Buckingham Research Lowers ArcBest (ARCB) Price Target to $37.00

ArcBest (NASDAQ:ARCB) had its price target dropped by stock analysts at Buckingham Research from $46.00 to $37.00 in a research report issued to clients and investors on Thursday, April 11th, Stock Target Advisor reports. The firm presently has a “neutral” rating on the transportation company’s stock. Buckingham Research’s price target indicates a potential upside of 22.52% from the stock’s current price.

A number of other brokerages also recently commented on ARCB. BidaskClub raised ArcBest from a “hold” rating to a “buy” rating in a report on Friday, January 11th. Zacks Investment Research downgraded ArcBest from a “buy” rating to a “hold” rating in a report on Monday, February 4th. Loop Capital upped their price objective on ArcBest from $39.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, January 31st. Cowen restated a “hold” rating and set a $42.00 price objective on shares of ArcBest in a research note on Thursday, January 31st. Finally, SunTrust Banks initiated coverage on ArcBest in a research note on Wednesday, December 12th. They set a “buy” rating and a $47.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $41.67.

Shares of ArcBest stock traded down $0.29 during trading on Thursday, reaching $30.20. The company’s stock had a trading volume of 666,469 shares, compared to its average volume of 284,661. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44. ArcBest has a 12-month low of $28.34 and a 12-month high of $51.45. The company has a market cap of $771.25 million, a PE ratio of 7.82, a price-to-earnings-growth ratio of 2.91 and a beta of 2.08.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings results on Thursday, May 2nd. The transportation company reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.13). The business had revenue of $711.84 million during the quarter, compared to analysts’ expectations of $724.33 million. ArcBest had a net margin of 2.17% and a return on equity of 14.95%. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.29 earnings per share. On average, equities research analysts anticipate that ArcBest will post 3.68 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Quantamental Technologies LLC bought a new stake in shares of ArcBest during the 4th quarter worth $38,000. Pearl River Capital LLC bought a new stake in shares of ArcBest during the 1st quarter worth $68,000. PNC Financial Services Group Inc. boosted its stake in shares of ArcBest by 13.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,163 shares of the transportation company’s stock worth $107,000 after acquiring an additional 375 shares in the last quarter. Neuburgh Advisers LLC boosted its stake in shares of ArcBest by 15.1% during the 4th quarter. Neuburgh Advisers LLC now owns 3,520 shares of the transportation company’s stock worth $121,000 after acquiring an additional 462 shares in the last quarter. Finally, Sun Life Financial INC boosted its stake in shares of ArcBest by 596.2% during the 4th quarter. Sun Life Financial INC now owns 3,885 shares of the transportation company’s stock worth $133,000 after acquiring an additional 3,327 shares in the last quarter. 94.32% of the stock is owned by hedge funds and other institutional investors.

About ArcBest

ArcBest Corporation provides freight transportation services and integrated logistics solutions worldwide. It operates through three segments: Asset-Based, ArcBest, and FleetNet. The Asset-Based segment transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, nonbulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products through less-than-truckload services.

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