Arcbest Corporation (NASDAQ:ARCB) Receives a Downgrade
Bank of America (Merrill Lynch) downgraded shares of Arcbest Corporation (NASDAQ:ARCB) stock to a Underperform rating from their previous Neutral rating. The news of this change was released in an analyst research report today. The firm after the upgrade has $23.00 target PPS on the shares.
From a total of 9 analysts covering Arcbest Corporation (NASDAQ:ARCB) stock, 4 rate it a ”Buy”, 0 a “Sell”, and 10 a ”Hold”. This means that 29% of the ratings are positive. The highest target price is $42 while the lowest target price is $27. The mean of all analyst targets is $32.61 with a 47.57% above today’s ($23.65) stock price. Arcbest Corporation was the topic of 7 analyst reports since August 5, 2015 according to the firm StockzIntelligence Inc. Deutsche Bank maintained shares on November 3 with “Hold” rating.
Approximately 650 shares of stock traded hands. ArcBest Corp (NASDAQ:ARCB) has declined 34.65% since April 29, 2015 and is downtrending. It has underperformed by 34.45% the S&P500.
ArcBest Corporation is a holding company. The company has a market cap of $631.66 million. The Firm is a freight transportation services and logistics company. It has 12.05 P/E ratio. It has five divisions: Freight Transportation segment, Premium Logistics (Panther) formerly named Premium Logistics & Expedited Freight Services, Emergency & Preventative Maintenance (FleetNet), Transportation Management (ABF Logistics) and Household Goods Moving Services (ABF Moving).
According to Zacks Investment Research, “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.” Get a free copy of the Zacks research report on ArcBest Corp (ARCB).