Price Action To Observe: What Will Happen to ArcBest Corp Next? The Stock Just Increased A Lot

Price Action To Observe: What Will Happen to ArcBest Corp Next? The Stock Just Increased A Lot

The stock of ArcBest Corp (NASDAQ:ARCB) is a huge mover today! The stock increased 3.94% or $1.15 on November 23, hitting $30.35. About 312,745 shares traded hands or 18.84% up from the average. ArcBest Corp (NASDAQ:ARCB) has risen 39.80% since April 22, 2016 and is uptrending. It has outperformed by 34.39% the S&P500.
The move comes after 9 months positive chart setup for the $793.96 million company. It was reported on Nov, 24 by Barchart.com. We have $31.26 PT which if reached, will make NASDAQ:ARCB worth $23.82 million more.

Analysts await ArcBest Corp (NASDAQ:ARCB) to report earnings on February, 1. They expect $0.28 earnings per share, up 33.33% or $0.07 from last year’s $0.21 per share. ARCB’s profit will be $7.32 million for 27.10 P/E if the $0.28 EPS becomes a reality. After $0.48 actual earnings per share 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 rating was upgraded by Stifel Nicolaus on Thursday, February 4 to “Buy”. Stifel Nicolaus downgraded the stock to “Hold” rating in Monday, May 2 report. The stock of ArcBest Corp (NASDAQ:ARCB) has “Neutral” rating given on Friday, September 11 by Bank of America. Stephens downgraded it to “Equal-Weight” rating and $23 target price in Thursday, January 7 report. On Friday, November 4 the stock rating was maintained by Cowen & Co with “Outperform”. Citigroup maintained the shares of ARCB in a report on Monday, July 11 with “Neutral” rating. The rating was downgraded by Bank of America to “Underperform” on Wednesday, December 2. The firm has “Underperform” rating by Bank of America given on Monday, February 22. The stock of ArcBest Corp (NASDAQ:ARCB) has “Hold” rating given on Tuesday, November 3 by Deutsche Bank. The firm earned “Hold” rating on Wednesday, August 5 by Deutsche Bank.

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 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 Prnewswire.com published the news titled: “ArcBest Corporation® to Implement New Corporate Structure to Better Serve …” on November 03, 2016. Prnewswire.com‘s news article titled: “ArcBest Corporation® Announces Fourth Quarter 2015 And Full Year 2015 Results” with publication date: February 03, 2016 was also an interesting one.

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.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Related posts

Leave a Comment