ArcBest (NASDAQ:ARCB) Stock Rating Lowered by StockNews.com

ArcBest (NASDAQ:ARCB) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report released on Thursday.

Other equities research analysts have also issued reports about the company. Morgan Stanley upped their price objective on ArcBest from $155.00 to $175.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. JPMorgan Chase & Co. dropped their price objective on ArcBest from $164.00 to $145.00 and set an “overweight” rating for the company in a research note on Wednesday. The Goldman Sachs Group upped their target price on shares of ArcBest from $133.00 to $149.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. UBS Group cut their price target on shares of ArcBest from $150.00 to $126.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Stifel Nicolaus upped their price objective on shares of ArcBest from $153.00 to $159.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, ArcBest has an average rating of “Moderate Buy” and a consensus price target of $143.38.

ArcBest Stock Performance

Shares of ARCB traded up $2.18 on Thursday, reaching $114.85. 378,673 shares of the stock traded hands, compared to its average volume of 399,728. The firm has a market cap of $2.70 billion, a price-to-earnings ratio of 23.11, a P/E/G ratio of 0.52 and a beta of 1.56. ArcBest has a 12 month low of $82.18 and a 12 month high of $153.60. The stock’s 50-day moving average price is $137.54 and its 200-day moving average price is $125.62. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.23 and a quick ratio of 1.26.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings data on Tuesday, April 30th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.19). ArcBest had a net margin of 2.80% and a return on equity of 15.27%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the company posted $1.58 EPS. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. Equities analysts forecast that ArcBest will post 9.43 EPS for the current fiscal year.

Insider Buying and Selling at ArcBest

In other news, insider Erin K. Gattis sold 2,000 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $141.58, for a total value of $283,160.00. Following the completion of the sale, the insider now directly owns 32,247 shares of the company’s stock, valued at approximately $4,565,530.26. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.65% of the company’s stock.

Institutional Trading of ArcBest

Hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC grew its stake in ArcBest by 49.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 227 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 75 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 worth $27,000 after acquiring an additional 78 shares during the period. Allworth Financial LP lifted its position in ArcBest by 15,450.0% in the 3rd quarter. Allworth Financial LP now owns 311 shares of the transportation company’s stock valued at $32,000 after acquiring an additional 309 shares in the last quarter. GAMMA Investing LLC acquired a new position in ArcBest in the 4th quarter worth $39,000. Finally, Parallel Advisors LLC increased its holdings in ArcBest by 45.8% during the 4th quarter. Parallel Advisors LLC now owns 363 shares of the transportation company’s stock worth $44,000 after purchasing an additional 114 shares in the last quarter. Institutional investors and hedge funds 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.