ArcBest Corporation (NASDAQ:ARCB) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Friday.

Several other brokerages have also recently weighed in on ARCB. TheStreet raised shares of ArcBest Corporation from a “c” rating to a “b-” rating in a research report on Friday, July 28th. Cowen and Company reaffirmed a “buy” rating and issued a $29.00 price target on shares of ArcBest Corporation in a research report on Sunday, July 30th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $29.00 price target (up previously from $26.00) on shares of ArcBest Corporation in a research report on Wednesday, August 9th. Buckingham Research began coverage on shares of ArcBest Corporation in a research report on Monday, August 21st. They issued a “neutral” rating and a $29.00 price target for the company. Finally, Stifel Nicolaus reaffirmed a “hold” rating on shares of ArcBest Corporation in a research report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $28.00.

Shares of ArcBest Corporation (NASDAQ ARCB) traded up 1.18% during trading on Friday, hitting $30.05. 147,020 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $25.31 and a 200-day moving average price of $24.15. The stock has a market cap of $772.47 million, a P/E ratio of 34.74 and a beta of 1.62. ArcBest Corporation has a one year low of $16.95 and a one year high of $33.95.

ArcBest Corporation (NASDAQ:ARCB) last announced its quarterly earnings results on Friday, July 28th. The transportation company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.09. ArcBest Corporation had a net margin of 0.83% and a return on equity of 4.92%. The firm had revenue of $720.40 million during the quarter, compared to analysts’ expectations of $721.11 million. During the same quarter in the prior year, the company earned $0.38 EPS. The company’s revenue was up 6.5% compared to the same quarter last year. Equities research analysts expect that ArcBest Corporation will post $1.31 EPS for the current fiscal year.

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In related news, COO James A. Ingram sold 6,918 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $27.14, for a total transaction of $187,754.52. Following the completion of the sale, the chief operating officer now owns 43,500 shares of the company’s stock, valued at $1,180,590. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel E. Loe sold 9,929 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $25.87, for a total transaction of $256,863.23. Following the sale, the insider now directly owns 33,600 shares of the company’s stock, valued at approximately $869,232. The disclosure for this sale can be found here. Corporate insiders own 0.97% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Pacad Investment Ltd. boosted its stake in ArcBest Corporation by 34.1% in the second quarter. Pacad Investment Ltd. now owns 5,900 shares of the transportation company’s stock worth $122,000 after buying an additional 1,500 shares during the last quarter. Mason Street Advisors LLC boosted its stake in ArcBest Corporation by 7.0% in the first quarter. Mason Street Advisors LLC now owns 5,569 shares of the transportation company’s stock worth $145,000 after buying an additional 362 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in ArcBest Corporation by 61.6% in the second quarter. BNP Paribas Arbitrage SA now owns 7,757 shares of the transportation company’s stock worth $160,000 after buying an additional 2,957 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in ArcBest Corporation by 1.0% in the second quarter. Louisiana State Employees Retirement System now owns 9,800 shares of the transportation company’s stock worth $202,000 after buying an additional 100 shares during the last quarter. Finally, Stephens Inc. AR boosted its stake in ArcBest Corporation by 0.7% in the first quarter. Stephens Inc. AR now owns 8,728 shares of the transportation company’s stock worth $227,000 after buying an additional 60 shares during the last quarter. 85.83% of the stock is owned by institutional investors.

About ArcBest Corporation

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).

Analyst Recommendations for ArcBest Corporation (NASDAQ:ARCB)

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