ArcBest (NASDAQ:ARCB) Stock Passes Below 200 Day Moving Average of $0.00

ArcBest Corp (NASDAQ:ARCB) crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $0.00 and traded as low as $27.41. ArcBest shares last traded at $27.86, with a volume of 3,880 shares.

ARCB has been the subject of several recent analyst reports. Bank of America reiterated an “underperform” rating and issued a $34.00 target price (down previously from $45.00) on shares of ArcBest in a research note on Tuesday, March 12th. ValuEngine lowered shares of ArcBest from a “hold” rating to a “sell” rating in a research note on Friday, March 15th. BidaskClub lowered shares of ArcBest from a “hold” rating to a “sell” rating in a research note on Friday, March 22nd. Wolfe Research upgraded shares of ArcBest from an “underperform” rating to a “market perform” rating in a research note on Monday, April 1st. Finally, Seaport Global Securities reiterated a “neutral” rating on shares of ArcBest in a research note on Friday, April 5th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $39.13.

The company has a market cap of $717.17 million, a P/E ratio of 7.52 and a beta of 2.10. The business’s 50-day moving average price is $26.79. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.40 and a current ratio of 1.40.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings results 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). The company had revenue of $711.84 million for the quarter, compared to the consensus estimate of $724.33 million. ArcBest had a net margin of 2.00% and a return on equity of 14.19%. ArcBest’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.29 EPS. As a group, sell-side analysts forecast that ArcBest Corp will post 3.36 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Pearl River Capital LLC bought a new position in ArcBest during the first quarter valued at about $68,000. PNC Financial Services Group Inc. grew its position in ArcBest by 13.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,163 shares of the transportation company’s stock valued at $107,000 after buying an additional 375 shares during the period. Neuburgh Advisers LLC grew its position in ArcBest by 15.1% during the fourth quarter. Neuburgh Advisers LLC now owns 3,520 shares of the transportation company’s stock valued at $121,000 after buying an additional 462 shares during the period. NumerixS Investment Technologies Inc bought a new position in ArcBest during the first quarter valued at about $122,000. Finally, Flinton Capital Management LLC grew its position in ArcBest by 15.1% during the fourth quarter. Flinton Capital Management LLC now owns 5,440 shares of the transportation company’s stock valued at $186,000 after buying an additional 714 shares during the period. Institutional investors own 98.77% of the company’s stock.

About ArcBest (NASDAQ:ARCB)

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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