Morgan Stanley analyst Ravi Shanker maintained a Hold rating on ArcBest (ARCB) today and set a price target of $23.00. The company’s shares closed last Wednesday at $20.62.
According to TipRanks.com, Shanker is a 4-star analyst with an average return of 3.8% and a 62.9% success rate. Shanker covers the Services sector, focusing on stocks such as Expeditors International, Echo Global Logistics, and Knight Transportation.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for ArcBest with a $26.20 average price target, a 35.9% upside from current levels. In a report issued on April 6, Stephens also maintained a Hold rating on the stock with a $18.00 price target.
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ArcBest’s market cap is currently $486.2M and has a P/E ratio of 12.20. The company has a Price to Book ratio of 0.76.
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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.
