ArcBest (ARCB) Rating Lowered to Hold at BidaskClub
BidaskClub cut shares of ArcBest (NASDAQ:ARCB) from a buy rating to a hold rating in a research report report published on Wednesday morning.
Several other analysts have also recently issued reports on the stock. Stifel Nicolaus cut shares of ArcBest from a hold rating to a sell rating and upped their price objective for the company from $27.00 to $32.00 in a research note on Wednesday, December 13th. ValuEngine cut shares of ArcBest from a buy rating to a hold rating in a research note on Friday, November 10th. Bank of America upped their price objective on shares of ArcBest from $34.00 to $35.00 and gave the company a neutral rating in a research note on Monday, November 6th. Buckingham Research upped their price objective on shares of ArcBest from $29.00 to $33.00 and gave the company a neutral rating in a research note on Monday, November 6th. Finally, Cowen reaffirmed a market perform rating and set a $33.00 price objective (up previously from $29.00) on shares of ArcBest in a research note on Monday, November 6th. One equities research analyst has rated the stock with a sell rating and eight have issued a hold rating to the stock. ArcBest has an average rating of Hold and a consensus price target of $31.43.
Shares of ArcBest (NASDAQ ARCB) traded down $0.05 during midday trading on Wednesday, reaching $37.00. 221,302 shares of the company traded hands, compared to its average volume of 263,690. ArcBest has a one year low of $16.95 and a one year high of $38.75. The stock has a market cap of $948.57, a PE ratio of 39.78 and a beta of 1.83. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.26 and a current ratio of 1.26.
ArcBest (NASDAQ:ARCB) last announced its quarterly earnings data on Friday, November 3rd. The transportation company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.01. ArcBest had a net margin of 0.88% and a return on equity of 5.34%. The company had revenue of $744.30 million during the quarter, compared to analysts’ expectations of $750.16 million. During the same quarter in the prior year, the company earned $0.48 EPS. ArcBest’s revenue was up 4.3% compared to the same quarter last year. research analysts anticipate that ArcBest will post 1.29 earnings per share for the current fiscal year.
In other ArcBest news, Director William Legg sold 6,153 shares of the business’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $37.52, for a total value of $230,860.56. Following the transaction, the director now directly owns 36,147 shares in the company, valued at approximately $1,356,235.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $140,933.00. Following the completion of the transaction, the director now owns 20,200 shares in the company, valued at $769,418. The disclosure for this sale can be found here. Insiders sold a total of 13,853 shares of company stock worth $499,794 over the last quarter. 0.97% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in ArcBest by 3.9% in the 2nd quarter. Vanguard Group Inc. now owns 2,216,925 shares of the transportation company’s stock valued at $45,669,000 after purchasing an additional 83,738 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in ArcBest by 3.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,192,311 shares of the transportation company’s stock valued at $45,161,000 after purchasing an additional 65,211 shares during the last quarter. Towle & Co. boosted its holdings in ArcBest by 4.0% in the 3rd quarter. Towle & Co. now owns 984,100 shares of the transportation company’s stock valued at $32,918,000 after purchasing an additional 37,976 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in ArcBest by 26.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 524,005 shares of the transportation company’s stock valued at $10,792,000 after purchasing an additional 108,200 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in ArcBest by 5.5% in the 2nd quarter. Northern Trust Corp now owns 494,643 shares of the transportation company’s stock valued at $10,190,000 after purchasing an additional 25,933 shares during the last quarter. Institutional investors own 89.53% of the company’s stock.
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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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