ArcBest Corp (ARCB) is Downgraded by Stifel to Hold

ArcBest Corp (ARCB) was Downgraded by Stifel to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. Stifel advised their investors in a research report released on May 2, 2016.

Many Wall Street Analysts have commented on ArcBest Corp. Stifel Upgraded ArcBest Corp on Feb 4, 2016 to ” Buy”, Price Target of the shares are set at $23.

On the company’s financial health, ArcBest Corp reported $-0.23 EPS for the quarter, missing the analyst consensus estimate by $ -0.11 based on the information available during the earnings call on Apr 29, 2016. Analyst had a consensus of $-0.12. The company had revenue of $621.50 million for the quarter, compared to analysts expectations of $625.33 million. The company’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 EPS.

ArcBest Corp opened for trading at $22.06 and hit $22.52 on the upside on Wednesday, eventually ending the session at $22.28, with a gain of 1.64% or 0.36 points. The heightened volatility saw the trading volume jump to 2,82,006 shares. Company has a market cap of $574 M.

In a different news, on Aug 10, 2015, Michael E Newcity (SVP – Chf Innovation Offcr(1) sold 7,265 shares at $34.00 per share price.

ArcBest Corporation is a holding company. The Company is a freight transportation services and logistics company. It has five segments: Freight Transportation (ABF Freight) segment Premium Logistics (Panther) formerly named Premium Logistics & Expedited Freight Services Emergency & Preventative Maintenance (FleetNet) Transportation Management (ABF Logistics) and Household Goods Moving Services (ABF Moving). ABF Freight provides interstate and intrastate direct service to approximately 48000 communities through 247 service centers in 50 states Canada and Puerto Rico. Panther is a provider of logistics services. FleetNet provides roadside assistance and maintenance management services. ABF Logistics provides freight brokerage and intermodal transportation services ocean shipping solutions and transportation and warehouse management services. ABF Moving segment provides third-party transportation warehousing and delivery services.

ArcBest Corp

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