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

ArcBest (NASDAQ:ARCB) had its target price dropped by equities researchers at Stifel Nicolaus from $114.00 to $109.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the transportation company’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 6.94% from the company’s current price.

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

ArcBest Stock Performance

Shares of ARCB stock opened at $101.93 on Wednesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04. The company’s fifty day moving average price is $104.26 and its two-hundred day moving average price is $106.73. The firm has a market capitalization of $2.39 billion, a P/E ratio of 12.58, a P/E/G ratio of 1.61 and a beta of 1.53. ArcBest has a 12 month low of $91.01 and a 12 month high of $153.60.

ArcBest (NASDAQ:ARCB) last issued 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). ArcBest had a net margin of 4.54% and a return on equity of 14.27%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the company posted $2.31 EPS. The company’s revenue for the quarter was down 5.8% on a year-over-year basis. On average, research analysts anticipate that ArcBest will post 6.03 earnings per share for the current fiscal year.

Insider Activity at ArcBest

In related news, Director Craig E. Philip sold 3,900 shares of the firm’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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael E. Newcity sold 10,443 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $120.60, for a total value of $1,259,425.80. Following the transaction, the senior vice president now owns 5,051 shares of the company’s stock, valued at $609,150.60. This trade represents a 67.40 % decrease in their position. The disclosure for this sale can be found here. 1.18% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ArcBest

Several large investors have recently bought and sold shares of the stock. Westwood Holdings Group Inc. boosted its holdings in shares of ArcBest by 34.7% in the second quarter. Westwood Holdings Group Inc. now owns 583,762 shares of the transportation company’s stock valued at $62,509,000 after acquiring an additional 150,467 shares in the last quarter. Marshall Wace LLP boosted its stake in ArcBest by 158.7% during the 2nd quarter. Marshall Wace LLP now owns 191,987 shares of the transportation company’s stock valued at $20,558,000 after purchasing an additional 117,774 shares in the last quarter. Mutual of America Capital Management LLC increased its position in shares of ArcBest by 1,455.0% during the 2nd quarter. Mutual of America Capital Management LLC now owns 63,399 shares of the transportation company’s stock valued at $6,789,000 after purchasing an additional 59,322 shares during the period. JPMorgan Chase & Co. increased its position in shares of ArcBest by 24.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 221,507 shares of the transportation company’s stock valued at $24,022,000 after purchasing an additional 43,707 shares during the period. Finally, Barclays PLC raised its stake in shares of ArcBest by 342.5% in the 3rd quarter. Barclays PLC now owns 43,134 shares of the transportation company’s stock worth $4,678,000 after buying an additional 33,386 shares in the last quarter. Institutional investors and hedge funds 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.