ArcBest (NASDAQ:ARCB) had its price objective lowered by Loop Capital from $47.00 to $46.00 in a research report issued to clients and investors on Monday, The Fly reports. Loop Capital’s price objective points to a potential upside of 11.87% from the stock’s previous close.
A number of other equities analysts also recently commented on ARCB. Bank of America increased 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. BidaskClub upgraded ArcBest from a “hold” rating to a “buy” rating in a report on Thursday, August 2nd. Cowen increased 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. Stifel Nicolaus restated a “hold” rating and issued a $46.00 price objective on shares of ArcBest in a report on Friday, August 3rd. Finally, Buckingham Research increased 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. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $44.33.
NASDAQ ARCB opened at $41.12 on Monday. The company has a quick ratio of 1.31, a current ratio of 1.39 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $1.07 billion, a PE ratio of 30.92, a P/E/G ratio of 0.32 and a beta of 2.26. ArcBest has a 52-week low of $29.40 and a 52-week high of $51.45.
ArcBest (NASDAQ:ARCB) last released its quarterly earnings data 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 return on equity of 12.98% and a net margin of 2.92%. The firm had revenue of $826.20 million for the quarter, compared to the consensus estimate of $815.82 million. During the same quarter in the prior year, the company posted $0.59 earnings per share. The firm’s revenue was up 11.0% on a year-over-year basis. Sell-side analysts predict that ArcBest will post 3.26 EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in ARCB. WINTON GROUP Ltd acquired a new position in ArcBest during the second quarter valued at approximately $9,675,000. Millennium Management LLC grew its stake in shares of 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 during the last quarter. BlackRock Inc. grew its stake in shares of ArcBest by 6.2% in the second quarter. BlackRock Inc. now owns 3,555,928 shares of the transportation company’s stock worth $162,507,000 after acquiring an additional 206,629 shares during the last quarter. Chicago Equity Partners LLC grew its stake in shares of ArcBest by 200.9% in the second quarter. Chicago Equity Partners LLC now owns 217,510 shares of the transportation company’s stock worth $9,940,000 after acquiring an additional 145,230 shares during the last quarter. Finally, LSV Asset Management grew its stake in shares of ArcBest by 123.3% in the second quarter. LSV Asset Management now owns 261,300 shares of the transportation company’s stock worth $11,941,000 after acquiring an additional 144,300 shares during the last quarter. Institutional investors own 94.16% of the company’s stock.
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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