ArcBest (NASDAQ:ARCB) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

Other equities research analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of ArcBest from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research report on Tuesday, January 16th. ValuEngine upgraded shares of ArcBest from a “hold” rating to a “buy” rating in a research report on Saturday, March 10th. Morgan Stanley restated an “equal weight” rating and issued a $32.00 price target (up previously from $23.00) on shares of ArcBest in a research report on Wednesday, February 21st. Stephens restated a “hold” rating and issued a $37.00 price target on shares of ArcBest in a research report on Thursday, April 12th. Finally, Stifel Nicolaus upgraded shares of ArcBest from a “sell” rating to a “hold” rating and reduced their price target for the company from $35.00 to $32.00 in a research report on Monday, April 2nd. Ten equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. ArcBest currently has a consensus rating of “Hold” and an average target price of $35.00.

Shares of NASDAQ:ARCB opened at $48.35 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.33 and a quick ratio of 1.33. The company has a market capitalization of $1.23 billion, a P/E ratio of 25.69, a PEG ratio of 0.55 and a beta of 1.79. ArcBest has a 52 week low of $46.55 and a 52 week high of $48.85.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings results on Thursday, May 10th. The transportation company reported $0.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.36. The business had revenue of $700.00 million during the quarter, compared to the consensus estimate of $689.24 million. ArcBest had a net margin of 2.68% and a return on equity of 7.79%. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.22) EPS. research analysts expect that ArcBest will post 2.51 earnings per share for the current year.

In other ArcBest news, SVP Michael E. Newcity sold 5,589 shares of the company’s stock in a transaction that occurred on Tuesday, May 15th. The shares were sold at an average price of $47.00, for a total value of $262,683.00. Following the transaction, the senior vice president now owns 40,000 shares in the company, valued at approximately $1,880,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.97% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Legal & General Group Plc increased its stake in ArcBest by 3.2% in the 1st quarter. Legal & General Group Plc now owns 48,099 shares of the transportation company’s stock valued at $1,531,000 after buying an additional 1,503 shares during the period. Highbridge Capital Management LLC acquired a new position in ArcBest in the 1st quarter valued at approximately $217,000. Foundry Partners LLC acquired a new position in ArcBest in the 1st quarter valued at approximately $5,823,000. Hancock Holding Co. acquired a new position in shares of ArcBest during the 1st quarter worth $1,249,000. Finally, Element Capital Management LLC acquired a new position in shares of ArcBest during the 1st quarter worth $487,000. Hedge funds and other institutional investors own 90.54% of the company’s stock.

ArcBest Company Profile

ArcBest Corporation provides freight transportation services and integrated logistics solutions worldwide. It operates through three segments: Asset-Based, ArcBest, and FleetNet. The Asset-Based segment transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, nonbulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products through less-than-truckload services.

Analyst Recommendations for ArcBest (NASDAQ:ARCB)

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