ArcBest (NASDAQ:ARCB) PT Raised to $143.00

ArcBest (NASDAQ:ARCB) had its price target boosted by equities research analysts at Bank of America from $141.00 to $143.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has an “underperform” rating on the transportation company’s stock. Bank of America‘s price target would indicate a potential downside of 4.19% from the company’s current price.

ARCB has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft initiated coverage on ArcBest in a research note on Monday, January 29th. They issued a “buy” rating and a $148.00 price target for the company. TD Cowen lifted their price objective on ArcBest from $141.00 to $178.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. StockNews.com upgraded shares of ArcBest from a “hold” rating to a “buy” rating in a report on Friday, January 26th. Stephens lifted their price target on ArcBest from $165.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. Finally, The Goldman Sachs Group upped their price objective on ArcBest from $133.00 to $149.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $151.54.

ArcBest Price Performance

ArcBest stock opened at $149.25 on Monday. The business’s fifty day moving average is $140.45 and its two-hundred day moving average is $122.93. The firm has a market cap of $3.51 billion, a P/E ratio of 18.87, a P/E/G ratio of 0.63 and a beta of 1.49. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.26 and a current ratio of 1.26. ArcBest has a 52 week low of $82.18 and a 52 week high of $153.60.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings data on Tuesday, February 6th. The transportation company reported $2.47 EPS for the quarter, topping 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 firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period last year, the company earned $2.45 earnings per share. The company’s revenue was down 6.4% on a year-over-year basis. Equities research analysts forecast that ArcBest will post 10.08 earnings per share for the current fiscal year.

Insider Transactions at ArcBest

In other news, insider Erin K. Gattis sold 2,000 shares of the company’s stock in a transaction on Friday, March 1st. The shares were 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 of the company’s stock, valued at approximately $4,565,530.26. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.18% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ArcBest

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. boosted its position in shares of ArcBest by 13.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,737 shares of the transportation company’s stock valued at $220,000 after buying an additional 314 shares during the last quarter. Citigroup Inc. lifted its position in shares of ArcBest by 4.5% during the 1st quarter. Citigroup Inc. now owns 24,501 shares of the transportation company’s stock valued at $1,972,000 after buying an additional 1,061 shares during the last quarter. MetLife Investment Management LLC grew its stake in shares of ArcBest by 55.3% during the 1st quarter. MetLife Investment Management LLC now owns 13,678 shares of the transportation company’s stock worth $1,101,000 after acquiring an additional 4,871 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of ArcBest by 10.9% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,438 shares of the transportation company’s stock worth $1,726,000 after purchasing an additional 2,114 shares in the last quarter. Finally, APG Asset Management N.V. bought a new stake in shares of ArcBest in the first quarter valued at approximately $1,461,000. Institutional investors own 99.27% of the company’s stock.

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.