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Wells Fargo Reaffirms Their Hold Rating on ArcBest (ARCB)

Tipranks - Tipranks - Sat Jun 27, 5:25AM CDT

Wells Fargo analyst Christian Wetherbee maintained a Hold rating on ArcBest yesterday and set a price target of $150.00. The company’s shares closed yesterday at $150.02.

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According to TipRanks, Wetherbee is a 5-star analyst with an average return of 15.1% and a 62.42% success rate. Wetherbee covers the Industrials sector, focusing on stocks such as American Airlines, Delta Air Lines, and Southwest Airlines.

In addition to Wells Fargo, ArcBest also received a Hold from TD Cowen’s Jason Seidl in a report issued on June 9. However, on June 23, Goldman Sachs maintained a Buy rating on ArcBest (NASDAQ: ARCB).

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Based on ArcBest’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $998.79 million and a GAAP net loss of $1.04 million. In comparison, last year the company earned a revenue of $967.08 million and had a net profit of $3.13 million

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