Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. ArcBest Corp shares valued at $428,649 were sold by Philip Craig E on Nov 22 ’24. At $109.91 per share, Philip Craig E sold 3,900 shares. The insider’s holdings dropped to 23,250 shares worth approximately $2.64 million following the completion of this transaction.
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Also, Philip Craig E purchased 3,900 shares, netting a total of over 428,668 in proceeds.
Before that, Newcity Michael E had sold 10,443 shares from its account. In a trade valued at $1,259,410, the SVP – Chf Innovation Officr(1) traded ArcBest Corp shares for $120.60 each. Upon closing the transaction, the insider’s holdings decreased to 10,443 shares, worth approximately $0.57 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 6.31%. Over the course of the year, ArcBest Corp shares have dropped approximately -5.58%. 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 $107.43, while a 200-day SMA reached $116.87. Nevertheless, trading volume fell to 0.18 million shares from 0.27 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 111.90, which, if violated, would cause prices to drop to 110.31. In the upper region, resistance lies at 114.86. The next price resistance is at 116.23. RSI (Relative Strength Index) is 56.34 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.99, which suggests the price will decrease in the coming days. Percent R is at 49.62%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
