ArcBest Corp. (ARCB) Trading 3.5% Higher
ArcBest Corp. (NASDAQ:ARCB) shares traded up 3.5% during trading on Friday . The stock traded as high as $18.12 and last traded at $18.12, with a volume of 79,322 shares. The stock had previously closed at $17.50.
Several research analysts recently commented on the company. Zacks Investment Research cut ArcBest Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, April 26th. Stifel Nicolaus cut ArcBest Corp. from a “buy” rating to a “hold” rating in a research report on Monday, May 2nd. They noted that the move was a valuation call. Deutsche Bank AG set a $20.00 target price on ArcBest Corp. and gave the stock a “hold” rating in a research report on Thursday. Finally, Citigroup Inc. reduced their target price on ArcBest Corp. from $20.00 to $17.00 and set a “neutral” rating for the company in a research report on Monday, July 11th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. ArcBest Corp. presently has an average rating of “Hold” and an average price target of $24.64.
The stock’s 50-day moving average price is $16.85 and its 200-day moving average price is $18.98. The firm has a market capitalization of $468.65 million and a price-to-earnings ratio of 12.81.
ArcBest Corp. (NASDAQ:ARCB) last posted its earnings results on Friday, April 29th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by $0.13. During the same quarter in the previous year, the firm earned $0.06 earnings per share. The company earned $621.50 million during the quarter, compared to analyst estimates of $625.82 million. The company’s revenue 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 fiscal year.
Other hedge funds and institutional investors have bought and sold shares of the company. Sei Investments Co. raised its position in ArcBest Corp. by 9.4% in the fourth quarter. Sei Investments Co. now owns 51,043 shares of the company’s stock worth $1,092,000 after buying an additional 4,377 shares during the last quarter. Boston Partners acquired a new position in ArcBest Corp. during the fourth quarter worth $1,594,000. Bank of Montreal Can raised its position in ArcBest Corp. by 346.4% in the fourth quarter. Bank of Montreal Can now owns 214,014 shares of the company’s stock worth $4,578,000 after buying an additional 166,068 shares during the last quarter. Principal Financial Group Inc. raised its position in ArcBest Corp. by 4.1% in the fourth quarter. Principal Financial Group Inc. now owns 422,723 shares of the company’s stock worth $9,042,000 after buying an additional 16,588 shares during the last quarter. Finally, Matarin Capital Management LLC acquired a new position in ArcBest Corp. during the fourth quarter worth $5,779,000.
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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