ArcBest (NASDAQ:ARCB) Price Target Lowered to $109.00 at Stifel Nicolaus

ArcBest (NASDAQ:ARCB) had its price target dropped by analysts at Stifel Nicolaus from $114.00 to $109.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the transportation company’s stock. Stifel Nicolaus’ price objective indicates a potential upside of 6.29% from the company’s current price.

A number of other equities analysts have also weighed in on ARCB. Wells Fargo & Company decreased their price objective on shares of ArcBest from $115.00 to $105.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Jefferies Financial Group reduced their price target on shares of ArcBest from $140.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, October 10th. Morgan Stanley dropped their target price on shares of ArcBest from $175.00 to $170.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. JPMorgan Chase & Co. decreased their target price on shares of ArcBest from $130.00 to $117.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Finally, StockNews.com upgraded ArcBest from a “hold” rating to a “buy” rating in a research note on Thursday, October 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $123.67.

ArcBest Stock Up 2.0 %

Shares of ArcBest stock traded up $2.05 during midday trading on Wednesday, hitting $102.55. The company had a trading volume of 97,141 shares, compared to its average volume of 236,110. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04. The company has a 50 day moving average of $104.86 and a 200 day moving average of $106.80. ArcBest has a 52-week low of $91.01 and a 52-week high of $153.60. The stock has a market capitalization of $2.40 billion, a P/E ratio of 12.66, a P/E/G ratio of 2.56 and a beta of 1.53.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings results on Friday, November 1st. The transportation company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.20). The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.07 billion. ArcBest had a return on equity of 14.27% and a net margin of 4.54%. The business’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.31 EPS. On average, equities analysts predict that ArcBest will post 6.06 earnings per share for the current fiscal year.

Insider Activity

In other ArcBest news, SVP Michael E. Newcity sold 10,443 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $120.60, for a total transaction of $1,259,425.80. Following the completion of the transaction, the senior vice president now owns 5,051 shares in the company, valued at $609,150.60. This trade represents a 67.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Craig E. Philip sold 3,900 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $109.91, for a total value of $428,649.00. Following the sale, the director now directly owns 23,250 shares in the company, valued at $2,555,407.50. This trade represents a 14.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.65% of the company’s stock.

Institutional Investors Weigh In On ArcBest

Several large investors have recently bought and sold shares of the business. Quarry LP raised its position in shares of ArcBest by 120.7% during the 2nd quarter. Quarry LP now owns 245 shares of the transportation company’s stock valued at $26,000 after buying an additional 134 shares in the last quarter. Quest Partners LLC bought a new stake in shares of ArcBest in the 2nd quarter valued at approximately $36,000. GAMMA Investing LLC boosted its holdings in shares of ArcBest by 63.7% in the 3rd quarter. GAMMA Investing LLC now owns 514 shares of the transportation company’s stock worth $56,000 after purchasing an additional 200 shares during the period. Avior Wealth Management LLC boosted its holdings in shares of ArcBest by 17.9% in the 3rd quarter. Avior Wealth Management LLC now owns 625 shares of the transportation company’s stock worth $68,000 after purchasing an additional 95 shares during the period. Finally, KBC Group NV raised its holdings in ArcBest by 36.8% during the 3rd quarter. KBC Group NV now owns 851 shares of the transportation company’s stock valued at $92,000 after buying an additional 229 shares during the period. 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.