ArcBest (NASDAQ:ARCB)‘s stock had its “hold” rating reissued by equities research analysts at Stephens in a research report issued on Thursday. They presently have a $37.00 price target on the transportation company’s stock. Stephens’ price target would suggest a potential upside of 11.78% from the stock’s current price.
A number of other equities analysts also recently weighed in on the company. Stifel Nicolaus downgraded ArcBest from a “hold” rating to a “sell” rating and upped their price target for the stock from $27.00 to $32.00 in a research report on Wednesday, December 13th. Zacks Investment Research raised ArcBest from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research report on Tuesday, January 16th. Citigroup upped their price target on ArcBest from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 6th. Morgan Stanley reaffirmed an “equal weight” rating and set a $32.00 price target (up previously from $23.00) on shares of ArcBest in a research report on Wednesday, February 21st. Finally, BidaskClub downgraded ArcBest from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Ten investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. ArcBest currently has an average rating of “Hold” and a consensus target price of $34.78.
NASDAQ:ARCB traded up $0.50 during trading hours on Thursday, reaching $33.10. 158,731 shares of the stock were exchanged, compared to its average volume of 312,742. ArcBest has a twelve month low of $16.95 and a twelve month high of $39.70. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.32. The company has a market cap of $842.32, a P/E ratio of 24.89 and a beta of 1.76.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARCB. Elkfork Partners LLC acquired a new stake in shares of ArcBest in the 4th quarter valued at approximately $113,000. ETRADE Capital Management LLC acquired a new stake in shares of ArcBest in the 4th quarter valued at approximately $210,000. PEAK6 Investments L.P. acquired a new stake in shares of ArcBest in the 4th quarter valued at approximately $231,000. Stone Ridge Asset Management LLC acquired a new stake in shares of ArcBest in the 4th quarter valued at approximately $243,000. Finally, Koch Industries Inc. acquired a new stake in shares of ArcBest in the 4th quarter valued at approximately $276,000. 88.61% of the stock is owned by institutional investors.
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ArcBest Company Profile
ArcBest Corporation is a holding company of businesses providing integrated logistics solutions. The Company operates through three segments: Asset-Based, which consists of ABF Freight System, Inc and other subsidiaries; ArcBest, which represents the consolidation of the operations of the Premium Logistics, Transportation Management and Household Goods Moving Services segments, and FleetNet, which includes the results of operations of FleetNet America, Inc (FleetNet).
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