ArcBest (NASDAQ:ARCB) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

A number of other analysts also recently weighed in on the company. Stifel Nicolaus restated a “hold” rating and issued a $46.00 target price on shares of ArcBest in a research report on Friday, August 3rd. Bank of America boosted their target price on ArcBest from $49.00 to $50.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 1st. Zacks Investment Research upgraded ArcBest from a “hold” rating to a “strong-buy” rating and set a $55.00 target price for the company in a research report on Tuesday, June 19th. Buckingham Research boosted their target price on ArcBest from $43.00 to $48.00 and gave the stock a “neutral” rating in a research report on Thursday, August 9th. Finally, Cowen boosted their target price on ArcBest from $41.00 to $46.00 and gave the stock a “market perform” rating in a research report on Thursday, August 2nd. Nine investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $44.25.

NASDAQ:ARCB opened at $46.15 on Tuesday. The company has a market capitalization of $1.30 billion, a P/E ratio of 34.70, a PEG ratio of 0.39 and a beta of 2.09. ArcBest has a 1-year low of $28.50 and a 1-year high of $51.45. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.30.

ArcBest (NASDAQ:ARCB) last released its earnings results on Tuesday, July 31st. The transportation company reported $1.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.13. The company had revenue of $793.35 million during the quarter, compared to the consensus estimate of $786.86 million. ArcBest had a return on equity of 9.88% and a net margin of 2.12%. equities analysts forecast that ArcBest will post 3.24 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the business. New York State Common Retirement Fund lifted its position in ArcBest by 3.0% in the first quarter. New York State Common Retirement Fund now owns 50,621 shares of the transportation company’s stock valued at $1,622,000 after purchasing an additional 1,480 shares during the last quarter. Legal & General Group Plc lifted its position in ArcBest by 3.2% in the first quarter. Legal & General Group Plc now owns 48,099 shares of the transportation company’s stock valued at $1,531,000 after purchasing an additional 1,503 shares during the last quarter. Meridian Investment Counsel Inc. lifted its position in ArcBest by 12.8% in the second quarter. Meridian Investment Counsel Inc. now owns 16,250 shares of the transportation company’s stock valued at $743,000 after purchasing an additional 1,840 shares during the last quarter. Koch Industries Inc. lifted its position in ArcBest by 27.9% in the first quarter. Koch Industries Inc. now owns 9,885 shares of the transportation company’s stock valued at $317,000 after purchasing an additional 2,157 shares during the last quarter. Finally, Swiss National Bank lifted its position in ArcBest by 5.2% in the second quarter. Swiss National Bank now owns 44,700 shares of the transportation company’s stock valued at $2,043,000 after purchasing an additional 2,200 shares during the last quarter. Hedge funds and other institutional investors own 94.66% of the company’s stock.

ArcBest Company Profile

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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Analyst Recommendations for ArcBest (NASDAQ:ARCB)

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