Stifel Nicolaus Reiterates Hold Rating for ArcBest Corporation (ARCB)
ArcBest Corporation (NASDAQ:ARCB)‘s stock had its “hold” rating reaffirmed by equities researchers at Stifel Nicolaus in a report issued on Thursday. They currently have a $28.00 price target on the transportation company’s stock. Stifel Nicolaus’ price objective suggests a potential downside of 8.79% from the stock’s previous close.
Other equities analysts also recently issued reports about the stock. TheStreet upgraded shares of ArcBest Corporation from a “c” rating to a “b-” rating in a report on Friday, July 28th. ValuEngine upgraded shares of ArcBest Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Cowen and Company reiterated a “buy” rating and set a $29.00 price target on shares of ArcBest Corporation in a report on Sunday, July 30th. Zacks Investment Research upgraded shares of ArcBest Corporation from a “sell” rating to a “hold” rating in a report on Thursday, July 6th. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $29.00 price target (up from $26.00) on shares of ArcBest Corporation in a report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $29.60.
Shares of ArcBest Corporation (NASDAQ ARCB) opened at 30.70 on Thursday. ArcBest Corporation has a 12-month low of $16.95 and a 12-month high of $33.95. The stock’s 50 day moving average is $27.44 and its 200-day moving average is $23.98. The stock has a market capitalization of $789.17 million, a price-to-earnings ratio of 35.49 and a beta of 1.70.
ArcBest Corporation (NASDAQ:ARCB) last issued its quarterly earnings results on Friday, July 28th. The transportation company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.48 by $0.09. The company had revenue of $720.40 million for the quarter, compared to the consensus estimate of $721.11 million. ArcBest Corporation had a net margin of 0.83% and a return on equity of 4.92%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.38 EPS. On average, analysts expect that ArcBest Corporation will post $1.31 earnings per share for the current year.
In other ArcBest Corporation news, COO James A. Ingram sold 6,918 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $27.14, for a total value of $187,754.52. Following the completion of the sale, the chief operating officer now directly owns 43,500 shares of the company’s stock, valued at approximately $1,180,590. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Daniel E. Loe sold 9,929 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $25.87, for a total transaction of $256,863.23. Following the completion of the sale, the insider now directly owns 33,600 shares of the company’s stock, valued at $869,232. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,210 shares of company stock valued at $665,376. 0.97% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company boosted its position in ArcBest Corporation by 8.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,032 shares of the transportation company’s stock valued at $434,000 after buying an additional 1,683 shares during the period. PDT Partners LLC boosted its position in ArcBest Corporation by 22.6% in the 2nd quarter. PDT Partners LLC now owns 55,300 shares of the transportation company’s stock valued at $1,139,000 after buying an additional 10,200 shares during the period. Petrus Trust Company LTA boosted its position in ArcBest Corporation by 39.8% in the 2nd quarter. Petrus Trust Company LTA now owns 14,047 shares of the transportation company’s stock valued at $289,000 after buying an additional 3,996 shares during the period. Voya Investment Management LLC boosted its position in ArcBest Corporation by 4.7% in the 2nd quarter. Voya Investment Management LLC now owns 33,561 shares of the transportation company’s stock valued at $691,000 after buying an additional 1,503 shares during the period. Finally, Citadel Advisors LLC purchased a new stake in ArcBest Corporation in the 2nd quarter valued at about $1,192,000. 84.91% of the stock is owned by institutional investors.
ArcBest Corporation Company Profile
ArcBest Corporation is a holding company of businesses providing integrated logistics solutions. The Company operates through three segments: Asset-Based, which consists of ABF Freight System, Inc and other subsidiaries; ArcBest, which represents the consolidation of the operations of the Premium Logistics, Transportation Management and Household Goods Moving Services segments, and FleetNet, which includes the results of operations of FleetNet America, Inc (FleetNet).
Receive News & Ratings for ArcBest Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ArcBest Corporation and related companies with MarketBeat.com's FREE daily email newsletter.