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. “
Several other research firms have also recently commented on ARCB. Citigroup Inc. raised their price target on ArcBest Corp. from $17.00 to $20.00 and gave the company a neutral rating in a report on Thursday, September 8th. Buckingham Research started coverage on ArcBest Corp. in a report on Friday, September 23rd. They issued a buy rating and a $24.00 price target for the company. Finally, Deutsche Bank AG set a $20.00 price target on ArcBest Corp. and gave the company a hold rating in a report on Thursday, July 21st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. ArcBest Corp. currently has an average rating of Hold and a consensus price target of $22.07.
ArcBest Corp. (NASDAQ:ARCB) opened at 19.01 on Wednesday. The firm has a 50-day moving average price of $18.48 and a 200-day moving average price of $18.51. ArcBest Corp. has a one year low of $14.85 and a one year high of $28.80. The firm has a market capitalization of $489.49 million, a P/E ratio of 17.83 and a beta of 1.78.
ArcBest Corp. (NASDAQ:ARCB) last announced its earnings results on Friday, July 29th. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.43 by $0.05. ArcBest Corp. had a net margin of 1.06% and a return on equity of 5.02%. The company earned $676.60 million during the quarter, compared to analysts’ expectations of $683.12 million. During the same quarter last year, the business posted $0.75 earnings per share. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. Equities analysts anticipate that ArcBest Corp. will post $0.90 earnings per share for the current year.
Institutional investors have recently modified their holdings of the company. BNP Paribas Arbitrage SA boosted its position in shares of ArcBest Corp. by 99.0% in the second quarter. BNP Paribas Arbitrage SA now owns 7,990 shares of the company’s stock valued at $130,000 after buying an additional 3,974 shares in the last quarter. Royal Bank of Canada increased its position in ArcBest Corp. by 33.8% in the first quarter. Royal Bank of Canada now owns 19,848 shares of the company’s stock valued at $429,000 after buying an additional 5,009 shares during the last quarter. Arizona State Retirement System increased its position in ArcBest Corp. by 4.2% in the first quarter. Arizona State Retirement System now owns 12,416 shares of the company’s stock valued at $268,000 after buying an additional 500 shares during the last quarter. Aristotle Capital Boston LLC increased its position in ArcBest Corp. by 2.2% in the first quarter. Aristotle Capital Boston LLC now owns 197,410 shares of the company’s stock valued at $4,262,000 after buying an additional 4,323 shares during the last quarter. Finally, Pinnacle Holdings LLC increased its position in ArcBest Corp. by 1.1% in the first quarter. Pinnacle Holdings LLC now owns 30,442 shares of the company’s stock valued at $657,000 after buying an additional 345 shares during the last quarter. 84.52% of the stock is owned by hedge funds and other institutional investors.
About ArcBest Corp.
ArcBest Corporation is a holding company of businesses providing freight transportation services and logistics solutions. The Company operates through five segments: Freight Transportation (ABF Freight) segment, Premium Logistics (Panther), Transportation Management (ABF Logistics), Emergency & Preventative Maintenance (FleetNet) and Household Goods Moving Services (ABF Moving).
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