Citigroup (NYSE: C) boosted their price target on shares of Arkansas Best Corp (NASDAQ: ABFS) to $23.00 in a research note issued on Monday.
Separately, analysts at Bank of America (NYSE: BAC) downgraded shares of Arkansas Best Corp from a “buy” rating to a “neutral” rating in a research note to investors on Monday. Also, analysts at SunTrust (NYSE: STI) initiated coverage on shares of Arkansas Best Corp in a research note to investors on Wednesday, January 18th. They set a “buy” rating on the stock.
Arkansas Best Corporation is a holding company. The Company, through its subsidiaries, is engaged in motor carrier freight transportation. The Company’s principal operations are conducted through ABF Freight System, Inc. and other subsidiaries of the Company, which include ABF Freight System (B.C.), Ltd., ABF Freight System Canada, Ltd., ABF Cartage, Inc., and Land-Marine Cargo, Inc. (collectively ABF). During the year ended December 31, 2009, ABF accounted for 94% of the Company’s consolidated revenues. ABF is a less-than-truckload (LTL) motor carriers in North America and provides direct service to more than 98% of United States cities. ABF provides interstate and intrastate direct service to more than 44,000 communities through 281 service centers in all 50 states, Canada and Puerto Rico. Through arrangements with trucking companies in Mexico, ABF provides motor carrier services to customers in that country as well.
Arkansas Best Corp traded down 4.44% on Monday, hitting $18.28. Arkansas Best Corp has a 1-year low of $14.22 and a 1-year high of $27.44. The stock has a 50-day moving average of $19.81 and a 200-day moving average of $19.83. The company has a market cap of $464.7 million and a price-to-earnings ratio of 318.83.