ArcBest (ARCB) Cut to “Sell” at Stifel Nicolaus
ArcBest (NASDAQ:ARCB) was downgraded by research analysts at Stifel Nicolaus from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.
A number of other equities research analysts also recently issued reports on ARCB. BidaskClub raised shares of ArcBest from a “hold” rating to a “buy” rating in a research note on Saturday, December 2nd. Zacks Investment Research upgraded shares of ArcBest from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a report on Tuesday, October 10th. ValuEngine upgraded shares of ArcBest from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Morgan Stanley restated an “equal weight” rating and issued a $22.00 target price (up previously from $21.00) on shares of ArcBest in a report on Thursday, October 5th. Finally, Cowen cut shares of ArcBest from an “outperform” rating to a “market perform” rating in a report on Monday, October 16th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $30.86.
Shares of ArcBest (NASDAQ:ARCB) opened at $38.55 on Wednesday. ArcBest has a 52-week low of $16.95 and a 52-week high of $38.75. The company has a market cap of $956.26, a price-to-earnings ratio of 30.33 and a beta of 1.82. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.33.
ArcBest (NASDAQ:ARCB) last posted its quarterly earnings results on Friday, November 3rd. The transportation company reported $0.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.01. The firm had revenue of $744.30 million for the quarter, compared to the consensus estimate of $750.16 million. ArcBest had a net margin of 0.88% and a return on equity of 5.34%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period last year, the firm posted $0.48 earnings per share. equities analysts expect that ArcBest will post 1.29 EPS for the current year.
In other ArcBest news, Director Janice E. Stipp sold 3,700 shares of the business’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $38.09, for a total value of $140,933.00. Following the sale, the director now directly owns 20,200 shares in the company, valued at $769,418. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Steven Spinner sold 4,000 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $32.00, for a total transaction of $128,000.00. Following the completion of the sale, the director now owns 24,700 shares in the company, valued at $790,400. The disclosure for this sale can be found here. 0.97% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Pacad Investment Ltd. grew its stake in ArcBest by 34.1% during the 2nd quarter. Pacad Investment Ltd. now owns 5,900 shares of the transportation company’s stock valued at $122,000 after acquiring an additional 1,500 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in ArcBest by 61.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,757 shares of the transportation company’s stock valued at $160,000 after acquiring an additional 2,957 shares in the last quarter. Stephens Inc. AR purchased a new position in ArcBest during the 3rd quarter valued at about $299,000. Louisiana State Employees Retirement System grew its stake in ArcBest by 1.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 9,800 shares of the transportation company’s stock valued at $202,000 after acquiring an additional 100 shares in the last quarter. Finally, Marshall Wace North America L.P. purchased a new position in ArcBest during the 2nd quarter valued at about $236,000. 89.57% of the stock is currently owned by hedge funds and other institutional investors.
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ArcBest 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).
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