Traders flip bullish into the print. Put/call ratio hit 0.30 on April 24, the lowest in 52 weeks and two standard deviations below the 20-day mean.
Short interest stands at 5.3% of free float as of April 23. Shares short fell 3.2% over the past week to 1.18 million, with days to cover at 5.05. Cost to borrow sits at 0.43%, down 11% week-over-week. Utilization is 10.4%, well below the 52-week high of 18.3%. The short base has trimmed positions heading into the report.
The put/call ratio crashed to 0.30 on April 24. That's the lowest reading in a year and sits 2.0 standard deviations below the 20-day mean of 0.38. Traders rotated aggressively into calls over the past week. The move signals bullish positioning ahead of the April 28 report.
Coverage leans hold with 6 hold ratings. The mean price target is $104, roughly 15% below the current $122.50 close. Stifel's J. Bruce Chan raised his target to $116 from $94 on April 16, maintaining a Buy rating. Citigroup's Ariel Rosa lifted his target to $107 from $105 in March, also keeping a Buy. Earlier in the year, Jefferies' Stephanie Moore raised to $110 from $95, while Wells Fargo moved to $85 from $74 on an Equal-Weight. Most firms boosted targets post-Q4 but remain below the recent rally.
The stock trades at 21.6x earnings, up sharply from 18.5x a month ago as shares surged 29.5% over that stretch. P/B expanded to 2.02 from 1.62 in 30 days. EV/EBITDA sits at 9.0x. ARCB ranks in the 81st percentile on 30-day EPS momentum and the 86th percentile on 90-day EPS momentum. Dividend score is 89th percentile.
Insiders sold a net $727k over 90 days through May 2025, though that data is now stale. American Century added 490k shares in Q1, lifting its stake to 5.9%. Invesco added 772k shares, now holding 3.6%. BlackRock and Vanguard each added modestly to positions of 15.3% and 11.0% respectively.
The last confirmed earnings event was January 30, 2026. Prior events fell in early February and late January. The stock has rallied sharply into this print, up 29.5% over the past month.
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