ArcBest (ARCB) Cut to “Sell” at BidaskClub

BidaskClub downgraded shares of ArcBest (NASDAQ:ARCB) from a hold rating to a sell rating in a research note issued to investors on Friday.

Several other research analysts also recently commented on the company. Zacks Investment Research downgraded ArcBest from a strong-buy rating to a hold rating in a research note on Wednesday, March 14th. ValuEngine raised ArcBest from a hold rating to a buy rating in a research note on Saturday, March 10th. Morgan Stanley reaffirmed an equal weight rating and issued a $32.00 price objective (up previously from $23.00) on shares of ArcBest in a research note on Wednesday, February 21st. Citigroup raised their price objective on ArcBest from $38.00 to $40.00 and gave the stock a neutral rating in a research note on Tuesday, February 6th. Finally, Cowen reaffirmed a market perform rating and issued a $39.00 price objective (up previously from $33.00) on shares of ArcBest in a research note on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. ArcBest presently has a consensus rating of Hold and an average price target of $35.88.

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ARCB stock opened at $32.05 on Friday. ArcBest has a fifty-two week low of $16.95 and a fifty-two week high of $39.70. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.30 and a current ratio of 1.30. The stock has a market capitalization of $821.81, a price-to-earnings ratio of 24.10 and a beta of 1.73.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings data on Wednesday, January 31st. The transportation company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.35 by $0.07. ArcBest had a return on equity of 5.82% and a net margin of 2.11%. The firm had revenue of $710.72 million for the quarter, compared to the consensus estimate of $723.69 million. During the same quarter last year, the company earned $0.28 earnings per share. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. equities analysts predict that ArcBest will post 2.28 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. grew its position in shares of ArcBest by 22.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 681,535 shares of the transportation company’s stock worth $24,365,000 after purchasing an additional 126,959 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of ArcBest by 3.7% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 323,068 shares of the transportation company’s stock worth $11,550,000 after purchasing an additional 11,611 shares in the last quarter. Geode Capital Management LLC grew its position in shares of ArcBest by 4.7% during the fourth quarter. Geode Capital Management LLC now owns 234,323 shares of the transportation company’s stock worth $8,377,000 after purchasing an additional 10,573 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of ArcBest by 80.6% during the fourth quarter. Acadian Asset Management LLC now owns 227,651 shares of the transportation company’s stock worth $8,139,000 after purchasing an additional 101,593 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of ArcBest by 6.1% during the third quarter. Principal Financial Group Inc. now owns 193,857 shares of the transportation company’s stock worth $6,485,000 after purchasing an additional 11,101 shares in the last quarter. Hedge funds and other institutional investors own 88.61% of the company’s stock.

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About ArcBest

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).

Analyst Recommendations for ArcBest (NASDAQ:ARCB)

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