Shares of ArcBest Corp (NASDAQ:ARCB) have earned an average recommendation of “Hold” from the fourteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $35.13.
A number of research firms have weighed in on ARCB. TheStreet raised shares of ArcBest from a “c+” rating to a “b-” rating in a research report on Monday, September 9th. ValuEngine raised shares of ArcBest from a “sell” rating to a “hold” rating in a research report on Thursday, September 5th. Mizuho reaffirmed a “buy” rating and set a $38.00 price objective on shares of ArcBest in a research report on Tuesday, July 2nd. Zacks Investment Research downgraded shares of ArcBest from a “hold” rating to a “sell” rating in a research report on Tuesday, August 6th. Finally, Morgan Stanley set a $36.00 price objective on shares of ArcBest and gave the stock a “hold” rating in a research report on Monday, July 8th.
Hedge funds have recently made changes to their positions in the company. Swiss National Bank lifted its holdings in shares of ArcBest by 1.5% in the 2nd quarter. Swiss National Bank now owns 47,600 shares of the transportation company’s stock worth $1,338,000 after purchasing an additional 700 shares in the last quarter. Aperio Group LLC lifted its holdings in shares of ArcBest by 3.6% in the 2nd quarter. Aperio Group LLC now owns 31,441 shares of the transportation company’s stock worth $884,000 after purchasing an additional 1,089 shares in the last quarter. United Services Automobile Association lifted its holdings in shares of ArcBest by 14.2% in the 2nd quarter. United Services Automobile Association now owns 8,778 shares of the transportation company’s stock worth $247,000 after purchasing an additional 1,090 shares in the last quarter. Stephens Inc. AR lifted its holdings in shares of ArcBest by 16.2% in the 2nd 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 in the last quarter. Finally, Wedge Capital Management L L P NC lifted its holdings in shares of ArcBest by 8.9% in the 2nd quarter. Wedge Capital Management L L P NC now owns 15,174 shares of the transportation company’s stock worth $427,000 after purchasing an additional 1,237 shares in the last quarter. 93.52% of the stock is owned by institutional investors.
NASDAQ:ARCB traded up $0.11 on Monday, reaching $30.50. 12,043 shares of the stock traded hands, compared to its average volume of 215,500. The firm has a market capitalization of $775.55 million, a price-to-earnings ratio of 7.90 and a beta of 2.00. The company’s 50 day moving average is $29.80 and its 200-day moving average is $28.90. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.39. ArcBest has a 1-year low of $24.68 and a 1-year high of $44.41.
ArcBest (NASDAQ:ARCB) last released its earnings results on Tuesday, July 30th. The transportation company reported $0.93 earnings per share for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.03). The firm had revenue of $771.50 million for the quarter, compared to analyst estimates of $779.07 million. ArcBest had a net margin of 2.77% and a return on equity of 13.11%. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.12 EPS. On average, equities research analysts forecast that ArcBest will post 2.77 EPS for the current fiscal 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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