ArcBest Corp. (NASDAQ:ARCB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.
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. “
A number of other brokerages also recently issued reports on ARCB. Citigroup Inc. boosted their price objective on shares of ArcBest Corp. from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, September 8th. Buckingham Research initiated coverage on shares of ArcBest Corp. in a research report on Friday, September 23rd. They set a “buy” rating and a $24.00 price objective on the stock. Finally, Deutsche Bank AG set a $20.00 price objective on shares of ArcBest Corp. and gave the company a “hold” rating in a research report on Thursday, July 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $22.07.
Shares of ArcBest Corp. (NASDAQ:ARCB) opened at 20.56 on Wednesday. The stock has a 50 day moving average of $18.87 and a 200 day moving average of $18.42. ArcBest Corp. has a one year low of $14.85 and a one year high of $28.80. The stock has a market cap of $529.40 million, a P/E ratio of 19.29 and a beta of 1.66.
ArcBest Corp. (NASDAQ:ARCB) last issued its quarterly earnings data on Friday, July 29th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.43 by $0.05. The company had revenue of $676.60 million for the quarter, compared to analysts’ expectations of $683.12 million. ArcBest Corp. had a net margin of 1.06% and a return on equity of 5.02%. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.75 earnings per share. On average, analysts forecast that ArcBest Corp. will post $0.90 EPS for the current year.
A number of institutional investors have recently made changes to their positions in ARCB. Arizona State Retirement System boosted its position in shares of ArcBest Corp. by 0.8% in the second quarter. Arizona State Retirement System now owns 12,516 shares of the company’s stock worth $203,000 after buying an additional 100 shares during the last quarter. Algert Global LLC boosted its position in shares of ArcBest Corp. by 0.8% in the second quarter. Algert Global LLC now owns 21,685 shares of the company’s stock worth $352,000 after buying an additional 166 shares during the last quarter. Pinnacle Holdings LLC boosted its position in shares of ArcBest Corp. by 1.1% in the first quarter. Pinnacle Holdings LLC now owns 30,442 shares of the company’s stock worth $657,000 after buying an additional 345 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in shares of ArcBest Corp. by 3.3% in the second quarter. Thrivent Financial for Lutherans now owns 11,520 shares of the company’s stock worth $187,000 after buying an additional 370 shares during the last quarter. Finally, I.G. Investment Management LTD. boosted its position in shares of ArcBest Corp. by 1.9% in the second quarter. I.G. Investment Management LTD. now owns 47,085 shares of the company’s stock worth $765,000 after buying an additional 862 shares during the last quarter. Institutional investors own 84.52% of the company’s stock.
ArcBest Corp. Company Profile
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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