In a report released today, Jason Seidl from Cowen & Co. maintained a Buy rating on ArcBest (ARCB), with a price target of $39.00. The company’s shares closed last Wednesday at $31.00, close to its 52-week high of $33.53.
According to TipRanks.com, Seidl is a top 100 analyst with an average return of 15.6% and a 72.9% success rate. Seidl covers the Services sector, focusing on stocks such as Covenant Logistics Group, Expeditors International, and Echo Global Logistics.
Currently, the analyst consensus on ArcBest is a Moderate Buy with an average price target of $29.17, representing a -10.3% downside. In a report issued on July 17, SunTrust Robinson also maintained a Buy rating on the stock with a $35.00 price target.
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Based on ArcBest’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $701 million and net profit of $1.9 million. In comparison, last year the company earned revenue of $712 million and had a net profit of $4.89 million.
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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, and FleetNet. The Asset-Based segment includes national, inter-regional, and regional transportation of general commodities through standard, expedited, and guaranteed less-than-truckload services. The ArcBest segment refers to the operations of the company’s expedite, truckload, and truckload-dedicated businesses as well as its premium logistics services; international freight transportation with air, ocean, and ground service offerings. The FleetNet segment covers the operations of FleetNet America, Inc., and certain other subsidiaries that provide roadside assistance and maintenance management services for commercial vehicles through a network of third-party service providers. The company was founded in 1966 and is headquartered in Fort Smith, AR.