ArcBest (NASDAQ:ARCB) had its price objective upped by Citigroup from $24.00 to $28.00 in a research note released on Wednesday, BenzingaRatingsTable reports. The firm currently has a neutral rating on the transportation company’s stock.
Several other research firms also recently commented on ARCB. BidaskClub raised ArcBest from a sell rating to a hold rating in a research report on Saturday, June 6th. Cowen upped their price objective on ArcBest from $25.00 to $28.00 and gave the company an outperform rating in a report on Wednesday, June 17th. Morgan Stanley increased their price objective on ArcBest from $22.00 to $23.00 and gave the stock an equal weight rating in a research report on Monday, July 6th. Wolfe Research raised shares of ArcBest from a peer perform rating to an outperform rating in a research report on Tuesday. Finally, ValuEngine raised shares of ArcBest from a sell rating to a hold rating in a research report on Thursday, June 11th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $28.33.
NASDAQ:ARCB opened at $26.68 on Wednesday. ArcBest has a one year low of $13.54 and a one year high of $32.46. The company has a market cap of $674.00 million, a P/E ratio of 9.30, a P/E/G ratio of 3.21 and a beta of 1.60. The firm’s fifty day moving average price is $24.12 and its two-hundred day moving average price is $22.73. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.06 and a quick ratio of 2.06.
ArcBest (NASDAQ:ARCB) last posted its earnings results on Tuesday, May 5th. The transportation company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.47. ArcBest had a net margin of 1.24% and a return on equity of 10.01%. The company had revenue of $701.40 million during the quarter, compared to analysts’ expectations of $706.77 million. As a group, equities research analysts expect that ArcBest will post 0.94 earnings per share for the current year.
A number of hedge funds have recently bought and sold shares of ARCB. First Trust Advisors LP lifted its position in ArcBest by 37.0% during the first quarter. First Trust Advisors LP now owns 62,479 shares of the transportation company’s stock worth $1,924,000 after purchasing an additional 16,860 shares during the period. Victory Capital Management Inc. increased its holdings in ArcBest by 80.3% in the 4th quarter. Victory Capital Management Inc. now owns 22,357 shares of the transportation company’s stock valued at $617,000 after buying an additional 9,958 shares during the period. Great West Life Assurance Co. Can acquired a new position in shares of ArcBest in the 4th quarter valued at approximately $880,000. Citigroup Inc. lifted its holdings in shares of ArcBest by 95.2% during the 4th quarter. Citigroup Inc. now owns 38,906 shares of the transportation company’s stock worth $1,074,000 after acquiring an additional 18,975 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of ArcBest by 255.4% during the 4th quarter. Renaissance Technologies LLC now owns 277,339 shares of the transportation company’s stock worth $7,655,000 after acquiring an additional 199,304 shares in the last quarter. 88.53% of the stock is owned by institutional investors and hedge funds.
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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