Live Price Coverage: Could ArcBest Corp Change Direction After Reaching 52-Week High?

Live Price Coverage: Could ArcBest Corp Change Direction After Reaching 52 Week High?

The stock of ArcBest Corp (NASDAQ:ARCB) hit a new 52-week high and has $32.76 target or 6.00% above today’s $30.91 share price. The 5 months bullish chart indicates low risk for the $795.98M company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $32.76 price target is reached, the company will be worth $47.76 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 142,418 shares traded hands. ArcBest Corp (NASDAQ:ARCB) has risen 46.18% since April 28, 2016 and is uptrending. It has outperformed by 40.26% 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 $7.21M for 27.60 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. Citigroup maintained the stock with “Neutral” rating in Monday, July 11 report. The stock of ArcBest Corp (NASDAQ:ARCB) earned “Underperform” rating by Bank of America on Wednesday, December 2. The firm has “Buy” rating given on Thursday, February 4 by Stifel Nicolaus. The rating was downgraded by Stifel Nicolaus to “Hold” on Monday, May 2. The stock has “Equal-Weight” rating given by Stephens on Thursday, January 7. On Wednesday, August 5 the stock rating was maintained by Deutsche Bank with “Hold”. On Thursday, February 4 the stock rating was maintained by Citigroup with “Neutral”. The rating was maintained by Bank of America with “Underperform” on Monday, February 22. The stock has “Hold” rating given by Deutsche Bank on Tuesday, November 3. As per Friday, November 4, the company rating was upgraded by Bank of America.

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 news for ArcBest Corp (NASDAQ:ARCB) were recently published by: Prnewswire.com, which released: “ArcBest Corporation® Board Director to Retire, Two New Members Added” on October 31, 2016. Prnewswire.com‘s article titled: “ArcBest Corporation® to Implement New Corporate Structure to Better Serve …” and published on November 03, 2016 is yet another important article.

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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