Morgan Stanley set a $36.00 price target on ArcBest (NASDAQ:ARCB) in a research report sent to investors on Monday, Stock Target Advisor reports. The firm currently has a hold rating on the transportation company’s stock.

Other analysts have also issued reports about the stock. Loop Capital raised their price objective on shares of Burlington Stores to $200.00 and gave the stock a buy rating in a report on Monday, May 6th. Bank of America restated a buy rating and issued a $48.00 price objective (up from $40.00) on shares of Synovus Financial in a report on Tuesday, March 12th. Zacks Investment Research lowered shares of HEXO from a hold rating to a sell rating in a report on Wednesday, May 15th. Citigroup raised their price objective on shares of Vistra Energy from $32.00 to $36.00 and gave the stock a buy rating in a report on Thursday, April 11th. Finally, Cowen restated an outperform rating and issued a $28.00 price objective (down from $30.00) on shares of Pure Storage in a report on Wednesday, May 22nd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $37.67.

ArcBest stock opened at $25.69 on Monday. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.39. The business’s 50-day moving average price is $26.45. The stock has a market capitalization of $646.25 million, a price-to-earnings ratio of 6.77 and a beta of 2.09. ArcBest has a 1-year low of $24.68 and a 1-year high of $51.45.

ArcBest (NASDAQ:ARCB) last posted its earnings results on Thursday, May 2nd. The transportation company reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.13). ArcBest had a return on equity of 14.19% and a net margin of 2.00%. The firm had revenue of $711.84 million for the quarter, compared to analysts’ expectations of $724.33 million. During the same quarter in the prior year, the company posted $0.29 earnings per share. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. Sell-side analysts anticipate that ArcBest will post 3.3 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in the company. Martingale Asset Management L P lifted its holdings in shares of ArcBest by 0.7% during the fourth quarter. Martingale Asset Management L P now owns 44,734 shares of the transportation company’s stock valued at $1,533,000 after purchasing an additional 300 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of ArcBest by 13.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,163 shares of the transportation company’s stock valued at $107,000 after purchasing an additional 375 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of ArcBest by 2.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 18,348 shares of the transportation company’s stock valued at $629,000 after purchasing an additional 403 shares during the last quarter. California Public Employees Retirement System lifted its holdings in shares of ArcBest by 1.5% during the fourth quarter. California Public Employees Retirement System now owns 28,993 shares of the transportation company’s stock valued at $993,000 after purchasing an additional 415 shares during the last quarter. Finally, Globeflex Capital L P lifted its holdings in shares of ArcBest by 1.6% during the first quarter. Globeflex Capital L P now owns 27,795 shares of the transportation company’s stock valued at $856,000 after purchasing an additional 439 shares during the last quarter. Hedge funds and other institutional investors own 98.77% of the company’s stock.

About ArcBest

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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Analyst Recommendations for ArcBest (NASDAQ:ARCB)

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