ArcBest (NASDAQ:ARCB) Price Target Cut to $125.00 by Analysts at The Goldman Sachs Group

ArcBest (NASDAQ:ARCB) had its price objective lowered by research analysts at The Goldman Sachs Group from $133.00 to $125.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the transportation company’s stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 21.86% from the company’s previous close.

Several other research analysts have also recently weighed in on ARCB. TD Cowen decreased their price target on shares of ArcBest from $136.00 to $131.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Wolfe Research lowered shares of ArcBest from an “outperform” rating to a “peer perform” rating in a research report on Wednesday. Stifel Nicolaus cut their target price on shares of ArcBest from $150.00 to $131.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Morgan Stanley cut their target price on shares of ArcBest from $180.00 to $176.00 and set an “overweight” rating for the company in a research report on Monday, July 8th. Finally, StockNews.com upgraded shares of ArcBest from a “hold” rating to a “buy” rating in a research report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $129.27.

ArcBest Price Performance

Shares of ArcBest stock traded down $0.10 during trading on Wednesday, hitting $102.58. The stock had a trading volume of 111,035 shares, compared to its average volume of 290,918. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of 20.68, a P/E/G ratio of 1.37 and a beta of 1.46. ArcBest has a 12 month low of $86.93 and a 12 month high of $153.60. The business’s 50-day moving average is $106.43 and its 200 day moving average is $115.15. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.12.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings results on Friday, August 2nd. The transportation company reported $1.98 earnings per share for the quarter, missing the consensus estimate of $2.03 by ($0.05). The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.06 billion. ArcBest had a return on equity of 15.98% and a net margin of 2.96%. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.54 EPS. As a group, sell-side analysts anticipate that ArcBest will post 7.21 earnings per share for the current year.

Insider Transactions at ArcBest

In other news, Director Salvatore A. Abbate bought 1,000 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was bought at an average cost of $103.93 per share, for a total transaction of $103,930.00. Following the completion of the acquisition, the director now owns 3,650 shares in the company, valued at approximately $379,344.50. This trade represents a 0.00 % increase in their position. The acquisition 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.

Hedge Funds Weigh In On ArcBest

Institutional investors have recently bought and sold shares of the stock. Contravisory Investment Management Inc. increased its stake in shares of ArcBest by 70.9% during the first quarter. Contravisory Investment Management Inc. now owns 188 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 78 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of ArcBest by 0.9% during the second quarter. Louisiana State Employees Retirement System now owns 11,800 shares of the transportation company’s stock valued at $1,264,000 after purchasing an additional 100 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of ArcBest by 4.2% during the second quarter. Nisa Investment Advisors LLC now owns 3,101 shares of the transportation company’s stock valued at $332,000 after purchasing an additional 125 shares in the last quarter. Johnson Investment Counsel Inc. increased its stake in shares of ArcBest by 6.5% during the second quarter. Johnson Investment Counsel Inc. now owns 2,095 shares of the transportation company’s stock valued at $224,000 after purchasing an additional 128 shares in the last quarter. Finally, Oliver Luxxe Assets LLC increased its stake in shares of ArcBest by 1.6% during the first quarter. Oliver Luxxe Assets LLC now owns 8,216 shares of the transportation company’s stock valued at $1,171,000 after purchasing an additional 129 shares in the last quarter. 99.27% of the stock is 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.