ArcBest (NASDAQ:ARCB)‘s stock had its “hold” rating reissued by analysts at Cowen in a report issued on Friday. They presently have a $49.00 price objective on the transportation company’s stock. Cowen’s target price points to a potential upside of 16.39% from the stock’s previous close.
A number of other analysts also recently commented on the stock. Bank of America downgraded shares of ArcBest from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $50.00 to $38.00 in a report on Tuesday. BidaskClub lowered shares of ArcBest from a “buy” rating to a “hold” rating in a report on Tuesday, October 23rd. Morgan Stanley set a $39.00 price objective on shares of ArcBest and gave the company a “hold” rating in a research report on Monday, October 22nd. Wolfe Research downgraded shares of ArcBest from a “peer perform” rating to an “underperform” rating in a research report on Friday, October 5th. Finally, ValuEngine downgraded shares of ArcBest from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $44.33.
Shares of NASDAQ ARCB traded up $5.20 during midday trading on Friday, reaching $42.10. The company’s stock had a trading volume of 44,115 shares, compared to its average volume of 326,449. 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 one year low of $29.40 and a one year high of $51.45. The company has a market capitalization of $919.75 million, a P/E ratio of 32.11, a PEG ratio of 0.27 and a beta of 2.10.
ArcBest (NASDAQ:ARCB) last released its earnings results on Thursday, November 1st. The transportation company reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.32. ArcBest had a net margin of 2.12% and a return on equity of 9.88%. The business had revenue of $826.20 million for the quarter, compared to the consensus estimate of $815.82 million. During the same period in the previous year, the firm earned $0.59 EPS. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, analysts anticipate that ArcBest will post 3.26 earnings per share for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Marshall Wace LLP purchased a new position in ArcBest during the second quarter valued at approximately $210,000. WINTON GROUP Ltd bought a new stake in ArcBest in the second quarter worth approximately $9,675,000. Meeder Asset Management Inc. grew its position in ArcBest by 184.3% in the second quarter. Meeder Asset Management Inc. now owns 3,997 shares of the transportation company’s stock worth $183,000 after acquiring an additional 2,591 shares in the last quarter. Millennium Management LLC grew its position in ArcBest by 182.9% in the second quarter. Millennium Management LLC now owns 321,094 shares of the transportation company’s stock worth $14,674,000 after acquiring an additional 207,604 shares in the last quarter. Finally, HighPoint Advisor Group LLC bought a new stake in ArcBest in the second quarter worth approximately $679,000. 94.69% 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.
See Also: Cash Flow
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.