JPMorgan Chase & Co. Issues Pessimistic Forecast for ArcBest (NASDAQ:ARCB) Stock Price

ArcBest (NASDAQ:ARCB) had its price objective reduced by stock analysts at JPMorgan Chase & Co. from $130.00 to $117.00 in a report issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 12.39% from the stock’s current price.

A number of other research analysts have also weighed in on the company. TD Cowen lowered ArcBest from a “buy” rating to a “hold” rating and decreased their target price for the stock from $131.00 to $114.00 in a report on Monday, October 14th. The Goldman Sachs Group dropped their price objective on shares of ArcBest from $133.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Wells Fargo & Company reduced their target price on shares of ArcBest from $112.00 to $105.00 and set an “equal weight” rating for the company in a report on Monday. Stephens reissued an “overweight” rating and issued a $130.00 price target on shares of ArcBest in a report on Wednesday, September 4th. Finally, Bank of America reduced their price objective on ArcBest from $102.00 to $99.00 and set an “underperform” rating for the company in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $123.17.

ArcBest Stock Performance

Shares of ARCB opened at $104.10 on Monday. The company has a market cap of $2.46 billion, a PE ratio of 12.85, a price-to-earnings-growth ratio of 1.31 and a beta of 1.47. The firm has a 50-day moving average of $104.48 and a 200-day moving average of $109.45. ArcBest has a one year low of $94.76 and a one year high of $153.60. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.19.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings results on Friday, November 1st. The transportation company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.20). The business had revenue of $1.06 billion for 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 company’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.31 EPS. As a group, equities analysts forecast that ArcBest will post 6.89 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Salvatore A. Abbate bought 1,000 shares of ArcBest stock in a transaction dated Monday, August 12th. The shares were bought at an average cost of $103.93 per share, with a total value of $103,930.00. Following the acquisition, the director now owns 3,650 shares in the company, valued at $379,344.50. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 1.18% of the company’s stock.

Institutional Investors Weigh In On ArcBest

Several institutional investors and hedge funds have recently bought and sold shares of the company. Louisiana State Employees Retirement System raised its position in shares of ArcBest by 0.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 11,800 shares of the transportation company’s stock valued at $1,264,000 after buying an additional 100 shares in the last quarter. Nisa Investment Advisors LLC raised its position in ArcBest by 4.0% during the third quarter. Nisa Investment Advisors LLC now owns 3,225 shares of the transportation company’s stock valued at $350,000 after purchasing an additional 124 shares in the last quarter. Johnson Investment Counsel Inc. lifted its stake in ArcBest by 6.5% during the second quarter. Johnson Investment Counsel Inc. now owns 2,095 shares of the transportation company’s stock worth $224,000 after purchasing an additional 128 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of ArcBest by 3.5% in the 1st quarter. Sequoia Financial Advisors LLC now owns 3,858 shares of the transportation company’s stock valued at $550,000 after purchasing an additional 131 shares in the last quarter. Finally, Quarry LP increased its stake in shares of ArcBest by 120.7% in the 2nd quarter. Quarry LP now owns 245 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 134 shares during the last quarter. Institutional investors own 99.27% of the company’s stock.

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.