Bank of America (Merrill Lynch) Maintains Arcbest Corporation (NASDAQ:ARCB) As Underperform; Has Target Price per Share Of $17.00

Arcbest Corporation (NASDAQ:ARCB) Rating

The firm have set PT of $17.00 on Arcbest Corporation (NASDAQ:ARCB) shares. This is -12.78% from the last close price. In an analyst note shared with investors on 22 February, Bank of America (Merrill Lynch) reiterated their Underperform rating on shares of ARCB.

Out of 10 analysts covering Arcbest Corporation (NASDAQ:ARCB), 0 rate it “Buy”, 0 “Sell”, while 0 “Hold”. This means NaN are positive. $31 is the highest target while $16 is the lowest. The $22.1 average target is 37.45% above today’s ($20.32) stock price. Arcbest Corporation was the topic in 14 analyst reports since August 5, 2015 according to StockzIntelligence Inc. Citigroup maintained the stock on February 4 with “Neutral” rating. Bank of America downgraded the shares of ARCB in a report on December 2 to “Underperform” rating.

About 8,773 shares traded hands. ArcBest Corp (NASDAQ:ARCB) has declined 36.49% since July 16, 2015 and is downtrending. It has underperformed by 26.77% the S&P500.

Analysts await ArcBest Corp (NASDAQ:ARCB) to reports earnings on May, 2. They expect $-0.08 earnings per share, down 233.33% or $0.14 from last year’s $0.06 per share. After $0.21 actual earnings per share reported by ArcBest Corp for the previous quarter, Wall Street now forecasts -138.10% negative EPS growth.

ArcBest Corporation is a holding company. The company has a market cap of $517.46 million. The Firm is a freight transportation services and logistics company. It has 12.11 P/E ratio. It has five divisions: Freight Transportation 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).

According to Zacks Investment Research, “ArcBest Corporation provides freight transportation services and solutions. The company’s Freight Transportation segment offers transportation of general commodities; motor carrier freight transportation services; business-to-business air transportation services; ocean transport services; global customizable supply chain solutions and integrated warehousing services. Its Premium Logistics & Expedited Freight Services segment provides expedited freight transportation services to commercial and government customers; premium logistics services; and domestic and international freight transportation with air, ocean, and ground service. ArcBest Corporation, formerly known as Arkansas Best Corporation, is headquartered in Fort Smith, Arkansas.”

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