Arkansas Best Corp. Downgraded by Zacks to “Neutral” (ABFS)
Arkansas Best Corp. (NASDAQ:ABFS) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research report issued on Friday, Analyst Ratings Net reports. They currently have a $37.10 target price on the stock. Zacks‘ price target indicates a potential upside of 4.95% from the stock’s previous close.
Shares of Arkansas Best Corp. (NASDAQ:ABFS) traded down 3.22% on Friday, hitting $34.21. The stock had a trading volume of 264,024 shares. Arkansas Best Corp. has a one year low of $9.50 and a one year high of $35.96. The stock’s 50-day moving average is $33.75 and its 200-day moving average is $27.44. The company’s market cap is $880.2 million.
Arkansas Best Corp. (NASDAQ:ABFS) last issued its quarterly earnings data on Monday, November 11th. The company reported $0.54 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.39 by $0.15. The company had revenue of $623.40 million for the quarter, compared to the consensus estimate of $605.40 million. During the same quarter in the prior year, the company posted $0.24 earnings per share. The company’s quarterly revenue was up 7.9% on a year-over-year basis. Analysts expect that Arkansas Best Corp. will post $0.47 EPS for the current fiscal year.
A number of other firms have also recently commented on ABFS. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Arkansas Best Corp. in a research note to investors on Monday, December 16th. They now have a $35.00 price target on the stock, up previously from $29.00. Separately, analysts at Bank of America Corp. reiterated a “buy” rating on shares of Arkansas Best Corp. in a research note to investors on Thursday, December 5th. They now have a $43.00 price target on the stock, up previously from $37.00. Finally, analysts at JPMorgan Chase & Co. upgraded shares of Arkansas Best Corp. from an “underweight” rating to a “neutral” rating in a research note to investors on Thursday, December 5th. They now have a $34.00 price target on the stock, up previously from $28.00. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $34.90.
Arkansas Best Corporation is a provider of freight transportation services and solutions. The Company operates in five segments: Freight Transportation, Premium Logistics and Expedited Freight Services, Truck Brokerage and Management, Emergency and Preventative Maintenance and Household Goods Moving Services.
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