ArcBest Corp. (ARCB) Trading Down 3.6%
ArcBest Corp. (NASDAQ:ARCB) shares were down 3.6% on Monday . The stock traded as low as $17.47 and last traded at $17.56, with a volume of 129,231 shares trading hands. The stock had previously closed at $18.21.
Several research analysts have weighed in on ARCB shares. Zacks Investment Research upgraded ArcBest Corp. from a “sell” rating to a “hold” rating in a research note on Monday, April 11th. Stifel Nicolaus downgraded 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. Citigroup Inc. decreased their price target on ArcBest Corp. from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Monday, July 11th. Finally, Deutsche Bank AG set a $20.00 price target on ArcBest Corp. and gave the company a “hold” rating in a research note on Thursday, July 21st. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $24.64.
The stock has a market capitalization of $451.92 million and a PE ratio of 12.36. The stock has a 50-day moving average of $16.86 and a 200 day moving average of $18.94.
ArcBest Corp. (NASDAQ:ARCB) last announced its quarterly earnings results on Friday, April 29th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by $0.13. During the same period last year, the business earned $0.06 earnings per share. The firm had revenue of $621.50 million for the quarter, compared to the consensus estimate of $625.82 million. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. Equities analysts predict that ArcBest Corp. will post $1.10 EPS for the current year.
Several institutional investors have recently made changes to their positions in the stock. 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 during the period. Boston Partners purchased a new position in shares of ArcBest Corp. during the fourth quarter valued at about $1,594,000. 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 during the period. Matarin Capital Management LLC purchased a new position in shares of ArcBest Corp. during the fourth quarter valued at about $5,779,000. Finally, Principal Financial Group Inc. raised its position in shares of ArcBest Corp. by 4.1% in the fourth quarter. Principal Financial Group Inc. now owns 422,723 shares of the company’s stock valued at $9,042,000 after buying an additional 16,588 shares during the period.
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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