Morgan Stanley Maintains ArcBest Corp to Equal-weight with Price Target $18.00

Brokerage firm Morgan Stanley Maintains its rating on ArcBest Corp(NASDAQ:ARCB). In a research note issued to the investors, the brokerage major Lowers the price-target to $18.00 per share. The shares have been rated Equal-weight. The rating by Morgan Stanley was issued on Aug 1, 2016.

In a different note, On Jul 20, 2016, Deutsche Bank said it Maintains its rating on ArcBest Corp. In the research note, the firm Lowers the price-target to $21.00 per share. The shares have been rated ‘Hold’ by the firm. On Jul 13, 2016, Citigroup said it Maintains its rating on ArcBest Corp. In the research note, the firm Lowers the price-target to $20.00 per share. The shares have been rated ‘Neutral’ by the firm. On Jul 11, 2016, Citigroup said it Maintains its rating on ArcBest Corp. In the research note, the firm Lowers the price-target to $20.00 per share. The shares have been rated ‘Neutral’ by the firm.

ArcBest Corp (ARCB) shares turned negative on Mondays trading session with the shares closing down -0.41 points or -2.19% at a volume of 84,886. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $18.975. The peak price level was also seen at $18.975 while the days lowest was $18.26. Finally the shares closed at $18.29. The 52-week high of the shares is $34.1 while the 52-week low is $14.85. According to the latest information available, the market cap of the company is $471 M.

ArcBest Corp has also declared a cash dividend of $0.0800 on Jul 28, 2016. The shares will quote ex-dividend on Aug 9, 2016 and the record date has been fixed on Aug 11, 2016. The dividend payable date has been fixed on Aug 25, 2016.

ArcBest Corp(ARCB) last announced its earnings results on Jul 29, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $676.63M. Analysts had an estimated revenue of $683.12M. Earnings per share were $0.38. Analysts had estimated an EPS of $0.43.

Several Insider Transactions has been reported to the SEC. 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.

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