ArcBest (ARCB) Downgraded by BidaskClub

BidaskClub cut shares of ArcBest (NASDAQ:ARCB) from a sell rating to a strong sell rating in a research note issued to investors on Wednesday, BidAskClub reports.

Several other research firms have also recently weighed in on ARCB. Loop Capital raised their target price on shares of ArcBest from $39.00 to $40.00 and gave the company a neutral rating in a research note on Thursday, January 31st. Wolfe Research raised shares of ArcBest from an underperform rating to a market perform rating in a research note on Monday, April 1st. Cowen reaffirmed a hold rating and set a $40.00 target price on shares of ArcBest in a research note on Friday, May 3rd. Citigroup dropped their price objective on shares of ArcBest from $45.00 to $36.00 and set a neutral rating for the company in a research note on Thursday, April 11th. Finally, ValuEngine cut shares of ArcBest from a sell rating to a strong sell rating in a research note on Tuesday, May 7th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The stock has an average rating of Hold and an average target price of $40.89.

ARCB opened at $26.43 on Wednesday. The firm has a market cap of $674.31 million, a P/E ratio of 6.85 and a beta of 2.07. ArcBest has a fifty-two week low of $26.13 and a fifty-two week high of $51.45. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.40 and a quick ratio of 1.40.

ArcBest (NASDAQ:ARCB) last posted its earnings results on Thursday, May 2nd. The transportation company reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.13). The company had revenue of $711.84 million for the quarter, compared to analysts’ expectations of $724.33 million. ArcBest had a net margin of 2.00% and a return on equity of 14.19%. The business’s revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.29 earnings per share. As a group, research analysts predict that ArcBest 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. Shareholders of record on Tuesday, May 14th will be paid a $0.08 dividend. The ex-dividend date is Monday, May 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.21%. ArcBest’s payout ratio is currently 8.29%.

Several large investors have recently modified their holdings of ARCB. Quantamental Technologies LLC purchased a new position in shares of ArcBest during the 4th quarter worth about $38,000. Federated Investors Inc. PA lifted its holdings in ArcBest by 71.3% during the 1st quarter. Federated Investors Inc. PA now owns 1,552 shares of the transportation company’s stock valued at $48,000 after buying an additional 646 shares in the last quarter. Pearl River Capital LLC bought a new stake in ArcBest during the 1st quarter valued at about $68,000. PNC Financial Services Group Inc. lifted its holdings in ArcBest by 13.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,163 shares of the transportation company’s stock valued at $107,000 after buying an additional 375 shares in the last quarter. Finally, Neuburgh Advisers LLC lifted its holdings in ArcBest by 15.1% during the 4th quarter. Neuburgh Advisers LLC now owns 3,520 shares of the transportation company’s stock valued at $121,000 after buying an additional 462 shares in the last quarter. 98.42% of the stock is owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for ArcBest (NASDAQ:ARCB)

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