ArcBest (NASDAQ:ARCB) Upgraded at BidaskClub

ArcBest (NASDAQ:ARCB) was upgraded by investment analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued to investors on Thursday, BidAskClub reports.

ARCB has been the topic of a number of other reports. Loop Capital lifted their target price on ArcBest to $34.00 and gave the stock a “hold” rating in a report on Monday, May 6th. Bank of America reiterated an “underperform” rating and issued a $34.00 price target (down previously from $45.00) on shares of ArcBest in a research report on Tuesday, March 12th. Seaport Global Securities reiterated a “neutral” rating on shares of ArcBest in a research report on Friday, April 5th. Zacks Investment Research lowered ArcBest from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th. Finally, Buckingham Research decreased their price target on ArcBest from $37.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $40.89.

NASDAQ:ARCB opened at $26.84 on Thursday. The stock has a market cap of $688.77 million, a P/E ratio of 6.95 and a beta of 2.10. ArcBest has a 52-week low of $24.68 and a 52-week high of $51.45. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.39.

ArcBest (NASDAQ:ARCB) last released its earnings results on Thursday, May 2nd. The transportation company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.13). The firm had revenue of $711.84 million for the quarter, compared to analyst estimates of $724.33 million. ArcBest had a return on equity of 14.19% and a net margin of 2.00%. ArcBest’s revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.29 earnings per share. Sell-side analysts anticipate that ArcBest will post 3.37 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in ARCB. Arizona State Retirement System boosted its position in shares of ArcBest by 6.2% in the 4th quarter. Arizona State Retirement System now owns 39,562 shares of the transportation company’s stock valued at $1,355,000 after purchasing an additional 2,304 shares during the period. Xact Kapitalforvaltning AB boosted its position in shares of ArcBest by 45.8% in the 4th quarter. Xact Kapitalforvaltning AB now owns 7,000 shares of the transportation company’s stock valued at $240,000 after purchasing an additional 2,200 shares during the period. Rhumbline Advisers boosted its position in ArcBest by 20.8% during the 4th quarter. Rhumbline Advisers now owns 75,963 shares of the transportation company’s stock worth $2,602,000 after acquiring an additional 13,094 shares during the period. Hartford Investment Management Co. boosted its position in ArcBest by 19.9% during the 4th quarter. Hartford Investment Management Co. now owns 7,837 shares of the transportation company’s stock worth $268,000 after acquiring an additional 1,300 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its position in ArcBest by 6.3% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 19,373 shares of the transportation company’s stock worth $664,000 after acquiring an additional 1,152 shares during the period. Institutional investors and hedge funds own 99.08% of the company’s stock.

ArcBest Company Profile

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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Analyst Recommendations for ArcBest (NASDAQ:ARCB)

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