ArcBest (ARCB) Upgraded to “Buy” at BidaskClub

ArcBest (NASDAQ:ARCB) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Other analysts have also recently issued reports about the company. ValuEngine upgraded ArcBest from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Buckingham Research began coverage on ArcBest in a research report on Monday, August 21st. They issued a “neutral” rating and a $29.00 price target on the stock. Zacks Investment Research cut ArcBest from a “buy” rating to a “hold” rating in a research report on Monday, October 9th. Stifel Nicolaus reiterated a “hold” rating and issued a $28.00 price target on shares of ArcBest in a research report on Thursday, September 21st. Finally, Deutsche Bank reiterated a “hold” rating and issued a $29.00 price target (up from $26.00) on shares of ArcBest in a research report on Wednesday, August 9th. Nine investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $30.86.

ArcBest (NASDAQ ARCB) traded down $0.95 on Friday, hitting $36.90. The stock had a trading volume of 200,954 shares, compared to its average volume of 224,121. ArcBest has a 1-year low of $16.95 and a 1-year high of $38.05. The company has a market capitalization of $946.00, a PE ratio of 30.77 and a beta of 1.78. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.33.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings results on Friday, November 3rd. The transportation company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.01. ArcBest had a return on equity of 5.34% and a net margin of 0.88%. The firm had revenue of $744.30 million for the quarter, compared to analysts’ expectations of $750.16 million. During the same period in the prior year, the business posted $0.48 earnings per share. The business’s revenue was up 4.3% compared to the same quarter last year. analysts anticipate that ArcBest will post 1.28 earnings per share for the current year.

In other ArcBest news, VP Michael R. Johns sold 6,593 shares of the business’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $29.98, for a total value of $197,658.14. Following the transaction, the vice president now owns 35,700 shares of the company’s stock, valued at $1,070,286. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Steven Spinner sold 4,000 shares of the business’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $32.00, for a total value of $128,000.00. Following the completion of the transaction, the director now directly owns 24,700 shares in the company, valued at approximately $790,400. The disclosure for this sale can be found here. In the last three months, insiders sold 11,363 shares of company stock worth $348,758. Insiders own 0.97% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Arizona State Retirement System boosted its stake in ArcBest by 0.8% in the second quarter. Arizona State Retirement System now owns 12,516 shares of the transportation company’s stock worth $258,000 after purchasing an additional 100 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in ArcBest by 1.0% in the second quarter. Louisiana State Employees Retirement System now owns 9,800 shares of the transportation company’s stock worth $202,000 after purchasing an additional 100 shares in the last quarter. Texas Permanent School Fund boosted its stake in ArcBest by 1.7% in the second quarter. Texas Permanent School Fund now owns 17,543 shares of the transportation company’s stock worth $361,000 after purchasing an additional 299 shares in the last quarter. Rhumbline Advisers boosted its stake in ArcBest by 0.6% in the second quarter. Rhumbline Advisers now owns 51,568 shares of the transportation company’s stock worth $1,062,000 after purchasing an additional 309 shares in the last quarter. Finally, Thrivent Financial For Lutherans boosted its stake in ArcBest by 6.4% in the second quarter. Thrivent Financial For Lutherans now owns 14,480 shares of the transportation company’s stock worth $298,000 after purchasing an additional 870 shares in the last quarter. 89.54% of the stock is currently owned by institutional investors.

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About ArcBest

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).

Analyst Recommendations for ArcBest (NASDAQ:ARCB)

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