Why ArcBest Corporation (NASDAQ:ARCB) Is In News?


Thomson Reuters, a distinguished brokerage company, has placed a 52-week price target of $19.88 on ArcBest Corporation (NASDAQ:ARCB) shares after it surveyed top market analysts. Calculating estimated earnings after taking into consideration different elements, it is predicted to come at $0.90 for the next fiscal and $N/A for underway quarter.

Valuation Estimates

Analysts take into account the price to earnings ratio to estimate the firm’s valuation. This ratio, which is also called as the P/E ratio evaluates the company on relative expense factor. The formula to calculate ratio is stock’s latest price/ per share earnings. The P/E ratio of ArcBest Corporation (NASDAQ:ARCB) stands at 18.09.

Analysts also work out Price/Earnings Growth ratio in an attempt to estimate the valuation of a firm. This ratio commonly known as the PEG ratio implies the stock’s valuation compared to earnings growth potential. Investors look to invest in the stocks with a lower PEG ratio. For ArcBest Corporation, the PEG ratio for coming 3-5 years is 2.38.

Technical Analysis

The technical analysis highlights that ArcBest Corporation current is trading $1.29 points away or +7.17% from its 50-day moving average of $17.99. Further it is trading $0.56 or +2.98% away its 200-day moving average of $18.72.

The 52-week high of ArcBest Corporation (NASDAQ:ARCB) was $30.33 while lowest point recorded in 52-week was $14.85. It implies if stock price makes a movement of over $-11.05, it will record a new 52-week high. In the case of +29.83% drop, it will touch a new 52-week low.

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