Stephens restated their hold rating on shares of ArcBest (NASDAQ:ARCB) in a research note released on Thursday. The brokerage currently has a $37.00 target price on the transportation company’s stock.
Several other research firms have also recently issued reports on ARCB. Stifel Nicolaus cut shares of ArcBest from a hold rating to a sell rating and increased their price target for the stock from $27.00 to $32.00 in a report on Wednesday, December 13th. Zacks Investment Research raised shares of ArcBest from a hold rating to a strong-buy rating and set a $44.00 price target for the company in a report on Monday, January 22nd. Seaport Global Securities reissued a neutral rating on shares of ArcBest in a report on Tuesday, January 16th. BidaskClub cut shares of ArcBest from a buy rating to a hold rating in a report on Wednesday, January 10th. Finally, Cowen reissued a market perform rating and set a $39.00 price target (up from $33.00) on shares of ArcBest in a report on Thursday, February 1st. Ten analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. ArcBest presently has an average rating of Hold and a consensus target price of $34.78.
NASDAQ ARCB opened at $32.35 on Thursday. The stock has a market cap of $846.17, a P/E ratio of 24.32 and a beta of 1.76. ArcBest has a 52-week low of $16.95 and a 52-week high of $39.70. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.30 and a quick ratio of 1.30.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. grew its position in ArcBest by 5.5% during the fourth quarter. Victory Capital Management Inc. now owns 45,056 shares of the transportation company’s stock worth $1,611,000 after buying an additional 2,351 shares during the period. Legal & General Group Plc grew its position in ArcBest by 6.5% during the third quarter. Legal & General Group Plc now owns 47,022 shares of the transportation company’s stock worth $1,573,000 after buying an additional 2,875 shares during the period. Wells Fargo & Company MN grew its position in ArcBest by 10.8% during the third quarter. Wells Fargo & Company MN now owns 30,475 shares of the transportation company’s stock worth $1,019,000 after buying an additional 2,974 shares during the period. Elkfork Partners LLC acquired a new position in ArcBest during the fourth quarter worth about $113,000. Finally, Leucadia National Corp grew its position in ArcBest by 13.2% during the fourth quarter. Leucadia National Corp now owns 27,619 shares of the transportation company’s stock worth $987,000 after buying an additional 3,226 shares during the period. Institutional investors own 88.61% of the company’s stock.
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.
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.