ArcBest Corporation (NASDAQ:ARCB) Receives Consensus Rating of “Hold” from Analysts

Shares of ArcBest Corporation (NASDAQ:ARCB) have earned an average recommendation of “Hold” from the fifteen ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $90.00.

Several research analysts have weighed in on ARCB shares. Stifel Nicolaus lowered their price target on ArcBest from $93.00 to $81.00 and set a “buy” rating on the stock in a research report on Thursday, July 31st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of ArcBest in a research report on Friday. Citigroup raised ArcBest from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $79.00 to $89.00 in a research report on Wednesday, October 8th. Morgan Stanley decreased their target price on ArcBest from $140.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, July 31st. Finally, Wells Fargo & Company decreased their target price on ArcBest from $90.00 to $80.00 and set an “equal weight” rating on the stock in a report on Thursday, July 31st.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Signaturefd LLC increased its holdings in shares of ArcBest by 477.6% during the 1st quarter. Signaturefd LLC now owns 387 shares of the transportation company’s stock worth $27,000 after acquiring an additional 320 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of ArcBest by 433.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 384 shares of the transportation company’s stock worth $30,000 after acquiring an additional 312 shares during the last quarter. CWM LLC increased its holdings in shares of ArcBest by 338.8% during the 1st quarter. CWM LLC now owns 452 shares of the transportation company’s stock worth $32,000 after acquiring an additional 349 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in ArcBest in the 2nd quarter valued at $51,000. Finally, Canada Pension Plan Investment Board acquired a new position in ArcBest in the 2nd quarter valued at $85,000. 99.27% of the stock is owned by institutional investors and hedge funds.

ArcBest Trading Up 1.9%

NASDAQ ARCB opened at $74.56 on Wednesday. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 1.38 and a beta of 1.66. The stock’s 50 day moving average price is $72.40 and its two-hundred day moving average price is $70.78. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.96 and a current ratio of 0.96. ArcBest has a 52 week low of $55.19 and a 52 week high of $123.25.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.48 by ($0.12). The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. ArcBest had a return on equity of 8.67% and a net margin of 3.90%.The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period last year, the firm earned $1.98 EPS. As a group, analysts anticipate that ArcBest will post 7 earnings per share for the current fiscal year.

ArcBest Company Profile

ArcBest Corporation, an integrated logistics company, engages in the provision of ground, air, and ocean transportation solutions. It operates through two segments: Asset-Based and Asset-Light. The Asset-Based segment provides less-than-truckload (LTL) services, that transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, non-bulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products.