ArcBest Corp’s recently made public that its CHIEF HUMAN RESOURCES OFFICER Gattis Erin K unloaded Company’s shares for reported $0.28 million on Mar 01 ’24. In the deal valued at $141.58 per share,2,000 shares were sold. As a result of this transaction, Gattis Erin K now holds 32,247 shares worth roughly $4.88 million.
Then, Stipp Janice E sold 3,390 shares, generating $415,004 in total proceeds. Upon selling the shares at $122.42, the Director now owns 17,710 shares.
Before that, Beasley John Matthew bought 1,000 shares. ArcBest Corp shares valued at $104,980 were divested by the CFO and Treasurer(1) at a price of $104.98 per share. As a result of the transaction, Beasley John Matthew now holds 5,392 shares, worth roughly $0.82 million.
JP Morgan initiated its ArcBest Corp [ARCB] rating to an Overweight in a research note published on March 11, 2024; the price target was $168. A number of analysts have revised their coverage, including TD Cowen’s analysts, who remained covering the stock and in early February has reiterated a ‘”an Outperform”‘ rating for it. Deutsche Bank began covering ARCB with “Buy” recommendation on January 29, 2024. UBS started covering the stock on September 18, 2023. It rated ARCB as “a Neutral”.
Price Performance Review of ARCB
On Tuesday, ArcBest Corp [NASDAQ:ARCB] saw its stock jump 0.11% to $151.30. Over the last five days, the stock has gained 8.00%. ArcBest Corp shares have risen nearly 25.86% since the year began. Nevertheless, the stocks have risen 68.88% over the past one year. While a 52-week high of $153.60 was reached on 04/08/24, a 52-week low of $82.18 was recorded on 01/17/24. SMA at 50 days reached $137.63, while 200 days put it at $115.83. A total of 0.45 million shares were traded, compared to the trading of 0.33 million shares in the previous session.
Levels Of Support And Resistance For ARCB Stock
The 24-hour chart illustrates a support level at 148.35, which if violated will result in even more drops to 145.40. On the upside, there is a resistance level at 152.88. A further resistance level may holdings at 154.46. The Relative Strength Index (RSI) on the 14-day chart is 67.00, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 9.19, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 8.29%. Stochastics %K at 94.22% indicates the stock is a selling.
How much short interest is there in ArcBest Corp?
A steep rise in short interest was recorded in ArcBest Corp stocks on Mar 28, 2024, growing by 0.12 million shares to a total of 1.42 million shares. Yahoo Finance data shows the prior-month short interest on Feb 29, 2024 was 1.3 million shares. There was a rise of 8.45%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 8.37% of the overall stock float, the days-to-cover ratio (short ratio) rose to 4.14.
