ArcBest (ARCB) Downgraded by ValuEngine to Strong Sell

ArcBest (NASDAQ:ARCB) was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a report released on Tuesday, May 7th, ValuEngine reports.

Several other analysts have also weighed in on ARCB. BidaskClub raised ArcBest from a “hold” rating to a “buy” rating in a report on Friday, January 11th. Cowen reaffirmed a “hold” rating and issued a $42.00 price target on shares of ArcBest in a research note on Thursday, January 31st. Loop Capital boosted their price target on ArcBest from $39.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, January 31st. Zacks Investment Research lowered ArcBest from a “buy” rating to a “hold” rating in a research note on Monday, February 4th. Finally, Bank of America reaffirmed an “underperform” rating and issued a $34.00 price target (down previously from $45.00) on shares of ArcBest in a research note on Tuesday, March 12th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. ArcBest currently has a consensus rating of “Hold” and a consensus target price of $40.89.

Shares of NASDAQ:ARCB traded down $0.33 during trading on Tuesday, hitting $25.07. 175,062 shares of the stock were exchanged, compared to its average volume of 290,130. ArcBest has a 1-year low of $24.68 and a 1-year high of $51.45. The firm has a market capitalization of $641.15 million, a PE ratio of 6.53 and a beta of 2.07. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.39.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings data on Thursday, May 2nd. The transportation company reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.13). ArcBest had a return on equity of 14.19% and a net margin of 2.00%. The firm had revenue of $711.84 million for the quarter, compared to analyst estimates of $724.33 million. During the same period in the previous year, the business posted $0.29 EPS. ArcBest’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, sell-side analysts predict that ArcBest will post 3.39 EPS for the current year.

Hedge funds have recently made changes to their positions in the stock. Martingale Asset Management L P boosted its stake in ArcBest by 0.7% in the fourth quarter. Martingale Asset Management L P now owns 44,734 shares of the transportation company’s stock worth $1,533,000 after purchasing an additional 300 shares in the last quarter. Alpha Windward LLC boosted its stake in ArcBest by 3.1% in the fourth quarter. Alpha Windward LLC now owns 12,000 shares of the transportation company’s stock worth $411,000 after purchasing an additional 360 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in ArcBest by 13.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,163 shares of the transportation company’s stock worth $107,000 after purchasing an additional 375 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in ArcBest by 2.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 18,348 shares of the transportation company’s stock worth $629,000 after purchasing an additional 403 shares in the last quarter. Finally, California Public Employees Retirement System boosted its stake in ArcBest by 1.5% in the fourth quarter. California Public Employees Retirement System now owns 28,993 shares of the transportation company’s stock worth $993,000 after purchasing an additional 415 shares in the last quarter. 99.13% of the stock is currently owned by institutional investors and hedge funds.

About ArcBest

ArcBest Corporation provides freight transportation services and integrated logistics solutions worldwide. It operates through three segments: Asset-Based, ArcBest, and FleetNet. The Asset-Based segment transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, nonbulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products through less-than-truckload services.

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