ValuEngine Downgrades ArcBest Corporation (ARCB) to Hold

ArcBest Corporation (NASDAQ:ARCB) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Friday, November 10th.

A number of other equities analysts have also weighed in on ARCB. BidaskClub lowered ArcBest Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Cowen and Company restated a “buy” rating and issued a $29.00 target price on shares of ArcBest Corporation in a research note on Sunday, July 30th. TheStreet upgraded ArcBest Corporation from a “c” rating to a “b-” rating in a report on Friday, July 28th. Stifel Nicolaus reiterated a “hold” rating on shares of ArcBest Corporation in a report on Thursday, August 3rd. Finally, Deutsche Bank AG reiterated a “hold” rating and issued a $29.00 price objective (up from $26.00) on shares of ArcBest Corporation in a report on Wednesday, August 9th. One analyst has rated the stock with a sell rating and nine have issued a hold rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $30.86.

Shares of ArcBest Corporation (ARCB) opened at $35.05 on Friday. The stock has a market capitalization of $901.14, a price-to-earnings ratio of 28.58 and a beta of 1.78. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.26 and a current ratio of 1.26. ArcBest Corporation has a one year low of $16.95 and a one year high of $35.60.

ArcBest Corporation (NASDAQ:ARCB) last announced its earnings results on Friday, November 3rd. The transportation company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.01. The business had revenue of $744.30 million for the quarter, compared to analyst estimates of $750.16 million. ArcBest Corporation had a return on equity of 5.34% and a net margin of 0.88%. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.48 EPS. research analysts anticipate that ArcBest Corporation will post 1.28 earnings per share for the current year.

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In related news, VP Michael R. Johns sold 6,593 shares of the stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $29.98, for a total transaction of $197,658.14. Following the completion of the sale, the vice president now directly owns 35,700 shares in the company, valued at approximately $1,070,286. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven Spinner sold 4,000 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $32.00, for a total value of $128,000.00. Following the sale, the director now owns 24,700 shares of the company’s stock, valued at $790,400. The disclosure for this sale can be found here. Insiders have sold a total of 11,363 shares of company stock valued at $348,758 over the last 90 days. 0.97% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GSA Capital Partners LLP lifted its holdings in ArcBest Corporation by 36.7% in the 3rd quarter. GSA Capital Partners LLP now owns 44,326 shares of the transportation company’s stock worth $1,483,000 after buying an additional 11,905 shares during the period. Algert Global LLC purchased a new stake in ArcBest Corporation in the 3rd quarter worth approximately $2,824,000. California Public Employees Retirement System lifted its holdings in ArcBest Corporation by 29.2% in the 3rd quarter. California Public Employees Retirement System now owns 43,786 shares of the transportation company’s stock worth $1,465,000 after buying an additional 9,886 shares during the period. Cornerstone Capital Management Holdings LLC. purchased a new stake in ArcBest Corporation in the 3rd quarter worth approximately $2,180,000. Finally, Convergence Investment Partners LLC purchased a new stake in ArcBest Corporation in the 3rd quarter worth approximately $568,000. Institutional investors and hedge funds own 86.19% of the company’s stock.

About ArcBest Corporation

ArcBest Corporation is a holding company of businesses providing integrated logistics solutions. The Company operates through three segments: Asset-Based, which consists of ABF Freight System, Inc and other subsidiaries; ArcBest, which represents the consolidation of the operations of the Premium Logistics, Transportation Management and Household Goods Moving Services segments, and FleetNet, which includes the results of operations of FleetNet America, Inc (FleetNet).

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for ArcBest Corporation (NASDAQ:ARCB)

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