Stifel Nicolaus Downgrades ArcBest (ARCB) to Sell
ArcBest (NASDAQ:ARCB) was downgraded by stock analysts at Stifel Nicolaus from a “hold” rating to a “sell” rating in a report released on Wednesday, MarketBeat.com reports. They currently have a $32.00 price objective on the transportation company’s stock, up from their prior price objective of $27.00. Stifel Nicolaus’ price objective would suggest a potential downside of 9.48% from the company’s current price.
Several other analysts have also recently issued reports on ARCB. Buckingham Research initiated coverage on ArcBest in a report on Monday, August 21st. They set a “neutral” rating and a $29.00 price objective on the stock. ValuEngine raised ArcBest from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Morgan Stanley reaffirmed an “equal weight” rating and set a $22.00 price objective (up from $21.00) on shares of ArcBest in a report on Thursday, October 5th. Zacks Investment Research cut ArcBest from a “buy” rating to a “hold” rating in a report on Monday, October 9th. Finally, Cowen cut ArcBest from an “outperform” rating to a “market perform” rating in a report on Monday, October 16th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $31.43.
Shares of ArcBest (NASDAQ:ARCB) traded down $3.20 on Wednesday, hitting $35.35. The stock had a trading volume of 545,725 shares, compared to its average volume of 246,773. The stock has a market cap of $956.26, a PE ratio of 30.33 and a beta of 1.82. ArcBest has a twelve month low of $16.95 and a twelve month high of $38.75. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.33.
ArcBest (NASDAQ:ARCB) last issued its quarterly earnings data on Friday, November 3rd. The transportation company reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.01. The business had revenue of $744.30 million for the quarter, compared to analysts’ expectations of $750.16 million. ArcBest had a return on equity of 5.34% and a net margin of 0.88%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.48 EPS. analysts expect that ArcBest will post 1.29 earnings per share for the current year.
In related news, Director Steven Spinner sold 4,000 shares of the stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $32.00, for a total transaction of $128,000.00. Following the sale, the director now owns 24,700 shares in the company, valued at approximately $790,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Janice E. Stipp sold 3,700 shares of the stock in a transaction on Friday, December 8th. The shares were sold at an average price of $38.09, for a total value of $140,933.00. Following the sale, the director now owns 20,200 shares in the company, valued at approximately $769,418. The disclosure for this sale can be found here. Corporate insiders own 0.97% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in ARCB. Pacad Investment Ltd. raised its holdings in ArcBest by 34.1% during the 2nd quarter. Pacad Investment Ltd. now owns 5,900 shares of the transportation company’s stock valued at $122,000 after buying an additional 1,500 shares during the period. BNP Paribas Arbitrage SA increased its stake in ArcBest by 61.6% in the second quarter. BNP Paribas Arbitrage SA now owns 7,757 shares of the transportation company’s stock worth $160,000 after purchasing an additional 2,957 shares during the period. Louisiana State Employees Retirement System increased 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 during the period. Marshall Wace North America L.P. purchased a new stake in ArcBest in the second quarter worth $236,000. Finally, Arizona State Retirement System increased 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 during the period. Institutional investors own 89.57% of the company’s stock.
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ArcBest 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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