ArcBest Corporation (NASDAQ:ARCB) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

ArcBest Corporation (NASDAQ:ARCB) has been given an average recommendation of “Moderate Buy” by the fifteen analysts that are currently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $155.0769.

A number of equities research analysts have recently commented on ARCB shares. UBS Group raised their target price on ArcBest from $122.00 to $145.00 and gave the company a “neutral” rating in a research report on Tuesday, July 7th. Citigroup initiated coverage on ArcBest in a report on Wednesday, July 15th. They issued a “market outperform” rating for the company. Wall Street Zen upgraded ArcBest from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Morgan Stanley raised their price objective on ArcBest from $150.00 to $180.00 and gave the company an “overweight” rating in a report on Monday, July 6th. Finally, JPMorgan Chase & Co. boosted their price objective on ArcBest from $117.00 to $147.00 and gave the company a “neutral” rating in a research report on Monday, June 8th.

Institutional Investors Weigh In On ArcBest

A number of institutional investors have recently added to or reduced their stakes in ARCB. AQR Capital Management LLC raised its position in ArcBest by 300.3% during the first quarter. AQR Capital Management LLC now owns 26,896 shares of the transportation company’s stock worth $1,898,000 after acquiring an additional 20,177 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of ArcBest by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,017 shares of the transportation company’s stock valued at $989,000 after purchasing an additional 619 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of ArcBest by 215.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 153,138 shares of the transportation company’s stock valued at $10,808,000 after purchasing an additional 104,643 shares during the period. Jane Street Group LLC increased its stake in shares of ArcBest by 278.2% during the first quarter. Jane Street Group LLC now owns 45,591 shares of the transportation company’s stock worth $3,218,000 after purchasing an additional 33,537 shares in the last quarter. Finally, Intech Investment Management LLC increased its stake in shares of ArcBest by 3.4% during the first quarter. Intech Investment Management LLC now owns 20,135 shares of the transportation company’s stock worth $1,421,000 after purchasing an additional 655 shares in the last quarter. Institutional investors and hedge funds own 99.27% of the company’s stock.

ArcBest Stock Down 1.5%

ARCB stock opened at $156.99 on Friday. ArcBest has a one year low of $59.43 and a one year high of $176.69. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.93 and a current ratio of 0.93. The firm’s fifty day moving average is $146.06 and its 200 day moving average is $117.23. The firm has a market cap of $3.49 billion, a PE ratio of 64.61, a P/E/G ratio of 0.56 and a beta of 1.57.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings data on Tuesday, April 28th. The transportation company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. The business had revenue of $998.79 million during the quarter, compared to the consensus estimate of $999.07 million. ArcBest had a net margin of 1.38% and a return on equity of 6.15%. The company’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.51 earnings per share. On average, research analysts forecast that ArcBest will post 6.62 EPS for the current year.

ArcBest Company Profile

ArcBest Corporation (NASDAQ: ARCB) is a transportation and logistics company that offers comprehensive freight and supply chain solutions across North America. Founded in 1923 as Arkansas Best Freight System, the company has evolved into a diversified service provider with both asset-based and asset-light operations. Its core businesses include less-than-truckload (LTL) shipping through ABF Freight, expedited full-truckload services via Panther Premium Logistics, and a range of logistics and supply chain management services under its ArcBest Integrated Logistics division.

The company’s asset-based operations also encompass FleetNet America, a provider of emergency roadside assistance and maintenance services for heavy-duty vehicles.