In a report released yesterday, David Ross from Stifel Nicolaus reiterated a Hold rating on ArcBest Corporation (NASDAQ: ARCB), with a price target of $46. The company’s shares closed yesterday at $48.35, close to its 52-week high of $50.45.
According to TipRanks.com, Ross is a 4-star analyst with an average return of 7.4% and a 64.6% success rate. Ross covers the Services sector, focusing on stocks such as Covenant Transportation Group, Expeditors International, and Air Transport Services.
Currently, the analyst consensus on ArcBest Corporation is a Hold with an average price target of $43.67, a -9.7% downside from current levels. In a report issued on August 1, Stephens also reiterated a Hold rating on the stock with a $39 price target.
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Based on ArcBest Corporation’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $1.23 million. In comparison, last year the company had a net profit of $15.71 million.
Based on the recent corporate insider activity of 9 insiders, corporate insider sentiment is negative on the stock.
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ArcBest Corp. is a holding company which engages in the provision of freight transportation services and solutions. It operates through the following business segments: Asset-Based, ArcBest, FleetNet, and Other and Eliminations.
