ArcBest (NASDAQ:ARCB) PT Lowered to $164.00

ArcBest (NASDAQ:ARCB) had its target price lowered by analysts at JPMorgan Chase & Co. from $168.00 to $164.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 10.62% from the company’s current price.

A number of other equities analysts also recently commented on the company. Deutsche Bank Aktiengesellschaft began coverage on ArcBest in a report on Monday, January 29th. They issued a “buy” rating and a $148.00 price objective on the stock. Morgan Stanley increased their price objective on ArcBest from $155.00 to $175.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. UBS Group increased their price objective on ArcBest from $119.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, February 16th. Stephens increased their price objective on ArcBest from $165.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. Finally, StockNews.com raised ArcBest from a “hold” rating to a “buy” rating in a research report on Friday, January 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $146.38.

ArcBest Price Performance

Shares of ARCB opened at $148.25 on Tuesday. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of 18.74, a P/E/G ratio of 0.63 and a beta of 1.49. ArcBest has a fifty-two week low of $82.18 and a fifty-two week high of $153.60. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.26 and a quick ratio of 1.26. The business’s 50-day moving average is $138.99 and its 200-day moving average is $121.75.

ArcBest (NASDAQ:ARCB) last issued its earnings results on Tuesday, February 6th. The transportation company reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.25. ArcBest had a return on equity of 15.91% and a net margin of 4.41%. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the company earned $2.45 EPS. The firm’s quarterly revenue was down 6.4% on a year-over-year basis. Equities research analysts expect that ArcBest will post 10.16 EPS for the current fiscal year.

Insider Activity

In other news, insider Erin K. Gattis sold 2,000 shares of the firm’s stock in a transaction 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 completion of 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 filing with the SEC, which is accessible through this link. 1.18% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ArcBest

Several hedge funds have recently added to or reduced their stakes in ARCB. FMR LLC boosted its holdings in ArcBest by 776.2% in the first quarter. FMR LLC now owns 358,297 shares of the transportation company’s stock valued at $33,114,000 after acquiring an additional 317,405 shares during the last quarter. Cooper Creek Partners Management LLC bought a new position in ArcBest in the third quarter valued at about $29,108,000. Segall Bryant & Hamill LLC bought a new position in ArcBest in the second quarter valued at about $17,232,000. Balyasny Asset Management L.P. bought a new position in ArcBest in the fourth quarter valued at about $20,466,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in ArcBest by 175.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 195,270 shares of the transportation company’s stock valued at $19,849,000 after acquiring an additional 124,354 shares during the last quarter. Institutional investors own 99.27% of the company’s stock.

ArcBest Company Profile

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.