ArcBest (ARCB) Downgraded to “Hold” at Zacks Investment Research

ArcBest (NASDAQ:ARCB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Monday.

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. “

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Several other equities research analysts also recently weighed in on the stock. Stephens reaffirmed a “hold” rating and set a $37.00 target price on shares of ArcBest in a research note on Thursday, April 12th. BidaskClub raised shares of ArcBest from a “sell” rating to a “hold” rating in a research note on Friday, April 6th. Stifel Nicolaus raised shares of ArcBest from a “sell” rating to a “hold” rating and cut their target price for the stock from $35.00 to $32.00 in a research note on Monday, April 2nd. ValuEngine raised shares of ArcBest from a “hold” rating to a “buy” rating in a research note on Saturday, March 10th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $32.00 target price (up from $23.00) on shares of ArcBest in a research note on Wednesday, February 21st. Eleven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. ArcBest has an average rating of “Hold” and an average price target of $34.78.

Shares of ArcBest stock traded up $0.35 on Monday, reaching $34.10. The company had a trading volume of 187,327 shares, compared to its average volume of 314,461. The company has a market capitalization of $865.40, a price-to-earnings ratio of 25.64, a price-to-earnings-growth ratio of 0.44 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 quick ratio of 1.30 and a current ratio of 1.30.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings results on Wednesday, January 31st. The transportation company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.07. ArcBest had a net margin of 2.11% and a return on equity of 5.82%. The business had revenue of $710.72 million for the quarter, compared to the consensus estimate of $723.69 million. During the same period in the previous year, the firm earned $0.28 EPS. The business’s revenue was up 3.3% on a year-over-year basis. equities analysts expect that ArcBest will post 2.32 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of ARCB. Goldman Sachs Group Inc. grew its holdings in ArcBest by 22.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 681,535 shares of the transportation company’s stock worth $24,365,000 after acquiring an additional 126,959 shares in the last quarter. Acadian Asset Management LLC grew its holdings in ArcBest by 80.6% during the 4th quarter. Acadian Asset Management LLC now owns 227,651 shares of the transportation company’s stock worth $8,139,000 after acquiring an additional 101,593 shares in the last quarter. Cornerstone Capital Management Holdings LLC. grew its holdings in ArcBest by 125.3% during the 4th quarter. Cornerstone Capital Management Holdings LLC. now owns 146,900 shares of the transportation company’s stock worth $5,251,000 after acquiring an additional 81,700 shares in the last quarter. Spark Investment Management LLC grew its holdings in ArcBest by 41.5% during the 4th quarter. Spark Investment Management LLC now owns 174,300 shares of the transportation company’s stock worth $6,231,000 after acquiring an additional 51,100 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in ArcBest by 52.0% during the 4th quarter. Millennium Management LLC now owns 145,821 shares of the transportation company’s stock worth $5,213,000 after acquiring an additional 49,894 shares in the last quarter. Institutional investors own 88.95% of the company’s stock.

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About ArcBest

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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