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. “
A number of other brokerages have also commented on ARCB. Buckingham Research assumed coverage on shares of ArcBest Corp. in a report on Friday, September 23rd. They issued a buy rating and a $24.00 price objective on the stock. Citigroup Inc. upped their target price on shares of ArcBest Corp. from $17.00 to $20.00 and gave the company a neutral rating in a research note on Thursday, September 8th. Finally, Deutsche Bank AG set a $20.00 target price on shares of ArcBest Corp. and gave the company a hold rating in a research note on Thursday, July 21st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $22.07.
ArcBest Corp. (NASDAQ:ARCB) opened at 19.02 on Wednesday. The firm has a market capitalization of $489.75 million, a PE ratio of 17.84 and a beta of 1.66. The firm’s 50-day moving average price is $18.55 and its 200-day moving average price is $18.48. ArcBest Corp. has a 1-year low of $14.85 and a 1-year high of $28.80.
ArcBest Corp. (NASDAQ:ARCB) last issued its quarterly earnings data on Friday, July 29th. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by $0.05. ArcBest Corp. had a return on equity of 5.02% and a net margin of 1.06%. The firm earned $676.60 million during the quarter, compared to analyst estimates of $683.12 million. During the same quarter in the prior year, the firm earned $0.75 EPS. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, equities research analysts predict that ArcBest Corp. will post $0.90 EPS for the current fiscal year.
Large investors have recently made changes to their positions in the stock. BlackRock Fund Advisors increased its stake in shares of ArcBest Corp. by 5.0% in the second quarter. BlackRock Fund Advisors now owns 1,643,201 shares of the company’s stock worth $26,702,000 after buying an additional 77,941 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of ArcBest Corp. by 3.4% in the second quarter. JPMorgan Chase & Co. now owns 1,591,203 shares of the company’s stock worth $25,856,000 after buying an additional 52,043 shares in the last quarter. State of Wisconsin Investment Board increased its stake in shares of ArcBest Corp. by 5.8% in the second quarter. State of Wisconsin Investment Board now owns 1,119,578 shares of the company’s stock worth $18,193,000 after buying an additional 60,900 shares in the last quarter. Towle & Co. increased its stake in shares of ArcBest Corp. by 126.6% in the second quarter. Towle & Co. now owns 778,326 shares of the company’s stock worth $12,648,000 after buying an additional 434,810 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its stake in shares of ArcBest Corp. by 10.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 712,308 shares of the company’s stock worth $11,575,000 after buying an additional 66,154 shares in the last quarter. 84.52% of the stock is owned by institutional investors and hedge funds.
About ArcBest Corp.
ArcBest Corporation is a holding company of businesses providing freight transportation services and logistics solutions. The Company operates through five segments: Freight Transportation (ABF Freight) segment, Premium Logistics (Panther), Transportation Management (ABF Logistics), Emergency & Preventative Maintenance (FleetNet) and Household Goods Moving Services (ABF Moving).
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