ArcBest (ARCB) Rating Increased to Strong-Buy at Zacks Investment Research

ArcBest (NASDAQ:ARCB) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday. The brokerage presently has a $44.00 price target on the transportation company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 12.97% 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. “

Several other equities research analysts also recently weighed in on the company. Seaport Global Securities reissued a “neutral” rating on shares of ArcBest in a report on Tuesday, January 16th. BidaskClub downgraded ArcBest from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. Stifel Nicolaus downgraded ArcBest from a “hold” rating to a “sell” rating and raised their price target for the stock from $27.00 to $32.00 in a report on Wednesday, December 13th. ValuEngine downgraded ArcBest from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Finally, Bank of America raised their price target on ArcBest from $34.00 to $35.00 and gave the stock a “neutral” rating in a report on Monday, November 6th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $32.57.

Shares of ArcBest (NASDAQ:ARCB) traded up $1.10 during midday trading on Monday, reaching $38.95. The company’s stock had a trading volume of 405,371 shares, compared to its average volume of 369,791. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.26 and a current ratio of 1.26. The firm has a market capitalization of $1,010.00, a P/E ratio of 41.88 and a beta of 1.83. ArcBest has a fifty-two week low of $16.95 and a fifty-two week high of $39.70.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings results on Friday, November 3rd. The transportation company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.01. The business had revenue of $744.30 million during 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 company’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the company earned $0.48 earnings per share. analysts expect that ArcBest will post 1.28 EPS for the current year.

In related news, Director William Legg sold 6,153 shares of ArcBest stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $37.52, for a total transaction of $230,860.56. Following the completion of the sale, the director now owns 36,147 shares of the company’s stock, valued at $1,356,235.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Janice E. Stipp sold 3,700 shares of ArcBest stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $38.09, for a total value of $140,933.00. Following the sale, the director now directly owns 20,200 shares of the company’s stock, valued at approximately $769,418. The disclosure for this sale can be found here. Insiders have sold 13,853 shares of company stock valued at $499,794 in the last ninety days. Corporate insiders own 0.97% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA lifted its holdings in ArcBest by 61.6% in the second quarter. BNP Paribas Arbitrage SA now owns 7,757 shares of the transportation company’s stock valued at $160,000 after acquiring an additional 2,957 shares during the period. Petrus Trust Company LTA lifted its holdings in ArcBest by 39.8% in the second quarter. Petrus Trust Company LTA now owns 14,047 shares of the transportation company’s stock valued at $289,000 after acquiring an additional 3,996 shares during the period. Thrivent Financial For Lutherans lifted its holdings in ArcBest by 6.4% in the second quarter. Thrivent Financial For Lutherans now owns 14,480 shares of the transportation company’s stock valued at $298,000 after acquiring an additional 870 shares during the period. Stephens Inc. AR acquired a new position in ArcBest in the third quarter valued at approximately $299,000. Finally, Crossmark Global Holdings Inc. acquired a new position in ArcBest in the third quarter valued at approximately $414,000. 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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