ArcBest (ARCB) Stock Rating Upgraded by BidaskClub
ArcBest (NASDAQ:ARCB) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Saturday.
A number of other equities research analysts have also issued reports on the company. ValuEngine raised ArcBest from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Zacks Investment Research raised ArcBest from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research report on Tuesday, October 10th. Buckingham Research lifted their target price on ArcBest from $29.00 to $33.00 and gave the company a “neutral” rating in a research report on Monday, November 6th. Bank of America lifted their target price on ArcBest from $34.00 to $35.00 and gave the company a “neutral” rating in a research report on Monday, November 6th. Finally, Cowen lowered ArcBest from an “outperform” rating to a “market perform” rating in a research report on Monday, October 16th. Nine equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $30.86.
ArcBest (ARCB) traded down $0.95 during trading hours on Friday, hitting $36.90. The stock had a trading volume of 200,954 shares, compared to its average volume of 224,121. ArcBest has a fifty-two week low of $16.95 and a fifty-two week high of $38.05. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.26 and a quick ratio of 1.26. The company has a market cap of $946.00, a PE ratio of 30.77 and a beta of 1.78.
ArcBest (NASDAQ:ARCB) last announced its earnings results on Friday, November 3rd. The transportation company reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.01. ArcBest had a return on equity of 5.34% and a net margin of 0.88%. The business had revenue of $744.30 million for the quarter, compared to analyst estimates of $750.16 million. During the same quarter last year, the firm earned $0.48 EPS. ArcBest’s revenue for the quarter was up 4.3% compared to the same quarter last year. equities analysts anticipate that ArcBest will post 1.28 earnings per share for the current year.
In other news, Director Steven Spinner sold 4,000 shares of ArcBest stock in a transaction that occurred on 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 transaction, the director now directly owns 24,700 shares in the company, valued at approximately $790,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michael R. Johns sold 6,593 shares of ArcBest stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $29.98, for a total value of $197,658.14. Following the transaction, the vice president now owns 35,700 shares of the company’s stock, valued at $1,070,286. The disclosure for this sale can be found here. Insiders have sold a total of 11,363 shares of company stock worth $348,758 in the last ninety days. Insiders own 0.97% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of ArcBest by 3.9% during the 2nd quarter. Vanguard Group Inc. now owns 2,216,925 shares of the transportation company’s stock worth $45,669,000 after acquiring an additional 83,738 shares during the period. Municipal Employees Retirement System of Michigan boosted its stake in ArcBest by 4.6% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 91,340 shares of the transportation company’s stock valued at $3,055,000 after purchasing an additional 3,990 shares during the period. Systematic Financial Management LP boosted its stake in ArcBest by 55.6% in the 2nd quarter. Systematic Financial Management LP now owns 88,382 shares of the transportation company’s stock valued at $1,821,000 after purchasing an additional 31,575 shares during the period. LSV Asset Management boosted its stake in ArcBest by 12.3% in the 2nd quarter. LSV Asset Management now owns 427,500 shares of the transportation company’s stock valued at $8,806,000 after purchasing an additional 46,700 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake 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 period. Institutional investors own 89.54% of the company’s stock.
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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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