ArcBest (ARCB) – Investment Analysts’ Recent Ratings Changes

A number of research firms have changed their ratings and price targets for ArcBest (NASDAQ: ARCB):

  • 5/22/2019 – ArcBest was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 5/22/2019 – ArcBest was upgraded by analysts at Cowen Inc from a “market perform” rating to an “outperform” rating. They now have a $40.00 price target on the stock.
  • 5/15/2019 – ArcBest was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “ArcBest Corporation provides freight transportation services and solutions. The company’s Freight Transportation segment offers transportation of general commodities; motor carrier freight transportation services; business-to-business air transportation services; ocean transport services; global customizable supply chain solutions and integrated warehousing services. Its Premium Logistics & Expedited Freight Services segment provides expedited freight transportation services to commercial and government customers; premium logistics services; and domestic and international freight transportation with air, ocean, and ground service. ArcBest Corporation, formerly known as Arkansas Best Corporation, is headquartered in Fort Smith, Arkansas. “
  • 5/7/2019 – ArcBest was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating.
  • 5/6/2019 – ArcBest had its price target lowered by analysts at Buckingham Research from $37.00 to $36.00. They now have a “neutral” rating on the stock.
  • 5/6/2019 – ArcBest had its price target raised by analysts at Loop Capital to $34.00. They now have a “hold” rating on the stock.
  • 5/3/2019 – ArcBest had its “hold” rating reaffirmed by analysts at Cowen Inc. They now have a $40.00 price target on the stock.
  • 4/11/2019 – ArcBest had its price target lowered by analysts at Buckingham Research from $46.00 to $37.00. They now have a “neutral” rating on the stock.
  • 4/11/2019 – ArcBest had its price target lowered by analysts at Citigroup Inc from $45.00 to $36.00. They now have a “neutral” rating on the stock.
  • 4/5/2019 – ArcBest had its “neutral” rating reaffirmed by analysts at Seaport Global Securities.
  • 4/1/2019 – ArcBest was upgraded by analysts at Wolfe Research from an “underperform” rating to a “market perform” rating.

Shares of ARCB stock traded down $1.25 on Thursday, reaching $26.57. 388,841 shares of the company’s stock were exchanged, compared to its average volume of 290,163. ArcBest Corp has a 52 week low of $26.51 and a 52 week high of $51.45. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.40 and a current ratio of 1.40. The firm has a market capitalization of $708.50 million, a P/E ratio of 6.88 and a beta of 2.07.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings results on Thursday, May 2nd. The transportation company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.13). ArcBest had a net margin of 2.00% and a return on equity of 14.19%. The company had revenue of $711.84 million during the quarter, compared to analysts’ expectations of $724.33 million. During the same quarter last year, the company earned $0.29 earnings per share. ArcBest’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, sell-side analysts forecast that ArcBest Corp will post 3.44 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend is Monday, May 13th. ArcBest’s dividend payout ratio is presently 8.29%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARCB. Quantamental Technologies LLC acquired a new position in ArcBest during the fourth quarter worth $38,000. Federated Investors Inc. PA lifted its stake in ArcBest by 71.3% during the first quarter. Federated Investors Inc. PA now owns 1,552 shares of the transportation company’s stock worth $48,000 after purchasing an additional 646 shares in the last quarter. Pearl River Capital LLC acquired a new position in ArcBest during the first quarter worth $68,000. PNC Financial Services Group Inc. lifted its stake in ArcBest by 13.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,163 shares of the transportation company’s stock worth $107,000 after purchasing an additional 375 shares in the last quarter. Finally, Neuburgh Advisers LLC raised its stake in shares of ArcBest by 15.1% in the fourth quarter. Neuburgh Advisers LLC now owns 3,520 shares of the transportation company’s stock valued at $121,000 after acquiring an additional 462 shares in the last quarter. Hedge funds and other institutional investors own 98.42% 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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