Wsj.com published: “News ArcBest Corp.ARCB” on May 03, 2014. More interesting news about ArcBest Corp (NASDAQ:ARCB) were released by: Prnewswire.com and their article: “ArcBest Corporation® to Implement New Corporate Structure to Better Serve …” published on November 03, 2016 as well as Prnewswire.com‘s news article titled: “ArcBest Corporation to Appear at the Stephens 2016 Fall Investment Conference” with publication date: November 02, 2016.

ARCB Company Profile

ArcBest Corporation, incorporated on August 23, 1988, is a holding firm of businesses providing freight transportation services and logistics solutions. The Firm operates through five divisions: Freight Transportation (ABF Freight) segment, Premium Logistics (Panther), Transportation Management (ABF Logistics), Emergency & Preventative Maintenance (FleetNet) and Household Goods Moving Services (ABF Moving). The Company’s principal activities are conducted through ABF Freight segment, which consists of ABF Freight System, Inc. and certain other subsidiaries, including ABF Freight System (B.C.), Ltd., ABF Freight System Canada, Ltd., ABF Cartage, Inc. and Land-Marine Cargo, Inc.

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