ArcBest (NASDAQ:ARCB) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday, March 14th.
ARCB has been the topic of a number of other research reports. Citigroup raised their price target on ArcBest from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday, February 6th. Cowen reissued a “market perform” rating and set a $39.00 price target (up previously from $33.00) on shares of ArcBest in a report on Thursday, February 1st. Morgan Stanley reissued an “equal weight” rating and set a $32.00 price target (up previously from $23.00) on shares of ArcBest in a report on Wednesday, February 21st. Stifel Nicolaus reissued a “sell” rating and set a $35.00 price target on shares of ArcBest in a report on Thursday, January 25th. Finally, Seaport Global Securities reissued a “neutral” rating on shares of ArcBest in a report on Tuesday, January 16th. Nine research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $34.50.
Shares of ARCB stock traded down $1.80 during mid-day trading on Wednesday, hitting $31.95. 241,501 shares of the stock were exchanged, compared to its average volume of 262,443. The firm has a market cap of $819.26, a price-to-earnings ratio of 24.02 and a beta of 1.76. ArcBest has a 12-month low of $16.95 and a 12-month high of $39.70. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.30 and a current ratio of 1.30.
ArcBest (NASDAQ:ARCB) last issued its quarterly earnings data on Wednesday, January 31st. The transportation company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.07. ArcBest had a return on equity of 5.82% and a net margin of 2.11%. The company had revenue of $710.72 million for the quarter, compared to analyst estimates of $723.69 million. During the same quarter last year, the company posted $0.28 earnings per share. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. research analysts predict that ArcBest will post 2.3 EPS for the current year.
Large investors have recently made changes to their positions in the stock. Elkfork Partners LLC acquired a new stake in ArcBest in the fourth quarter valued at about $113,000. ETRADE Capital Management LLC acquired a new stake in ArcBest in the fourth quarter valued at about $210,000. PEAK6 Investments L.P. acquired a new stake in ArcBest in the fourth quarter valued at about $231,000. Stone Ridge Asset Management LLC acquired a new stake in ArcBest in the fourth quarter valued at about $243,000. Finally, Koch Industries Inc. acquired a new stake in ArcBest in the fourth quarter valued at about $276,000. Hedge funds and other institutional investors own 88.61% of the company’s stock.
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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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