StockNews.com Downgrades ArcBest (NASDAQ:ARCB) to Sell

ArcBest (NASDAQ:ARCB) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report issued on Thursday.

Several other equities research analysts have also commented on ARCB. Truist Financial dropped their price target on ArcBest from $93.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Stifel Nicolaus cut their price target on shares of ArcBest from $102.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday. Citigroup reduced their price target on shares of ArcBest from $83.00 to $66.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Stephens reissued an “overweight” rating and issued a $116.00 price objective on shares of ArcBest in a research report on Tuesday, March 11th. Finally, Bank of America reduced their target price on shares of ArcBest from $100.00 to $73.00 and set an “underperform” rating on the stock in a report on Wednesday, March 12th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, ArcBest presently has a consensus rating of “Hold” and an average target price of $88.75.

ArcBest Trading Up 7.3 %

NASDAQ ARCB opened at $62.01 on Thursday. The company has a 50-day moving average of $68.08 and a 200-day moving average of $89.98. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.04. ArcBest has a 12 month low of $55.19 and a 12 month high of $129.83. The company has a market cap of $1.44 billion, a P/E ratio of 8.46, a P/E/G ratio of 1.70 and a beta of 1.70.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings results on Tuesday, April 29th. The transportation company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The company had revenue of $967.08 million during the quarter, compared to analyst estimates of $990.03 million. ArcBest had a net margin of 4.16% and a return on equity of 11.79%. The firm’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.34 EPS. As a group, equities analysts predict that ArcBest will post 7 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO John Matthew Beasley bought 700 shares of the company’s stock in a transaction dated Thursday, March 13th. The stock was bought at an average price of $74.89 per share, with a total value of $52,423.00. Following the transaction, the chief financial officer now owns 8,142 shares of the company’s stock, valued at approximately $609,754.38. This trade represents a 9.41 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 1.28% of the stock is owned by company insiders.

Hedge Funds Weigh In On ArcBest

Large investors have recently modified their holdings of the stock. Signaturefd LLC lifted its holdings in ArcBest by 477.6% during the 1st quarter. Signaturefd LLC now owns 387 shares of the transportation company’s stock worth $27,000 after buying an additional 320 shares during the last quarter. Blue Trust Inc. raised its position in shares of ArcBest by 146.3% during the 4th quarter. Blue Trust Inc. now owns 298 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 177 shares in the last quarter. CWM LLC lifted its stake in ArcBest by 338.8% during the first quarter. CWM LLC now owns 452 shares of the transportation company’s stock worth $32,000 after purchasing an additional 349 shares during the last quarter. R Squared Ltd acquired a new position in ArcBest in the fourth quarter worth $40,000. Finally, Smartleaf Asset Management LLC increased its stake in ArcBest by 471.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 549 shares of the transportation company’s stock valued at $51,000 after purchasing an additional 453 shares during the last quarter. Institutional investors own 99.27% of the company’s stock.

ArcBest Company Profile

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.