ArcBest (NASDAQ:ARCB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday, Zacks.com reports.
According to Zacks, “ArcBest Corporation provides freight transportation services and solutions. The company’s Freight Transportation segment offers transportation of general commodities; motor carrier freight transportation services; business-to-business air transportation services; ocean transport services; global customizable supply chain solutions and integrated warehousing services. Its Premium Logistics & Expedited Freight Services segment provides expedited freight transportation services to commercial and government customers; premium logistics services; and domestic and international freight transportation with air, ocean, and ground service. ArcBest Corporation, formerly known as Arkansas Best Corporation, is headquartered in Fort Smith, Arkansas. “
ARCB has been the subject of a number of other research reports. SunTrust Banks set a $35.00 target price on ArcBest and gave the company a “buy” rating in a report on Wednesday, September 18th. TheStreet cut shares of ArcBest from a “b-” rating to a “c+” rating in a research note on Wednesday, December 11th. ValuEngine raised shares of ArcBest from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Finally, BidaskClub lowered shares of ArcBest from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $35.13.
Shares of ArcBest stock traded down $0.93 during trading hours on Monday, reaching $27.14. The company had a trading volume of 11,130 shares, compared to its average volume of 170,745. The firm has a market cap of $715.98 million, a PE ratio of 7.03 and a beta of 1.95. ArcBest has a one year low of $24.68 and a one year high of $41.87. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.41 and a quick ratio of 1.41. The business has a fifty day simple moving average of $28.83 and a 200 day simple moving average of $28.53.
ArcBest (NASDAQ:ARCB) last issued its quarterly earnings data on Thursday, October 31st. The transportation company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.15. ArcBest had a return on equity of 11.27% and a net margin of 2.00%. The business had revenue of $787.56 million for the quarter, compared to analysts’ expectations of $797.16 million. During the same quarter in the prior year, the firm posted $1.49 EPS. The firm’s quarterly revenue was down 4.7% on a year-over-year basis. On average, research analysts forecast that ArcBest will post 2.55 EPS for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in ARCB. Squarepoint Ops LLC bought a new stake in shares of ArcBest during the 3rd quarter valued at about $297,000. Public Employees Retirement System of Ohio increased its position in shares of ArcBest by 99.4% in the third quarter. Public Employees Retirement System of Ohio now owns 54,677 shares of the transportation company’s stock worth $1,665,000 after purchasing an additional 27,255 shares during the last quarter. California State Teachers Retirement System raised its stake in ArcBest by 1.2% in the third quarter. California State Teachers Retirement System now owns 39,688 shares of the transportation company’s stock valued at $1,208,000 after purchasing an additional 474 shares in the last quarter. First Trust Advisors LP raised its stake in ArcBest by 5.3% in the third quarter. First Trust Advisors LP now owns 83,077 shares of the transportation company’s stock valued at $2,530,000 after purchasing an additional 4,181 shares in the last quarter. Finally, Mackay Shields LLC purchased a new stake in ArcBest in the third quarter valued at approximately $2,320,000. Institutional investors and hedge funds own 91.57% of the company’s stock.
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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