ArcBest (ARCB) Cut to Hold at BidaskClub

ArcBest (NASDAQ:ARCB) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

Several other brokerages also recently weighed in on ARCB. ValuEngine downgraded ArcBest from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. Zacks Investment Research raised ArcBest from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research report on Tuesday, October 10th. Cowen reaffirmed a “market perform” rating and issued a $33.00 target price (up previously from $29.00) on shares of ArcBest in a research report on Monday, November 6th. Stifel Nicolaus downgraded ArcBest from a “hold” rating to a “sell” rating and upped their target price for the stock from $27.00 to $32.00 in a research report on Wednesday, December 13th. Finally, Buckingham Research increased their price target on ArcBest from $29.00 to $33.00 and gave the company a “neutral” rating in a report on Monday, November 6th. One research analyst has rated the stock with a sell rating and eight have given a hold rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $31.43.

Shares of ArcBest (NASDAQ ARCB) opened at $36.30 on Wednesday. The company has a market capitalization of $930.62, a PE ratio of 39.03 and a beta of 1.83. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.26 and a current ratio of 1.26. ArcBest has a 12 month low of $16.95 and a 12 month high of $38.75.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings results on Friday, November 3rd. The transportation company reported $0.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.01. The company had revenue of $744.30 million during the quarter, compared to analyst estimates of $750.16 million. ArcBest had a return on equity of 9.73% and a net margin of 1.99%. The firm’s revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.48 earnings per share. sell-side analysts anticipate that ArcBest will post 1.3 EPS for the current fiscal year.

In other ArcBest news, Director Janice E. Stipp sold 3,700 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $38.09, for a total transaction of $140,933.00. Following the sale, the director now owns 20,200 shares in the company, valued at $769,418. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Steven Spinner sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $32.00, for a total value of $128,000.00. Following the sale, the director now owns 24,700 shares in the company, valued at approximately $790,400. The disclosure for this sale can be found here. Insiders have sold 13,853 shares of company stock worth $499,794 in the last 90 days. 0.97% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the company. GSA Capital Partners LLP raised its position in shares of ArcBest by 36.7% during the 3rd quarter. GSA Capital Partners LLP now owns 44,326 shares of the transportation company’s stock worth $1,483,000 after purchasing an additional 11,905 shares during the period. Algert Global LLC acquired a new stake in shares of ArcBest during the 3rd quarter worth approximately $2,824,000. California Public Employees Retirement System raised its position in shares of ArcBest by 29.2% during the 3rd quarter. California Public Employees Retirement System now owns 43,786 shares of the transportation company’s stock worth $1,465,000 after purchasing an additional 9,886 shares during the period. Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of ArcBest during the 3rd quarter worth approximately $2,180,000. Finally, Convergence Investment Partners LLC acquired a new stake in shares of ArcBest during the 3rd quarter worth approximately $568,000. Institutional investors and hedge funds own 89.53% 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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