ArcBest Corporation (ARCB) saw a big move last session, as the company’s shares fell by 7% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This reverses the recent trend for ARCB as the stock is now up around 6% since Feb 9.
This slump shouldn’t be too much of a surprise to investors, as the Transport –Truck Company has seen 5 negative revisions in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
ARCB currently has a Zacks Rank #3 (Hold).
A better-ranked stock in the transport –truck sector is Celadon Group Inc. (CGI), which currently carries a Zacks Rank #1 (Strong Buy).
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