ArcBest (NASDAQ:ARCB) Upgraded at StockNews.com

ArcBest (NASDAQ:ARCB) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

A number of other equities analysts have also recently issued reports on ARCB. JPMorgan Chase & Co. lowered their price objective on shares of ArcBest from $134.00 to $133.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. TD Cowen lowered their price target on shares of ArcBest from $136.00 to $131.00 and set a “buy” rating for the company in a report on Thursday, September 5th. Wells Fargo & Company cut ArcBest from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $122.00 to $112.00 in a research note on Wednesday, September 4th. Bank of America reduced their price objective on ArcBest from $102.00 to $99.00 and set an “underperform” rating on the stock in a research report on Wednesday, September 4th. Finally, Stephens reiterated an “overweight” rating and issued a $130.00 target price on shares of ArcBest in a research report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $133.18.

ArcBest Trading Down 2.0 %

Shares of ARCB stock opened at $101.90 on Thursday. ArcBest has a fifty-two week low of $86.93 and a fifty-two week high of $153.60. The stock’s fifty day moving average price is $108.42 and its two-hundred day moving average price is $116.22. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.19 and a current ratio of 1.19. The company has a market cap of $2.39 billion, a PE ratio of 20.50, a P/E/G ratio of 1.37 and a beta of 1.46.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings data on Friday, August 2nd. The transportation company reported $1.98 earnings per share for the quarter, missing the consensus estimate of $2.03 by ($0.05). The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.06 billion. ArcBest had a net margin of 2.96% and a return on equity of 15.98%. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period last year, the business earned $1.54 earnings per share. Equities analysts predict that ArcBest will post 7.21 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Salvatore A. Abbate acquired 1,000 shares of ArcBest stock in a transaction dated Monday, August 12th. The shares were bought at an average cost of $103.93 per share, with a total value of $103,930.00. Following the purchase, the director now owns 3,650 shares in the company, valued at approximately $379,344.50. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 1.65% of the stock is owned by insiders.

Institutional Investors Weigh In On ArcBest

Several institutional investors and hedge funds have recently made changes to their positions in ARCB. Quarry LP lifted its position in shares of ArcBest by 120.7% during the 2nd quarter. Quarry LP now owns 245 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 134 shares during the period. Contravisory Investment Management Inc. raised its holdings in shares of ArcBest by 70.9% during the first quarter. Contravisory Investment Management Inc. now owns 188 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 78 shares during the period. Innealta Capital LLC bought a new position in shares of ArcBest during the 2nd quarter worth about $33,000. Quest Partners LLC acquired a new stake in shares of ArcBest in the 2nd quarter valued at about $36,000. Finally, Cultivar Capital Inc. acquired a new position in ArcBest during the 2nd quarter worth approximately $43,000. Institutional investors own 99.27% of the company’s stock.

About ArcBest

ArcBest Corporation, an integrated logistics company, engages in the provision of ground, air, and ocean transportation solutions. It operates through two segments: Asset-Based and Asset-Light. The Asset-Based segment provides less-than-truckload (LTL) services, that transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, non-bulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products.