Weiss Ratings Reiterates Hold (C-) Rating for ArcBest (NASDAQ:ARCB)

Key Points

• Weiss Ratings has reiterated a "hold (C-)" rating for ArcBest (NASDAQ:ARCB) in a recent report, indicating a cautious outlook on the company's stock performance.
• Several analysts have adjusted their ratings and price targets for ArcBest, with TD Cowen lowering the target from $72.00 to $67.00 and Citigroup upgrading it from "neutral" to "buy" with a new target of $89.00.
• ArcBest's stock recently saw a 5.5% increase, reaching $76.06, despite the company reporting lower-than-expected earnings, missing consensus EPS estimates by $0.12.

ArcBest (NASDAQ:ARCB - Get Free Report)'s stock had its "hold (c-)" rating reissued by equities researchers at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Several other research analysts have also recently weighed in on the stock. TD Cowen lowered their price target on shares of ArcBest from $72.00 to $67.00 and set a "hold" rating on the stock in a research report on Wednesday, October 1st. Citigroup upgraded ArcBest from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $79.00 to $89.00 in a report on Wednesday. UBS Group upped their price objective on ArcBest from $73.00 to $80.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 30th. Cowen reaffirmed a "hold" rating on shares of ArcBest in a report on Wednesday, October 1st. Finally, Zacks Research upgraded shares of ArcBest to a "strong sell" rating in a research note on Monday, August 11th. Seven analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, ArcBest presently has an average rating of "Hold" and a consensus price target of $90.00.

ArcBest Stock Up 5.5%

Shares of ArcBest stock traded up $3.96 on Wednesday, reaching $76.06. The stock had a trading volume of 440,144 shares, compared to its average volume of 365,620. ArcBest has a 1 year low of $55.19 and a 1 year high of $123.25. The company has a 50 day moving average price of $72.05 and a 200 day moving average price of $70.29. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $1.73 billion, a P/E ratio of 11.32, a P/E/G ratio of 1.32 and a beta of 1.66.

ArcBest (NASDAQ:ARCB - Get Free Report) last released its earnings results on Wednesday, July 30th. The transportation company reported $1.36 EPS for the quarter, missing analysts' consensus estimates of $1.48 by ($0.12). The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. ArcBest had a return on equity of 8.67% and a net margin of 3.90%.The company's revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period last year, the firm earned $1.98 EPS. As a group, equities research analysts forecast that ArcBest will post 7 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ARCB. Farther Finance Advisors LLC increased its position in shares of ArcBest by 433.3% in the second quarter. Farther Finance Advisors LLC now owns 384 shares of the transportation company's stock worth $30,000 after acquiring an additional 312 shares in the last quarter. Signaturefd LLC grew its holdings in ArcBest by 477.6% during the first quarter. Signaturefd LLC now owns 387 shares of the transportation company's stock valued at $27,000 after purchasing an additional 320 shares during the last quarter. CWM LLC increased its stake in shares of ArcBest by 338.8% in the first quarter. CWM LLC now owns 452 shares of the transportation company's stock worth $32,000 after purchasing an additional 349 shares during the period. FNY Investment Advisers LLC acquired a new position in ArcBest during the 2nd quarter valued at $51,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of ArcBest in the second quarter valued at $85,000. 99.27% of the stock is owned by institutional investors and hedge funds.

ArcBest Company Profile

ArcBest Corporation, an integrated logistics company, engages in the provision of ground, air, and ocean transportation solutions. It operates through two segments: Asset-Based and Asset-Light. The Asset-Based segment provides less-than-truckload (LTL) services, that transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, non-bulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products.

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