Zacks Investment Research lowered shares of ArcBest (NASDAQ:ARCB) from a hold rating to a sell rating in a research note released 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. “

Other equities analysts have also recently issued reports about the company. BidaskClub cut ArcBest from a buy rating to a hold rating in a report on Friday, March 1st. Cowen restated a hold rating and issued a $42.00 target price on shares of ArcBest in a report on Thursday, January 31st. Loop Capital lifted their target price on ArcBest to $34.00 and gave the stock a hold rating in a report on Monday, May 6th. Wolfe Research upgraded ArcBest from an underperform rating to a market perform rating in a report on Monday, April 1st. Finally, Buckingham Research decreased their target price on ArcBest from $37.00 to $36.00 and set a neutral rating on the stock in a report on Monday, May 6th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $40.89.

Shares of ARCB stock traded up $0.43 during mid-day trading on Wednesday, hitting $29.35. 81,965 shares of the stock traded hands, compared to its average volume of 285,793. ArcBest has a twelve month low of $27.72 and a twelve month high of $51.45. The stock has a market cap of $709.78 million, a PE ratio of 7.60 and a beta of 2.07. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.40 and a current ratio of 1.40.

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

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend is Monday, May 13th. ArcBest’s payout ratio is 8.29%.

Several institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. boosted its position in shares of ArcBest by 27.0% in the first quarter. Goldman Sachs Group Inc. now owns 219,661 shares of the transportation company’s stock worth $6,763,000 after buying an additional 46,705 shares during the period. Ellington Management Group LLC acquired a new stake in shares of ArcBest in the first quarter worth $339,000. Wellington Management Group LLP boosted its position in shares of ArcBest by 1.7% in the first quarter. Wellington Management Group LLP now owns 32,087 shares of the transportation company’s stock worth $988,000 after buying an additional 540 shares during the period. Pinebridge Investments L.P. boosted its position in shares of ArcBest by 1.9% in the first quarter. Pinebridge Investments L.P. now owns 33,758 shares of the transportation company’s stock worth $1,040,000 after buying an additional 625 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of ArcBest by 10.4% in the first quarter. Geode Capital Management LLC now owns 337,758 shares of the transportation company’s stock worth $10,398,000 after buying an additional 31,752 shares during the period. 93.35% of the stock is owned by institutional investors and hedge funds.

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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