ArcBest (NASDAQ:ARCB) Price Target Cut to $148.00

ArcBest (NASDAQ:ARCB) had its price objective decreased by research analysts at TD Cowen from $177.00 to $148.00 in a research report issued on Wednesday, Marketbeat reports. The brokerage currently has a “buy” rating on the transportation company’s stock. TD Cowen’s target price suggests a potential upside of 31.36% from the company’s previous close.

ARCB has been the subject of a number of other reports. Morgan Stanley increased their price target on ArcBest from $155.00 to $175.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. JPMorgan Chase & Co. lowered their target price on ArcBest from $168.00 to $164.00 and set an “overweight” rating for the company in a research report on Tuesday, April 9th. Stifel Nicolaus boosted their price target on shares of ArcBest from $153.00 to $159.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. UBS Group increased their price objective on shares of ArcBest from $119.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of ArcBest in a report on Monday, January 29th. They issued a “buy” rating and a $148.00 target price on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, ArcBest currently has an average rating of “Moderate Buy” and a consensus target price of $143.38.

ArcBest Trading Up 4.0 %

Shares of ARCB opened at $112.67 on Wednesday. The firm has a market cap of $2.65 billion, a P/E ratio of 22.67, a price-to-earnings-growth ratio of 0.48 and a beta of 1.56. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.23 and a quick ratio of 1.26. ArcBest has a 1 year low of $82.18 and a 1 year high of $153.60. The company has a 50 day simple moving average of $138.05 and a two-hundred day simple moving average of $125.51.

ArcBest (NASDAQ:ARCB) last posted its earnings results on Tuesday, April 30th. The transportation company reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.19). The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. ArcBest had a net margin of 2.80% and a return on equity of 15.27%. The business’s revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.58 earnings per share. On average, equities analysts expect that ArcBest will post 10.05 earnings per share for the current fiscal year.

Insider Buying and Selling at ArcBest

In other news, insider Erin K. Gattis sold 2,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $141.58, for a total value of $283,160.00. Following the sale, the insider now directly owns 32,247 shares in the company, valued at $4,565,530.26. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.65% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Seelaus Asset Management LLC bought a new position in ArcBest in the 1st quarter worth about $309,000. Capstone Investment Advisors LLC grew its stake in ArcBest by 260.3% in the first quarter. Capstone Investment Advisors LLC now owns 6,515 shares of the transportation company’s stock worth $928,000 after purchasing an additional 4,707 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in ArcBest by 2.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 25,397 shares of the transportation company’s stock worth $3,619,000 after purchasing an additional 694 shares during the period. Sequoia Financial Advisors LLC raised its position in ArcBest by 3.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,858 shares of the transportation company’s stock valued at $550,000 after purchasing an additional 131 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of ArcBest by 9.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 165,175 shares of the transportation company’s stock worth $23,537,000 after buying an additional 14,463 shares during the period. 99.27% of the stock is currently owned by institutional investors.

About ArcBest

ArcBest Corporation, an integrated logistics company, engages in the provision of ground, air, and ocean transportation solutions. It operates through two segments: Asset-Based and Asset-Light. The Asset-Based segment provides less-than-truckload (LTL) services, that transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, non-bulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products.