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. “
ARCB has been the topic of a number of other reports. Buckingham Research initiated coverage on ArcBest Corp. in a research note on Friday, September 23rd. They set a buy rating and a $24.00 price target on the stock. Citigroup Inc. cut their price objective on ArcBest Corp. from $20.00 to $17.00 and set a neutral rating on the stock in a research note on Monday, July 11th. Finally, Deutsche Bank AG set a $20.00 price objective on ArcBest Corp. and gave the stock a hold rating in a research note on Thursday, July 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. The stock has an average rating of Hold and an average target price of $22.07.
ArcBest Corp. (NASDAQ:ARCB) opened at 20.88 on Wednesday. ArcBest Corp. has a 52 week low of $14.85 and a 52 week high of $28.80. The stock’s 50 day moving average is $19.02 and its 200 day moving average is $18.32. The company has a market capitalization of $537.64 million, a PE ratio of 19.59 and a beta of 1.66.
ArcBest Corp. (NASDAQ:ARCB) last announced its quarterly earnings results on Friday, July 29th. The company reported $0.38 EPS for the quarter, missing the Zacks’ consensus estimate of $0.43 by $0.05. ArcBest Corp. had a net margin of 1.06% and a return on equity of 5.02%. The firm had revenue of $676.60 million for the quarter, compared to analyst estimates of $683.12 million. During the same period in the previous year, the business posted $0.75 earnings per share. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. Analysts predict that ArcBest Corp. will post $0.90 EPS for the current fiscal year.
Several institutional investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA boosted its position in ArcBest Corp. by 99.0% in the second quarter. BNP Paribas Arbitrage SA now owns 7,990 shares of the company’s stock worth $130,000 after buying an additional 3,974 shares during the last quarter. Pacad Investment Ltd. acquired a new position in ArcBest Corp. during the second quarter worth about $172,000. Paloma Partners Management Co acquired a new position in ArcBest Corp. during the second quarter worth about $177,000. Thrivent Financial for Lutherans boosted its position in ArcBest Corp. by 3.3% in the second quarter. Thrivent Financial for Lutherans now owns 11,520 shares of the company’s stock worth $187,000 after buying an additional 370 shares during the last quarter. Finally, Quantitative Investment Management LLC acquired a new position in ArcBest Corp. during the second quarter worth about $196,000. Hedge funds and other institutional investors own 84.52% of the company’s stock.
ArcBest Corp. Company Profile
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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