ArcBest Corp. (ARCB) Trading Up 4.9%
ArcBest Corp. (NASDAQ:ARCB) shares were up 4.9% during mid-day trading on Friday . The company traded as high as $16.91 and last traded at $16.83, with a volume of 74,582 shares changing hands. The stock had previously closed at $16.04.
A number of research analysts have issued reports on ARCB shares. Zacks Investment Research raised ArcBest Corp. from a “sell” rating to a “hold” rating in a research note on Monday, April 11th. Stifel Nicolaus cut ArcBest Corp. from a “buy” rating to a “hold” rating in a research note on Monday, May 2nd. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $25.36.
The stock has a 50 day moving average of $16.63 and a 200-day moving average of $19.21. The company has a market cap of $432.88 million and a price-to-earnings ratio of 11.84.
ArcBest Corp. (NASDAQ:ARCB) last announced its earnings results on Friday, April 29th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by $0.13. The company earned $621.50 million during the quarter, compared to analyst estimates of $625.82 million. During the same period in the prior year, the company posted $0.06 earnings per share. The firm’s revenue was up 1.3% compared to the same quarter last year. Equities research analysts expect that ArcBest Corp. will post $1.12 EPS for the current fiscal year.
A number of hedge funds and institutional investors recently made changes to their positions in the company. LSV Asset Management raised its position in shares of ArcBest Corp. by 9.8% in the fourth quarter. LSV Asset Management now owns 501,193 shares of the company’s stock valued at $10,720,000 after buying an additional 44,906 shares in the last quarter. Bank of Montreal Can raised its position in shares of ArcBest Corp. by 346.4% in the fourth quarter. Bank of Montreal Can now owns 214,014 shares of the company’s stock valued at $4,578,000 after buying an additional 166,068 shares in the last quarter. Cornercap Investment Counsel Inc. raised its position in shares of ArcBest Corp. by 12.6% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 48,252 shares of the company’s stock valued at $1,032,000 after buying an additional 5,390 shares in the last quarter. Sei Investments Co. raised its position in shares of ArcBest Corp. by 9.4% in the fourth quarter. Sei Investments Co. now owns 51,043 shares of the company’s stock valued at $1,092,000 after buying an additional 4,377 shares in the last quarter. Finally, Boston Partners bought a new position in shares of ArcBest Corp. during the fourth quarter valued at about $1,594,000.
ArcBest Corporation is a holding company of businesses providing freight transportation services and logistics solutions. The Company operates through five segments: Freight Transportation (ABF Freight) segment, Premium Logistics (Panther), Transportation Management (ABF Logistics), Emergency & Preventative Maintenance (FleetNet) and Household Goods Moving Services (ABF Moving).
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