ArcBest (NASDAQ:ARCB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The firm presently has a $41.00 price objective on the transportation company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 10.81% from the stock’s previous close.

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. “

Other equities analysts also recently issued research reports about the company. BidaskClub upgraded ArcBest from a “hold” rating to a “buy” rating in a report on Saturday, December 2nd. Morgan Stanley reiterated an “equal weight” rating and issued a $22.00 target price (up previously from $21.00) on shares of ArcBest in a report on Thursday, October 5th. ValuEngine downgraded ArcBest from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Stifel Nicolaus reiterated a “hold” rating and issued a $28.00 target price on shares of ArcBest in a report on Thursday, September 21st. Finally, Cowen reiterated a “market perform” rating and issued a $33.00 target price (up previously from $29.00) on shares of ArcBest in a report on Monday, November 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $32.14.

ArcBest (NASDAQ:ARCB) traded down $0.05 during midday trading on Tuesday, reaching $37.00. The company’s stock had a trading volume of 221,300 shares, compared to its average volume of 423,111. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.33. The firm has a market cap of $952.41, a P/E ratio of 39.78 and a beta of 1.83. ArcBest has a 12-month low of $16.95 and a 12-month high of $38.75.

ArcBest (NASDAQ:ARCB) last issued its 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. The company had revenue of $744.30 million for the quarter, compared to the consensus estimate of $750.16 million. ArcBest had a return on equity of 5.34% and a net margin of 0.88%. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.48 EPS. research analysts forecast that ArcBest will post 1.29 earnings per share for the current fiscal year.

In related news, Director Janice E. Stipp sold 3,700 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $38.09, for a total value of $140,933.00. Following the completion of the sale, the director now owns 20,200 shares of the company’s stock, valued at approximately $769,418. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Steven Spinner sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $32.00, for a total value of $128,000.00. Following the completion of the sale, the director now directly owns 24,700 shares of the company’s stock, valued at approximately $790,400. The disclosure for this sale can be found here. In the last three months, insiders sold 13,853 shares of company stock valued at $499,794. 0.97% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in the business. Rhumbline Advisers boosted its position in ArcBest by 0.6% during 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 during the period. Thrivent Financial For Lutherans boosted its position in ArcBest by 6.4% during 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 during the period. New York State Common Retirement Fund boosted its position in ArcBest by 1.6% during the second quarter. New York State Common Retirement Fund now owns 58,088 shares of the transportation company’s stock worth $1,197,000 after purchasing an additional 897 shares during the period. Voya Investment Management LLC boosted its position in ArcBest by 4.7% during the second quarter. Voya Investment Management LLC now owns 33,561 shares of the transportation company’s stock worth $691,000 after purchasing an additional 1,503 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in ArcBest by 8.7% during the second quarter. The Manufacturers Life Insurance Company now owns 21,032 shares of the transportation company’s stock worth $434,000 after purchasing an additional 1,683 shares during the period. 89.53% of the stock is owned by hedge funds and other institutional investors.

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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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