Logistics company ArcBest shares got downgraded by Wolfe Research.
Wolfe Research lowered rating on ArcBest's stock to peer perform from outperform. According to analyst Scott Group, investors should take profits following ArcBest’s six-month rally.
Group wrote that shares of ArcBest do best during periods of tonnage growth, while mentioning that LTL fundamentals are outstanding at present.
The analyst also emphasized on the sector’s wider margins and sustainable pricing power.