Loop Capital: Time To Buy ArcBest (NASDAQ:ARCB)? Has $47 Valuation Target

October 2, 2018 - By olga

ArcBest Corporation (NASDAQ:ARCB) Logo

Why Has Loop Capital Given ArcBest (NASDAQ:ARCB) a $47 Price Target

In a research report shared with investors and clients on Tuesday, 2 October, Loop Capital analyst has today has started coverage for ArcBest (NASDAQ:ARCB) shares with a “Hold” rating. The target is $47.

ArcBest Corporation (NASDAQ:ARCB) Ratings Coverage

Among 4 analysts covering ArcBest (NASDAQ:ARCB), 0 have Buy rating, 0 Sell and 4 Hold. Therefore 0 are positive. ArcBest has $50 highest and $3700 lowest target. $45’s average target is -5.50% below currents $47.62 stock price. ArcBest had 4 analyst reports since April 3, 2018 according to SRatingsIntel. Stephens maintained the stock with “Hold” rating in Thursday, April 12 report. The stock of ArcBest Corporation (NASDAQ:ARCB) earned “Neutral” rating by Buckingham Research on Thursday, August 9. The company was upgraded on Tuesday, April 3 by Stifel Nicolaus. Bank of America maintained ArcBest Corporation (NASDAQ:ARCB) on Wednesday, August 1 with “Neutral” rating.

The stock decreased 3.54% or $1.75 during the last trading session, reaching $47.62. About 139,311 shares traded. ArcBest Corporation (NASDAQ:ARCB) has risen 70.66% since October 2, 2017 and is uptrending. It has outperformed by 55.04% the S&P500.

Analysts await ArcBest Corporation (NASDAQ:ARCB) to report earnings on November, 2. They expect $1.10 EPS, up 86.44 % or $0.51 from last year’s $0.59 per share. ARCB’s profit will be $28.25 million for 10.82 P/E if the $1.10 EPS becomes a reality. After $1.12 actual EPS reported by ArcBest Corporation for the previous quarter, Wall Street now forecasts -1.79 % negative EPS growth.

ArcBest Corporation provides freight transportation services and integrated logistics solutions worldwide. The company has market cap of $1.22 billion. The companyÂ’s 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. It has a 20.33 P/E ratio. This segment also offers motor carrier freight transportation services to clients in Mexico through arrangements with trucking companies.

Another recent and important ArcBest Corporation (NASDAQ:ARCB) news was published by Seekingalpha.com which published an article titled: “ArcBest execs challenge report of accounting issues” on September 18, 2018.

ArcBest Corporation (NASDAQ:ARCB) Ratings Chart

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