The Goldman Sachs Group Increases ArcBest (NASDAQ:ARCB) Price Target to $149.00

ArcBest (NASDAQ:ARCB) had its price objective hoisted by investment analysts at The Goldman Sachs Group from $133.00 to $149.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the transportation company’s stock. The Goldman Sachs Group’s target price suggests a potential downside of 0.13% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. UBS Group lifted 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. Deutsche Bank Aktiengesellschaft assumed coverage on shares of ArcBest in a research report on Monday, January 29th. They issued a “buy” rating and a $148.00 price objective on the stock. Stifel Nicolaus raised their target price on shares of ArcBest from $153.00 to $159.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. TD Cowen upped their price target on shares of ArcBest from $141.00 to $178.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Finally, StockNews.com upgraded shares of ArcBest from a “hold” rating to a “buy” rating in a research report on Friday, January 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, ArcBest presently has an average rating of “Moderate Buy” and a consensus target price of $148.85.

ArcBest Price Performance

Shares of NASDAQ:ARCB opened at $149.19 on Thursday. ArcBest has a 52 week low of $82.18 and a 52 week high of $153.60. The company has a 50-day moving average price of $140.02 and a 200 day moving average price of $122.29. The company has a market cap of $3.51 billion, a P/E ratio of 18.86, a PEG ratio of 0.62 and a beta of 1.49. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.13.

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

Insider Buying and Selling

In other news, insider Erin K. Gattis sold 2,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $141.58, for a total transaction of $283,160.00. Following the completion of the transaction, the insider now owns 32,247 shares of the company’s stock, valued at approximately $4,565,530.26. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.65% of the stock is currently owned by company insiders.

Institutional Trading of ArcBest

Several institutional investors have recently made changes to their positions in ARCB. EverSource Wealth Advisors LLC boosted its holdings in ArcBest by 49.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 227 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 75 shares during the last quarter. Contravisory Investment Management Inc. grew its holdings in shares of ArcBest by 70.9% during the 1st quarter. Contravisory Investment Management Inc. now owns 188 shares of the transportation company’s stock worth $27,000 after purchasing an additional 78 shares during the period. BOKF NA increased its position in ArcBest by 5.1% during the 4th quarter. BOKF NA now owns 1,643 shares of the transportation company’s stock worth $198,000 after purchasing an additional 80 shares in the last quarter. Horrell Capital Management Inc. raised its holdings in ArcBest by 0.3% in the fourth quarter. Horrell Capital Management Inc. now owns 29,224 shares of the transportation company’s stock valued at $3,513,000 after buying an additional 94 shares during the period. Finally, SummerHaven Investment Management LLC lifted its position in ArcBest by 1.3% during the fourth quarter. SummerHaven Investment Management LLC now owns 7,572 shares of the transportation company’s stock valued at $910,000 after buying an additional 96 shares in the last quarter. 99.27% of the stock is owned by hedge funds and other institutional investors.

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.