ArcBest (NASDAQ:ARCB)‘s stock had its “equal weight” rating reissued by investment analysts at Morgan Stanley in a report released on Wednesday. They presently have a $32.00 price objective on the transportation company’s stock, up from their previous price objective of $23.00. Morgan Stanley’s price objective would indicate a potential downside of 1.99% from the stock’s current price.
Several other analysts also recently commented on ARCB. Citigroup raised their price objective on shares of ArcBest from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 6th. Cowen reaffirmed a “market perform” rating and set a $33.00 price objective (up previously from $29.00) on shares of ArcBest in a research report on Monday, November 6th. ValuEngine downgraded shares of ArcBest from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. Seaport Global Securities reaffirmed a “neutral” rating on shares of ArcBest in a research report on Tuesday, January 16th. Finally, Buckingham Research lifted their price target on shares of ArcBest from $29.00 to $33.00 and gave the company a “neutral” rating in a research report on Monday, November 6th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $35.88.
Shares of ArcBest (NASDAQ:ARCB) traded up $0.45 during mid-day trading on Wednesday, hitting $32.65. 401,900 shares of the stock traded hands, compared to its average volume of 355,952. The firm has a market cap of $825.51, a P/E ratio of 23.68 and a beta of 1.71. ArcBest has a one year low of $16.95 and a one year high of $39.70. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 0.32.
ArcBest (NASDAQ:ARCB) last announced its quarterly earnings data on Wednesday, January 31st. The transportation company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.35 by $0.07. The company had revenue of $710.72 million during the quarter, compared to the consensus estimate of $723.69 million. ArcBest had a net margin of 2.11% and a return on equity of 5.82%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.28 EPS. equities analysts expect that ArcBest will post 2.23 EPS for the current year.
In other news, Director Janice E. Stipp sold 3,700 shares of ArcBest stock in a transaction on Friday, December 8th. The stock was sold at an average price of $38.09, for a total transaction of $140,933.00. Following the sale, the director now directly owns 20,200 shares in the company, valued at approximately $769,418. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William Legg sold 6,153 shares of ArcBest stock in a transaction on Monday, December 11th. The stock was sold at an average price of $37.52, for a total value of $230,860.56. Following the sale, the director now owns 36,147 shares in the company, valued at $1,356,235.44. The disclosure for this sale can be found here. 0.97% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in ARCB. ETRADE Capital Management LLC bought a new stake in ArcBest in the fourth quarter valued at approximately $210,000. PEAK6 Investments L.P. bought a new stake in ArcBest in the fourth quarter valued at approximately $231,000. Stone Ridge Asset Management LLC bought a new stake in ArcBest in the fourth quarter valued at approximately $243,000. Koch Industries Inc. bought a new stake in ArcBest in the fourth quarter valued at approximately $276,000. Finally, Teacher Retirement System of Texas bought a new position in shares of ArcBest during the fourth quarter valued at approximately $294,000. 87.16% of the stock is owned by institutional investors.
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ArcBest 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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