Today’s Featured Stock
Valued at $3.45 billion, ArcBest (ARCB) provides freight transportation services and solutions.
What I’m Watching
I found today’s Chart of the Day by using Barchart’s powerful screening functions to sort for stocks with the highest technical buy signals; superior current momentum in both strength and direction; and a Trend Seeker “buy” signal. I then used Barchart’s Flipcharts feature to review the charts for consistent price appreciation. ARCB checks those boxes. The Trend Seeker issued a new “Buy” signal on May 15. Since then, the stock has gained 33.61%.
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www.barchart.comBarchart’s Technical Indicators for ArcBest
Editor’s Note: The technical indicators below are updated live during the session every 20 minutes and can therefore change each day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report. These technical indicators form the Barchart Opinion on a particular stock.
ArcBest scored an all-time high of $164.95 on June 8.
ArcBest has a Weighted Alpha of +168.85. ARCB has a 100% “Buy” opinion from Barchart. The stock has gained 156.28% over the past 52 weeks. ArcBest has its Trend Seeker “Buy” signal intact. The stock recently traded at $163.98 with a 50-day moving average of $120.65. ARCB has made 15 new highs and gained 34.95% over the past month. Relative Strength Index (RSI) is at 85.16. There’s a technical support level around $151.49.Don’t Forget the Fundamentals
$3.45 billion market capitalization. 41.74x trailing price-earnings ratio. 0.3% dividend yield. Analysts project revenue to grow 9% this year and another 6.36% next year. Earnings are estimated to increase 41.76% this year and an additional 53.14% next year.Analyst and Investor Sentiment on ArcBest
The Wall Street analysts followed by Barchart give the stock 7 “Strong Buy” and 7 “Hold” opinions with price targets between $98 and $150. Value Line rates the stock “Highest” with price targets between $145 and $215. CFRA’s MarketScope rates the stock a “Hold.” Morningstar thinks the stock is 20% overvalued with a price target of $128.75. 6,080 investors are following the stock on Seeking Alpha, which rates it a “Strong Buy.” Short interest is 4.94% of the float with 3.04 days to cover the float.The Bottom Line on ArcBest
Although Morningstar thinks the stock is overvalued, Seeking Alpha notes: “Earnings revisions are highly positive: Over the past three months, there have been 11 upward revisions for EPS and 10 for revenue, with no downward revisions, showcasing analysts’ optimistic outlook for ARCB’s financial performance.” It looks like ArcBest is the needle in the haystack we need today.
Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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