ArcBest (NASDAQ:ARCB) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

ArcBest (NASDAQ:ARCB) had its target price hoisted by Stifel Nicolaus from $109.00 to $125.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the transportation company’s stock. Stifel Nicolaus’ price target suggests a potential upside of 26.92% from the stock’s previous close.

ARCB has been the subject of a number of other research reports. TD Cowen cut ArcBest from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $131.00 to $114.00 in a research report on Monday, October 14th. Morgan Stanley decreased their price target 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. Wolfe Research downgraded ArcBest from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. Wells Fargo & Company reduced their target price on ArcBest from $115.00 to $105.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Finally, Citigroup upped their price target on ArcBest from $110.00 to $127.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $125.00.

ArcBest Stock Performance

ARCB opened at $98.49 on Thursday. ArcBest has a 1-year low of $91.01 and a 1-year high of $153.60. The stock has a market cap of $2.30 billion, a P/E ratio of 12.16, a P/E/G ratio of 1.83 and a beta of 1.53. The stock’s 50 day simple moving average is $102.45 and its 200 day simple moving average is $106.38. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04.

ArcBest (NASDAQ:ARCB) last posted its earnings results on Friday, November 1st. The transportation company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.84 by ($0.20). The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.07 billion. ArcBest had a net margin of 4.54% and a return on equity of 14.27%. The firm’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same period last year, the company posted $2.31 EPS. As a group, equities analysts anticipate that ArcBest will post 6.02 EPS for the current fiscal year.

Insider Buying and Selling at ArcBest

In other news, Director Craig E. Philip sold 3,900 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $109.91, for a total transaction of $428,649.00. Following the completion of the transaction, the director now owns 23,250 shares in the company, valued at approximately $2,555,407.50. This represents a 14.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael E. Newcity sold 10,443 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $609,150.60. This trade represents a 67.40 % decrease in their position. The disclosure for this sale can be found here. 1.65% of the stock is currently owned by insiders.

Institutional Trading of ArcBest

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp lifted its position in shares of ArcBest by 1.9% during the 3rd quarter. State Street Corp now owns 957,410 shares of the transportation company’s stock valued at $103,831,000 after acquiring an additional 17,542 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of ArcBest by 24.6% in the third quarter. JPMorgan Chase & Co. now owns 221,507 shares of the transportation company’s stock worth $24,022,000 after acquiring an additional 43,707 shares in the last quarter. Intech Investment Management LLC raised its holdings in shares of ArcBest by 92.3% during the third quarter. Intech Investment Management LLC now owns 10,753 shares of the transportation company’s stock valued at $1,166,000 after acquiring an additional 5,161 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of ArcBest by 16.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 116,672 shares of the transportation company’s stock valued at $12,653,000 after acquiring an additional 16,103 shares during the period. Finally, Barclays PLC lifted its position in shares of ArcBest by 342.5% in the 3rd quarter. Barclays PLC now owns 43,134 shares of the transportation company’s stock valued at $4,678,000 after acquiring an additional 33,386 shares in the last quarter. 99.27% of the stock is currently 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.