Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. ArcBest Corp shares valued at $1,253,160 were purchased by Newcity Michael E on Nov 06 ’24. At $120.00 per share, Newcity Michael E acquired 10,443 shares.
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Also, Abbate Salvatore A purchased 1,000 shares, netting a total of over 103,930 in proceeds. Following the buying of shares at $103.93 each, the insider now holds 3,650 shares.
Before that, Gattis Erin K had sold 2,000 shares from its account. In a trade valued at $283,164, the CHIEF HUMAN RESOURCES OFFICER traded ArcBest Corp shares for $141.58 each. Upon closing the transaction, the insider’s holdings decreased to 2,000 shares, worth approximately $3.9 million.
As published in a research note from TD Cowen on October 14, 2024, ArcBest Corp [ARCB] has been rated down from a Buy to a Hold and the price target has been revised to $114 from $131. Analysts at Citigroup started covering the stock with ‘”a Neutral”‘ outlook in a report released in early October. As of October 09, 2024, Wolfe Research has decreased its “an Outperform” rating to a “Peer perform” for ARCB. Earlier on September 05, 2024, TD Cowen resumed its rating. Their recommendation was “a Buy” for ARCB stock.
Analyzing ARCB Stock Performance
During the last five days, there has been a surge of approximately 13.05%. Over the course of the year, ArcBest Corp shares have jumped approximately 0.50%. Shares of the company reached a 52-week high of $153.60 on 04/08/24 and a 52-week low of $94.76 on 09/11/24. A 50-day SMA is recorded $104.77, while a 200-day SMA reached $118.20. Nevertheless, trading volume fell to 1.29 million shares from 0.22 million shares the previous day.
Support And Resistance Levels for ArcBest Corp (ARCB)
According to the 24-hour chart, there is a support level at 115.44, which, if violated, would cause prices to drop to 110.07. In the upper region, resistance lies at 124.72. The next price resistance is at 128.62. RSI (Relative Strength Index) is 69.50 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 4.21, which suggests the price will increase in the coming days. Percent R is at 9.80%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
