ArcBest Corporation (ARCB) Can’t Burn Your Long Portfolio. Just Reaches 52-Week High

May 17, 2018 - By Gloria Calhoun

ArcBest Corporation (NASDAQ:ARCB) Logo

The stock of ArcBest Corporation (NASDAQ:ARCB) hit a new 52-week high and has $52.38 target or 7.00 % above today’s $48.95 share price. The 9 months bullish chart indicates low risk for the $1.26B company. The 1-year high was reported on May, 17 by Barchart.com. If the $52.38 price target is reached, the company will be worth $87.85 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.

The stock increased 1.87% or $0.9 during the last trading session, reaching $48.95. About 52,374 shares traded. ArcBest Corporation (NASDAQ:ARCB) has risen 23.82% since May 17, 2017 and is uptrending. It has outperformed by 12.27% the S&P500.

Analysts await ArcBest Corporation (NASDAQ:ARCB) to report earnings on July, 27. They expect $0.79 EPS, up 38.60 % or $0.22 from last year’s $0.57 per share. ARCB’s profit will be $20.25 million for 15.49 P/E if the $0.79 EPS becomes a reality. After $0.29 actual EPS reported by ArcBest Corporation for the previous quarter, Wall Street now forecasts 172.41 % EPS growth.

ArcBest Corporation (NASDAQ:ARCB) Ratings Coverage

Among 6 analysts covering ArcBest Corporation (NASDAQ:ARCB), 0 have Buy rating, 0 Sell and 6 Hold. Therefore 0 are positive. ArcBest Corporation has $40 highest and $32 lowest target. $36’s average target is -26.46% below currents $48.95 stock price. ArcBest Corporation had 10 analyst reports since November 20, 2017 according to SRatingsIntel. The firm earned “Hold” rating on Wednesday, January 17 by Seaport Global. Stifel Nicolaus maintained the shares of ARCB in report on Thursday, January 25 with “Sell” rating. The rating was maintained by Stephens with “Hold” on Thursday, April 12. Morgan Stanley maintained it with “Equal-Weight” rating and $32 target in Wednesday, February 21 report. Stifel Nicolaus upgraded the shares of ARCB in report on Tuesday, April 3 to “Hold” rating. The stock has “Sell” rating by Stifel Nicolaus on Wednesday, December 13. Stifel Nicolaus maintained ArcBest Corporation (NASDAQ:ARCB) rating on Thursday, January 18. Stifel Nicolaus has “Sell” rating and $35.0 target. The firm has “Hold” rating given on Tuesday, January 2 by Stephens. The firm has “Hold” rating given on Monday, November 20 by KeyBanc Capital Markets. The stock of ArcBest Corporation (NASDAQ:ARCB) earned “Neutral” rating by Citigroup on Tuesday, February 6.

More recent ArcBest Corporation (NASDAQ:ARCB) news were published by: Benzinga.com which released: “50 Biggest Movers From Friday” on May 14, 2018. Also Nasdaq.com published the news titled: “Analysis: Positioning to Benefit within Apogee Enterprises, ArcBest, Buckle, Career Education, Abercrombie & Fitch …” on May 17, 2018. Prnewswire.com‘s news article titled: “ArcBest Among Transport Topics’ Top Freight Brokerage Firms of 2018” with publication date: May 14, 2018 was also an interesting one.

ArcBest Corporation provides freight transportation services and integrated logistics solutions worldwide. The company has market cap of $1.26 billion. It operates through three divisions: Asset-Based, ArcBest, and FleetNet. It has a 21.75 P/E ratio. The Asset-Based segment transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, nonbulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products through less-than-truckload services.

ArcBest Corporation (NASDAQ:ARCB) Ratings Chart

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.