Shares of ArcBest Corp (NASDAQ:ARCB) have received an average recommendation of “Hold” from the fifteen research firms that are presently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $37.67.
ARCB has been the topic of several recent research reports. Loop Capital raised their target price on shares of Burlington Stores to $200.00 and gave the stock a “buy” rating in a report on Monday, May 6th. TheStreet raised shares of BlackRock TCP Capital from a “c+” rating to a “b” rating in a report on Tuesday, May 28th. ValuEngine cut shares of Whiting USA Trust II from a “hold” rating to a “sell” rating in a report on Tuesday, May 7th. Zacks Investment Research cut shares of HEXO from a “hold” rating to a “sell” rating in a report on Wednesday, May 15th. Finally, Buckingham Research lowered their target price on shares of American Axle & Manufact. from $16.00 to $15.00 and set a “neutral” rating on the stock in a report on Monday, May 6th.
Large investors have recently made changes to their positions in the stock. Pearl River Capital LLC bought a new position in ArcBest in the first quarter valued at approximately $68,000. PNC Financial Services Group Inc. increased its stake in ArcBest by 13.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,163 shares of the transportation company’s stock valued at $107,000 after acquiring an additional 375 shares during the last quarter. Neuburgh Advisers LLC increased its stake in ArcBest by 15.1% in the fourth quarter. Neuburgh Advisers LLC now owns 3,520 shares of the transportation company’s stock valued at $121,000 after acquiring an additional 462 shares during the last quarter. NumerixS Investment Technologies Inc bought a new position in ArcBest in the first quarter valued at approximately $122,000. Finally, Flinton Capital Management LLC increased its stake in ArcBest by 15.1% in the fourth quarter. Flinton Capital Management LLC now owns 5,440 shares of the transportation company’s stock valued at $186,000 after acquiring an additional 714 shares during the last quarter. 98.77% of the stock is currently owned by institutional investors and hedge funds.
Shares of ARCB traded up $1.21 during mid-day trading on Friday, hitting $26.90. 231,063 shares of the company’s stock were exchanged, compared to its average volume of 210,841. ArcBest has a 52 week low of $24.68 and a 52 week high of $51.45. The stock has a 50-day moving average of $26.45. The stock has a market capitalization of $655.44 million, a price-to-earnings ratio of 6.97 and a beta of 2.09. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.40 and a current ratio of 1.40.
ArcBest (NASDAQ:ARCB) last announced its earnings results on Thursday, May 2nd. The transportation company reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.13). ArcBest had a return on equity of 14.19% and a net margin of 2.00%. The business had revenue of $711.84 million for the quarter, compared to the consensus estimate of $724.33 million. During the same period in the prior year, the business posted $0.29 earnings per share. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. Sell-side analysts forecast that ArcBest will post 3.29 earnings per share for the current year.
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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