ArcBest (ARCB) Rating Lowered to Hold at BidaskClub

ArcBest (NASDAQ:ARCB) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

Several other equities research analysts have also weighed in on the company. Buckingham Research lifted their price objective on ArcBest from $43.00 to $48.00 and gave the stock a “neutral” rating in a report on Thursday, August 9th. Stifel Nicolaus reissued a “hold” rating and issued a $46.00 price objective on shares of ArcBest in a report on Friday, August 3rd. Cowen lifted their price objective on ArcBest from $41.00 to $46.00 and gave the stock a “market perform” rating in a report on Thursday, August 2nd. Bank of America lifted their price objective on ArcBest from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Wednesday, August 1st. Finally, ValuEngine lowered ArcBest from a “strong-buy” rating to a “buy” rating in a report on Monday, July 2nd. Nine analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $44.25.

Shares of ARCB opened at $46.15 on Tuesday. ArcBest has a fifty-two week low of $28.50 and a fifty-two week high of $51.45. The stock has a market capitalization of $1.30 billion, a P/E ratio of 34.70, a PEG ratio of 0.39 and a beta of 2.09. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.30.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings data on Tuesday, July 31st. The transportation company reported $1.12 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.13. ArcBest had a return on equity of 9.88% and a net margin of 2.12%. The company had revenue of $793.35 million during the quarter, compared to analyst estimates of $786.86 million. sell-side analysts expect that ArcBest will post 3.24 earnings per share for the current year.

A number of hedge funds have recently bought and sold shares of ARCB. Wells Fargo & Company MN grew its holdings in ArcBest by 214.1% during the 1st quarter. Wells Fargo & Company MN now owns 144,495 shares of the transportation company’s stock valued at $4,631,000 after buying an additional 98,496 shares in the last quarter. Prudential Financial Inc. grew its holdings in ArcBest by 24.3% during the 1st quarter. Prudential Financial Inc. now owns 75,546 shares of the transportation company’s stock valued at $2,421,000 after buying an additional 14,750 shares in the last quarter. Swiss National Bank grew its holdings in ArcBest by 5.7% during the 1st quarter. Swiss National Bank now owns 42,500 shares of the transportation company’s stock valued at $1,362,000 after buying an additional 2,300 shares in the last quarter. LSV Asset Management grew its holdings in ArcBest by 62.5% during the 1st quarter. LSV Asset Management now owns 117,000 shares of the transportation company’s stock valued at $3,749,000 after buying an additional 45,000 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in shares of ArcBest by 8.6% during the first quarter. Schwab Charles Investment Management Inc. now owns 350,854 shares of the transportation company’s stock worth $11,245,000 after purchasing an additional 27,786 shares in the last quarter. 94.66% of the stock is owned by institutional investors and hedge funds.

ArcBest Company Profile

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.

Featured Article: What is the Book Value of a Share?

Analyst Recommendations for ArcBest (NASDAQ:ARCB)

Receive News & Ratings for ArcBest Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ArcBest and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply