ArcBest (NASDAQ:ARCB) Receives New Coverage from Analysts at StockNews.com

Stock analysts at StockNews.com initiated coverage on shares of ArcBest (NASDAQ:ARCB – Get Rating) in a report released on Thursday. The brokerage set a “hold” rating on the transportation company’s stock.

Several other analysts have also recently issued reports on the stock. Citigroup increased their price target on shares of ArcBest from $90.00 to $116.00 and gave the stock a “buy” rating in a research report on Thursday, March 2nd. Cowen upped their target price on shares of ArcBest from $124.00 to $127.00 in a research note on Monday, February 6th. Morgan Stanley restated an “overweight” rating and set a $138.00 target price on shares of ArcBest in a research note on Monday, February 13th. Finally, Credit Suisse Group upped their target price on shares of ArcBest from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, February 6th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, ArcBest currently has a consensus rating of “Moderate Buy” and a consensus target price of $117.38.

ArcBest Stock Down 5.3 %

Shares of ARCB opened at $88.48 on Thursday. The stock has a market capitalization of $2.15 billion, a PE ratio of 7.59 and a beta of 1.58. ArcBest has a 1 year low of $65.15 and a 1 year high of $104.87. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.29 and a current ratio of 1.29. The company’s 50-day simple moving average is $91.30 and its 200-day simple moving average is $81.58.

ArcBest (NASDAQ:ARCB – Get Rating) last issued its quarterly earnings results on Friday, February 3rd. The transportation company reported $2.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.64 by ($0.19). The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.25 billion. ArcBest had a return on equity of 32.17% and a net margin of 5.60%. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.79 EPS. Analysts forecast that ArcBest will post 10.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ArcBest

Several hedge funds have recently added to or reduced their stakes in the stock. Captrust Financial Advisors increased its stake in ArcBest by 3.5% in the second quarter. Captrust Financial Advisors now owns 3,976 shares of the transportation company’s stock valued at $280,000 after purchasing an additional 136 shares during the last quarter. SummerHaven Investment Management LLC increased its stake in ArcBest by 1.4% in the fourth quarter. SummerHaven Investment Management LLC now owns 10,223 shares of the transportation company’s stock valued at $716,000 after purchasing an additional 137 shares during the last quarter. Royal Bank of Canada increased its stake in ArcBest by 14.0% in the third quarter. Royal Bank of Canada now owns 1,297 shares of the transportation company’s stock valued at $95,000 after purchasing an additional 159 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of ArcBest by 0.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 20,026 shares of the transportation company’s stock worth $1,403,000 after acquiring an additional 168 shares during the last quarter. Finally, Lazard Asset Management LLC grew its position in shares of ArcBest by 9.1% during the fourth quarter. Lazard Asset Management LLC now owns 2,005 shares of the transportation company’s stock worth $140,000 after acquiring an additional 168 shares during the last quarter. 88.59% of the stock is currently owned by hedge funds and other institutional investors.

About ArcBest

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ArcBest Corp. is a logistics company which provides end-to-end supply chain services with a focus on innovation. It operates through the following business segments: Asset-Based, ArcBest and FleetNet. The Asset-Based segment includes national, inter-regional, and regional transportation of general commodities through standard, expedited, and guaranteed less-than-truckload services.