ArcBest Corporation (NASDAQ:ARCB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “ArcBest Corporation provides freight transportation services and solutions. The company’s Freight Transportation segment offers transportation of general commodities; motor carrier freight transportation services; business-to-business air transportation services; ocean transport services; global customizable supply chain solutions and integrated warehousing services. Its Premium Logistics & Expedited Freight Services segment provides expedited freight transportation services to commercial and government customers; premium logistics services; and domestic and international freight transportation with air, ocean, and ground service. ArcBest Corporation, formerly known as Arkansas Best Corporation, is headquartered in Fort Smith, Arkansas. “

ARCB has been the subject of a number of other research reports. TheStreet raised ArcBest Corporation from a “c” rating to a “b-” rating in a research report on Friday, July 28th. Cowen and Company reissued a “buy” rating and issued a $29.00 price objective on shares of ArcBest Corporation in a research report on Sunday, July 30th. ValuEngine raised ArcBest Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Morgan Stanley reissued an “equal weight” rating and issued a $22.00 price objective (up previously from $21.00) on shares of ArcBest Corporation in a research report on Thursday, October 5th. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $29.00 price objective (up previously from $26.00) on shares of ArcBest Corporation in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating and nine have given a hold rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $28.83.

Shares of ArcBest Corporation (NASDAQ:ARCB) traded up 0.83% on Wednesday, reaching $30.25. The company’s stock had a trading volume of 240,780 shares. The firm has a market capitalization of $777.61 million, a PE ratio of 34.97 and a beta of 1.78. ArcBest Corporation has a one year low of $16.95 and a one year high of $34.25. The firm has a 50-day moving average price of $30.81 and a 200 day moving average price of $24.67.

ArcBest Corporation (NASDAQ:ARCB) last announced its earnings results on Friday, July 28th. The transportation company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.09. The business had revenue of $720.40 million for the quarter, compared to analysts’ expectations of $721.11 million. ArcBest Corporation had a return on equity of 4.92% and a net margin of 0.83%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.38 EPS. On average, analysts anticipate that ArcBest Corporation will post $1.30 earnings per share for the current fiscal year.

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In related news, COO James A. Ingram sold 6,918 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $27.14, for a total value of $187,754.52. Following the completion of the transaction, the chief operating officer now owns 43,500 shares in the company, valued at approximately $1,180,590. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel E. Loe sold 9,929 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $25.87, for a total value of $256,863.23. Following the completion of the transaction, the insider now owns 33,600 shares of the company’s stock, valued at approximately $869,232. The disclosure for this sale can be found here. Insiders sold a total of 24,210 shares of company stock valued at $665,376 in the last three months. Insiders own 0.97% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Arizona State Retirement System raised its stake in ArcBest Corporation by 0.8% in the 1st quarter. Arizona State Retirement System now owns 12,416 shares of the transportation company’s stock worth $323,000 after acquiring an additional 100 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in ArcBest Corporation by 1.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 9,800 shares of the transportation company’s stock worth $202,000 after acquiring an additional 100 shares during the last quarter. Texas Permanent School Fund raised its stake in ArcBest Corporation by 1.7% in the 2nd quarter. Texas Permanent School Fund now owns 17,543 shares of the transportation company’s stock worth $361,000 after acquiring an additional 299 shares during the last quarter. Rhumbline Advisers raised its stake in ArcBest Corporation by 0.6% in the 2nd quarter. Rhumbline Advisers now owns 51,568 shares of the transportation company’s stock worth $1,062,000 after acquiring an additional 309 shares during the last quarter. Finally, Mason Street Advisors LLC raised its stake in ArcBest Corporation by 7.0% in the 1st quarter. Mason Street Advisors LLC now owns 5,569 shares of the transportation company’s stock worth $145,000 after acquiring an additional 362 shares during the last quarter. Institutional investors own 84.92% of the company’s stock.

ArcBest Corporation Company Profile

ArcBest Corporation is a holding company of businesses providing integrated logistics solutions. The Company operates through three segments: Asset-Based, which consists of ABF Freight System, Inc and other subsidiaries; ArcBest, which represents the consolidation of the operations of the Premium Logistics, Transportation Management and Household Goods Moving Services segments, and FleetNet, which includes the results of operations of FleetNet America, Inc (FleetNet).

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Analyst Recommendations for ArcBest Corporation (NASDAQ:ARCB)

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