ArcBest (NASDAQ:ARCB) was downgraded by TheStreet from a “b-” rating to a “c+” rating in a note issued to investors on Wednesday, TheStreetRatingsTable reports.
A number of other brokerages have also weighed in on ARCB. SunTrust Banks set a $35.00 price objective on ArcBest and gave the company a “buy” rating in a research note on Wednesday, September 18th. BidaskClub lowered ArcBest from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Finally, ValuEngine upgraded ArcBest from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $35.13.
ARCB stock opened at $28.44 on Wednesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.41 and a current ratio of 1.41. ArcBest has a 1 year low of $24.68 and a 1 year high of $41.87. The firm has a market cap of $712.41 million, a P/E ratio of 7.37 and a beta of 1.94. The stock has a 50-day simple moving average of $29.25 and a 200-day simple moving average of $28.45.
ArcBest (NASDAQ:ARCB) last posted its earnings results on Thursday, October 31st. The transportation company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.15. ArcBest had a return on equity of 11.27% and a net margin of 2.00%. The business had revenue of $787.56 million during the quarter, compared to analyst estimates of $797.16 million. During the same quarter last year, the firm earned $1.49 earnings per share. The company’s revenue for the quarter was down 4.7% compared to the same quarter last year. On average, equities research analysts predict that ArcBest will post 2.55 EPS for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of ARCB. Nuveen Asset Management LLC acquired a new stake in ArcBest during the 2nd quarter valued at approximately $11,612,000. Schroder Investment Management Group grew its stake in ArcBest by 6,072.2% during the 2nd quarter. Schroder Investment Management Group now owns 111,100 shares of the transportation company’s stock valued at $3,123,000 after purchasing an additional 109,300 shares in the last quarter. D. E. Shaw & Co. Inc. grew its position in shares of ArcBest by 33.3% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 395,122 shares of the transportation company’s stock worth $11,107,000 after acquiring an additional 98,634 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of ArcBest in the 2nd quarter worth approximately $2,500,000. Finally, Mackay Shields LLC acquired a new position in shares of ArcBest in the 3rd quarter worth approximately $2,320,000. Hedge funds and other institutional investors own 91.57% of the company’s stock.
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.
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