ArcBest (NASDAQ:ARCB) had its target price increased by Morgan Stanley from $38.00 to $40.00 in a research note published on Tuesday morning. The brokerage currently has a hold rating on the transportation company’s stock.
ARCB has been the subject of several other reports. Loop Capital started coverage on ArcBest in a report on Monday, October 1st. They issued a hold rating and a $47.00 target price for the company. BidaskClub raised ArcBest from a hold rating to a buy rating in a report on Thursday, September 27th. Wolfe Research lowered ArcBest from a peer perform rating to an underperform rating in a report on Friday, October 5th. Cowen upped their target price on ArcBest from $41.00 to $46.00 and gave the company a market perform rating in a report on Thursday, August 2nd. Finally, Zacks Investment Research raised ArcBest from a hold rating to a strong-buy rating and set a $55.00 target price for the company in a report on Tuesday, June 19th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. ArcBest presently has a consensus rating of Hold and a consensus target price of $45.44.
ARCB stock opened at $39.73 on Tuesday. The company has a market capitalization of $1.25 billion, a PE ratio of 29.87, a price-to-earnings-growth ratio of 0.37 and a beta of 2.10. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.31 and a quick ratio of 1.31. ArcBest has a 12-month low of $29.40 and a 12-month high of $51.45.
ArcBest (NASDAQ:ARCB) last released its earnings results on Tuesday, July 31st. The transportation company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.13. The company had revenue of $793.35 million during the quarter, compared to analyst estimates of $786.86 million. ArcBest had a return on equity of 9.88% and a net margin of 2.12%. Analysts anticipate that ArcBest will post 3.24 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in ARCB. Globeflex Capital L P bought a new position in ArcBest during the second quarter valued at $133,000. Meeder Asset Management Inc. grew its holdings in ArcBest by 184.3% during the second quarter. Meeder Asset Management Inc. now owns 3,997 shares of the transportation company’s stock valued at $183,000 after purchasing an additional 2,591 shares during the period. Capital Fund Management S.A. bought a new position in ArcBest during the second quarter valued at $201,000. Marshall Wace LLP bought a new position in ArcBest during the second quarter valued at $210,000. Finally, Highbridge Capital Management LLC bought a new position in ArcBest during the first quarter valued at $217,000. 94.63% 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.
Recommended Story: Insider Trading – What You Need to Know
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.