ArcBest (NASDAQ:ARCB) had its price objective raised by analysts at Stifel Nicolaus from $28.00 to $29.00 in a research report issued on Thursday, Stock Target Advisor reports. The brokerage presently has a “hold” rating on the transportation company’s stock. Stifel Nicolaus’ target price would indicate a potential downside of 6.96% from the stock’s current price.
A number of other equities research analysts have also issued reports on the stock. SunTrust Banks set a $35.00 price objective on shares of ArcBest and gave the company a “buy” rating in a report on Wednesday, September 18th. Citigroup lowered their target price on ArcBest from $34.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. BidaskClub upgraded ArcBest from a “hold” rating to a “buy” rating in a research report on Tuesday, October 1st. ValuEngine upgraded ArcBest from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Finally, Zacks Investment Research downgraded ArcBest from a “hold” rating to a “sell” rating in a research report on Tuesday, August 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $34.44.
ArcBest stock traded down $0.10 during midday trading on Thursday, hitting $31.17. The stock had a trading volume of 101,400 shares, compared to its average volume of 252,054. The firm’s fifty day moving average is $29.92 and its two-hundred day moving average is $28.64. The company has a market capitalization of $806.70 million, a PE ratio of 8.08 and a beta of 1.99. ArcBest has a 52-week low of $24.68 and a 52-week high of $41.87. The company has a current ratio of 1.41, a quick ratio of 1.38 and a debt-to-equity ratio of 0.39.
ArcBest (NASDAQ:ARCB) last announced its quarterly earnings data on Thursday, October 31st. The transportation company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.15. ArcBest had a net margin of 2.00% and a return on equity of 11.27%. The business had revenue of $787.56 million during the quarter, compared to analyst estimates of $797.16 million. During the same period last year, the firm posted $1.49 EPS. The company’s revenue was down 4.7% on a year-over-year basis. As a group, equities research analysts predict that ArcBest will post 2.53 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently modified their holdings of the stock. Ladenburg Thalmann Financial Services Inc. lifted its position in ArcBest by 280.5% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,891 shares of the transportation company’s stock worth $53,000 after buying an additional 1,394 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of ArcBest during the second quarter worth $87,000. Quantamental Technologies LLC lifted its position in shares of ArcBest by 1,924.5% during the second quarter. Quantamental Technologies LLC now owns 3,887 shares of the transportation company’s stock worth $109,000 after purchasing an additional 3,695 shares during the last quarter. Stephens Inc. AR lifted its position in shares of ArcBest by 16.2% during the second quarter. Stephens Inc. AR now owns 7,901 shares of the transportation company’s stock worth $222,000 after purchasing an additional 1,100 shares during the last quarter. Finally, 6 Meridian bought a new stake in shares of ArcBest during the third quarter worth $245,000. Institutional investors own 93.08% of the company’s stock.
ArcBest Company Profile
ArcBest Corporation provides freight transportation services and integrated logistics solutions worldwide. It operates through three segments: Asset-Based, ArcBest, and FleetNet. The Asset-Based segment transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, nonbulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products through less-than-truckload services.
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