ArcBest (NASDAQ:ARCB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “ArcBest Corporation provides freight transportation services and solutions. The company’s Freight Transportation segment offers transportation of general commodities; motor carrier freight transportation services; business-to-business air transportation services; ocean transport services; global customizable supply chain solutions and integrated warehousing services. Its Premium Logistics & Expedited Freight Services segment provides expedited freight transportation services to commercial and government customers; premium logistics services; and domestic and international freight transportation with air, ocean, and ground service. ArcBest Corporation, formerly known as Arkansas Best Corporation, is headquartered in Fort Smith, Arkansas. “

ARCB has been the subject of a number of other reports. Loop Capital upped their price target on ArcBest from $39.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, January 31st. Buckingham Research dropped their price target on ArcBest from $46.00 to $37.00 and set a “neutral” rating for the company in a research report on Thursday, April 11th. Cowen restated a “hold” rating and issued a $42.00 price target on shares of ArcBest in a research report on Thursday, January 31st. ValuEngine lowered ArcBest from a “hold” rating to a “sell” rating in a research report on Friday, March 15th. Finally, Bank of America reiterated an “underperform” rating and issued a $34.00 price objective (down from $45.00) on shares of ArcBest in a research report on Tuesday, March 12th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $40.89.

Shares of ARCB stock traded up $0.07 during trading hours on Wednesday, reaching $28.99. The company had a trading volume of 260,599 shares, compared to its average volume of 285,786. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.40 and a quick ratio of 1.40. The firm has a market capitalization of $709.78 million, a PE ratio of 7.51 and a beta of 2.07. ArcBest has a 12-month low of $27.72 and a 12-month high of $51.45.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings results on Thursday, May 2nd. The transportation company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.13). The company had revenue of $711.84 million during the quarter, compared to analysts’ expectations of $724.33 million. ArcBest had a net margin of 2.00% and a return on equity of 14.19%. ArcBest’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter last year, the company earned $0.29 earnings per share. On average, equities research analysts expect that ArcBest will post 3.51 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in ARCB. Quantamental Technologies LLC acquired a new stake in shares of ArcBest in the fourth quarter valued at $38,000. Federated Investors Inc. PA raised its stake in shares of ArcBest by 71.3% in the first quarter. Federated Investors Inc. PA now owns 1,552 shares of the transportation company’s stock valued at $48,000 after acquiring an additional 646 shares in the last quarter. Pearl River Capital LLC acquired a new stake in shares of ArcBest in the first quarter valued at $68,000. PNC Financial Services Group Inc. raised its stake in shares of ArcBest by 13.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,163 shares of the transportation company’s stock valued at $107,000 after acquiring an additional 375 shares in the last quarter. Finally, Neuburgh Advisers LLC raised its stake in shares of ArcBest by 15.1% in the fourth quarter. Neuburgh Advisers LLC now owns 3,520 shares of the transportation company’s stock valued at $121,000 after acquiring an additional 462 shares in the last quarter. Institutional investors own 93.35% 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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