Shares of ArcBest Corporation (NASDAQ:ARCB) have received a consensus recommendation of “Hold” from the eleven brokerages that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating and nine have given a hold rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $27.00.
A number of equities research analysts recently issued reports on ARCB shares. Zacks Investment Research raised ArcBest Corporation from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research note on Tuesday, October 10th. BidaskClub lowered ArcBest Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. ValuEngine raised ArcBest Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Morgan Stanley reaffirmed an “equal weight” rating and issued a $22.00 target price (up previously from $21.00) on shares of ArcBest Corporation in a research note on Thursday, October 5th. Finally, Cowen and Company reaffirmed a “buy” rating and issued a $29.00 target price on shares of ArcBest Corporation in a research note on Sunday, July 30th.
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In other ArcBest Corporation news, COO James A. Ingram sold 6,918 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $27.14, for a total transaction of $187,754.52. Following the transaction, the chief operating officer now owns 43,500 shares of the company’s stock, valued at approximately $1,180,590. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Daniel E. Loe sold 9,929 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $25.87, for a total value of $256,863.23. Following the transaction, the insider now directly owns 33,600 shares in the company, valued at approximately $869,232. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,210 shares of company stock worth $665,376. Corporate insiders own 0.97% of the company’s stock.
Several institutional investors have recently modified their holdings of ARCB. Pacad Investment Ltd. lifted its stake in shares of ArcBest Corporation by 34.1% during the 2nd quarter. Pacad Investment Ltd. now owns 5,900 shares of the transportation company’s stock worth $122,000 after purchasing an additional 1,500 shares during the period. Mason Street Advisors LLC increased its holdings in shares of ArcBest Corporation by 7.0% during the 1st quarter. Mason Street Advisors LLC now owns 5,569 shares of the transportation company’s stock worth $145,000 after buying an additional 362 shares during the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of ArcBest Corporation by 61.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,757 shares of the transportation company’s stock worth $160,000 after buying an additional 2,957 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in shares of ArcBest Corporation by 1.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 9,800 shares of the transportation company’s stock worth $202,000 after buying an additional 100 shares during the last quarter. Finally, Marshall Wace North America L.P. acquired a new stake in shares of ArcBest Corporation during the 2nd quarter worth $236,000. 84.92% of the stock is currently owned by institutional investors.
Shares of ArcBest Corporation (NASDAQ:ARCB) opened at 30.25 on Thursday. The company has a 50 day moving average price of $30.96 and a 200 day moving average price of $24.77. ArcBest Corporation has a 12-month low of $16.95 and a 12-month high of $34.25. The firm has a market cap of $777.61 million, a PE ratio of 34.97 and a beta of 1.78.
ArcBest Corporation (NASDAQ:ARCB) last posted its earnings results on Friday, July 28th. The transportation company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.09. ArcBest Corporation had a return on equity of 4.92% and a net margin of 0.83%. The firm had revenue of $720.40 million for the quarter, compared to analyst estimates of $721.11 million. During the same quarter in the prior year, the company earned $0.38 EPS. ArcBest Corporation’s revenue was up 6.5% on a year-over-year basis. On average, analysts forecast that ArcBest Corporation will post $1.30 earnings per share for the current fiscal year.
ArcBest Corporation Company Profile
ArcBest Corporation is a holding company of businesses providing integrated logistics solutions. The Company operates through three segments: Asset-Based, which consists of ABF Freight System, Inc and other subsidiaries; ArcBest, which represents the consolidation of the operations of the Premium Logistics, Transportation Management and Household Goods Moving Services segments, and FleetNet, which includes the results of operations of FleetNet America, Inc (FleetNet).
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