ArcBest Corporation (NASDAQ:ARCB)‘s stock had its “hold” rating reissued by Deutsche Bank AG in a research note issued to investors on Wednesday. They currently have a $29.00 price objective on the transportation company’s stock, up from their previous price objective of $26.00. Deutsche Bank AG’s price target would suggest a potential upside of 10.90% from the company’s previous close.
A number of other research analysts have also recently issued reports on the company. Zacks Investment Research cut ArcBest Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, April 25th. Cowen and Company lifted their price objective on ArcBest Corporation from $24.00 to $27.00 and gave the company an “outperform” rating in a research note on Monday, May 8th. TheStreet upgraded ArcBest Corporation from a “c” rating to a “b-” rating in a research note on Friday, July 28th. Stifel Nicolaus reiterated a “hold” rating on shares of ArcBest Corporation in a research note on Thursday, August 3rd. Finally, BidaskClub cut ArcBest Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $27.00.
ArcBest Corporation (ARCB) traded up 1.3406% during mid-day trading on Wednesday, reaching $26.4499. The company had a trading volume of 54,320 shares. The firm has a market capitalization of $679.50 million, a P/E ratio of 30.5779 and a beta of 1.62. ArcBest Corporation has a one year low of $16.95 and a one year high of $33.95. The firm’s 50-day moving average is $21.96 and its 200-day moving average is $24.81.
ArcBest Corporation (NASDAQ:ARCB) last issued its quarterly earnings data on Friday, July 28th. The transportation company reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.09. The firm had revenue of $720.40 million for the quarter, compared to analyst estimates of $721.11 million. ArcBest Corporation had a return on equity of 4.92% and a net margin of 0.83%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the company earned $0.38 EPS. On average, equities research analysts anticipate that ArcBest Corporation will post $1.31 earnings per share for the current fiscal year.
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In other ArcBest Corporation news, insider Daniel E. Loe sold 9,929 shares of ArcBest Corporation stock in a transaction on Friday, August 4th. The stock was sold at an average price of $25.87, for a total value of $256,863.23. Following the completion of the sale, the insider now owns 33,600 shares of the company’s stock, valued at approximately $869,232. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.97% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of ARCB. BlackRock Inc. raised its stake in shares of ArcBest Corporation by 18,670.6% in the first quarter. BlackRock Inc. now owns 3,328,407 shares of the transportation company’s stock valued at $86,539,000 after buying an additional 3,310,675 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of ArcBest Corporation by 41.7% in the first quarter. Bank of New York Mellon Corp now owns 1,056,395 shares of the transportation company’s stock valued at $27,467,000 after buying an additional 310,688 shares during the last quarter. Netols Asset Management Inc. purchased a new stake in shares of ArcBest Corporation during the first quarter valued at approximately $4,954,000. Vanguard Group Inc. raised its stake in shares of ArcBest Corporation by 6.2% in the first quarter. Vanguard Group Inc. now owns 2,133,187 shares of the transportation company’s stock valued at $55,462,000 after buying an additional 124,009 shares during the last quarter. Finally, Eagle Boston Investment Management Inc. raised its stake in shares of ArcBest Corporation by 39.4% in the second quarter. Eagle Boston Investment Management Inc. now owns 299,844 shares of the transportation company’s stock valued at $6,176,000 after buying an additional 84,764 shares during the last quarter. 86.35% of the stock is owned by institutional investors and hedge funds.
About ArcBest Corporation
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).
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