Shares of ArcBest Corp (NASDAQ:ARCB) have earned a consensus recommendation of “Hold” from the thirteen brokerages that are currently covering the stock, Marketbeat.com reports. Ten analysts have rated the stock with a hold recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $37.11.
A number of research firms have recently weighed in on ARCB. BidaskClub cut ArcBest from a “buy” rating to a “hold” rating in a report on Friday, June 15th. ValuEngine raised ArcBest from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 12th. Zacks Investment Research raised ArcBest from a “hold” rating to a “strong-buy” rating and set a $55.00 price target on the stock in a report on Tuesday, June 19th. Cowen reaffirmed a “market perform” rating and set a $41.00 price target (up previously from $39.00) on shares of ArcBest in a report on Friday, May 11th. Finally, Stephens reaffirmed a “hold” rating and set a $37.00 price target on shares of ArcBest in a report on Thursday, April 12th.
NASDAQ ARCB traded down $0.60 during trading hours on Tuesday, reaching $45.70. The company’s stock had a trading volume of 274,812 shares, compared to its average volume of 317,164. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.30. ArcBest has a 52 week low of $20.00 and a 52 week high of $50.45. The stock has a market capitalization of $1.17 billion, a P/E ratio of 24.44, a P/E/G ratio of 0.44 and a beta of 1.70.
ArcBest (NASDAQ:ARCB) last released its quarterly earnings results on Thursday, May 10th. The transportation company reported $0.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.36. The company had revenue of $700.00 million for the quarter, compared to analysts’ expectations of $689.24 million. ArcBest had a return on equity of 7.79% and a net margin of 2.68%. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.22) earnings per share. equities research analysts expect that ArcBest will post 2.93 earnings per share for the current year.
In related news, SVP Michael E. Newcity sold 5,589 shares of the business’s stock in a transaction that occurred on Tuesday, May 15th. The stock was sold at an average price of $47.00, for a total transaction of $262,683.00. Following the sale, the senior vice president now owns 40,000 shares of the company’s stock, valued at $1,880,000. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William Legg sold 9,947 shares of the business’s stock in a transaction that occurred on Thursday, May 24th. The stock was sold at an average price of $47.06, for a total value of $468,105.82. Following the sale, the director now directly owns 26,200 shares in the company, valued at approximately $1,232,972. The disclosure for this sale can be found here. 0.97% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the stock. Elkfork Partners LLC bought a new stake in ArcBest during the fourth quarter worth approximately $113,000. C M Bidwell & Associates Ltd. acquired a new position in ArcBest in the first quarter worth approximately $106,000. ETRADE Capital Management LLC acquired a new position in ArcBest in the fourth quarter worth approximately $210,000. PEAK6 Investments L.P. acquired a new position in ArcBest in the fourth quarter worth approximately $231,000. Finally, Highbridge Capital Management LLC acquired a new position in ArcBest in the first quarter worth approximately $217,000. 90.19% of the stock is currently owned by hedge funds and other institutional investors.
ArcBest Corporation provides freight transportation services and integrated logistics solutions worldwide. It operates through three segments: Asset-Based, ArcBest, and FleetNet. The Asset-Based segment transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, nonbulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products through less-than-truckload services.
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