ArcBest (NASDAQ:ARCB) had its price target reduced by Citigroup from $34.00 to $28.00 in a report published on Thursday morning, BenzingaRatingsTable reports. Citigroup currently has a neutral rating on the transportation company’s stock.
A number of other equities analysts have also recently weighed in on the stock. ValuEngine cut shares of Whiting USA Trust II from a hold rating to a sell rating in a research report on Tuesday, May 7th. TheStreet raised shares of BlackRock TCP Capital from a c+ rating to a b rating in a research report on Tuesday, May 28th. Wolfe Research cut shares of Restoration Hardware from an outperform rating to a market perform rating in a research report on Monday, April 1st. Mizuho started coverage on shares of Merck & Co., Inc. in a research report on Tuesday, July 2nd. They set a buy rating and a $97.00 price target on the stock. Finally, BidaskClub raised shares of Zynerba Pharmaceuticals from a hold rating to a buy rating in a research report on Thursday, June 20th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. ArcBest presently has an average rating of Hold and a consensus price target of $37.67.
Shares of NASDAQ ARCB opened at $26.90 on Thursday. The stock’s fifty day moving average price is $26.45. The company has a market capitalization of $686.30 million, a PE ratio of 7.19 and a beta of 2.09. ArcBest has a twelve month low of $24.68 and a twelve month high of $51.45. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.39.
ArcBest (NASDAQ:ARCB) last announced its quarterly earnings results on Thursday, May 2nd. The transportation company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.13). The firm had revenue of $711.84 million for the quarter, compared to the consensus estimate of $724.33 million. ArcBest had a return on equity of 14.19% and a net margin of 2.00%. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.29 earnings per share. As a group, analysts forecast that ArcBest will post 3.29 EPS for the current fiscal year.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. lifted its position in ArcBest by 5.0% in the 4th quarter. Principal Financial Group Inc. now owns 224,606 shares of the transportation company’s stock valued at $7,695,000 after acquiring an additional 10,738 shares in the last quarter. Victory Capital Management Inc. increased its stake in ArcBest by 30.5% in the 1st quarter. Victory Capital Management Inc. now owns 6,915 shares of the transportation company’s stock valued at $213,000 after buying an additional 1,615 shares during the last quarter. Globeflex Capital L P increased its stake in ArcBest by 1.6% in the 1st quarter. Globeflex Capital L P now owns 27,795 shares of the transportation company’s stock valued at $856,000 after buying an additional 439 shares during the last quarter. First Trust Advisors LP increased its stake in ArcBest by 316.5% in the 4th quarter. First Trust Advisors LP now owns 45,619 shares of the transportation company’s stock valued at $1,563,000 after buying an additional 34,667 shares during the last quarter. Finally, BlackRock Inc. increased its stake in ArcBest by 2.6% in the 4th quarter. BlackRock Inc. now owns 3,728,659 shares of the transportation company’s stock valued at $127,743,000 after buying an additional 93,618 shares during the last quarter. 98.77% of the stock is currently owned by institutional investors and hedge funds.
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.
Read More: What is a trade deficit?
Receive News & Ratings for ArcBest Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ArcBest and related companies with MarketBeat.com's FREE daily email newsletter.