ArcBest (NASDAQ:ARCB) Price Target Lowered to $148.00 at TD Cowen

ArcBest (NASDAQ:ARCB) had its price target decreased by TD Cowen from $177.00 to $148.00 in a report issued on Wednesday, Briefing.com reports. The brokerage presently has a “buy” rating on the transportation company’s stock. TD Cowen’s target price points to a potential upside of 33.44% from the company’s current price.

Other equities research analysts have also issued reports about the company. JPMorgan Chase & Co. dropped their price target on ArcBest from $168.00 to $164.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 9th. UBS Group raised their price target on shares of ArcBest from $119.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, February 16th. Bank of America boosted their price objective on shares of ArcBest from $141.00 to $143.00 and gave the company an “underperform” rating in a research report on Monday, April 15th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of ArcBest in a report on Monday, January 29th. They issued a “buy” rating and a $148.00 target price on the stock. Finally, StockNews.com raised ArcBest from a “hold” rating to a “buy” rating in a report on Friday, January 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, ArcBest has a consensus rating of “Moderate Buy” and an average price target of $149.23.

ArcBest Stock Performance

Shares of ARCB stock opened at $110.91 on Wednesday. The company’s fifty day simple moving average is $139.19 and its 200-day simple moving average is $125.72. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.13. ArcBest has a 52 week low of $82.18 and a 52 week high of $153.60. The company has a market cap of $2.61 billion, a PE ratio of 14.02, a P/E/G ratio of 0.55 and a beta of 1.49.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings data on Tuesday, April 30th. The transportation company reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.19). The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. ArcBest had a net margin of 4.41% and a return on equity of 15.91%. The business’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.58 earnings per share. As a group, equities research analysts anticipate that ArcBest will post 10.05 EPS for the current year.

Insider Activity at ArcBest

In other ArcBest news, insider Erin K. Gattis sold 2,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $141.58, for a total value of $283,160.00. Following the sale, the insider now directly owns 32,247 shares in the company, valued at $4,565,530.26. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.18% of the company’s stock.

Institutional Trading of ArcBest

Large investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC grew its holdings in shares of ArcBest by 49.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 227 shares of the transportation company’s stock worth $27,000 after acquiring an additional 75 shares during the last quarter. Contravisory Investment Management Inc. lifted its stake in 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 buying an additional 78 shares in the last quarter. Allworth Financial LP raised its holdings in shares of ArcBest by 15,450.0% during the third quarter. Allworth Financial LP now owns 311 shares of the transportation company’s stock valued at $32,000 after acquiring an additional 309 shares during the period. GAMMA Investing LLC acquired a new position in ArcBest in the 4th quarter worth approximately $39,000. Finally, Parallel Advisors LLC grew its position in ArcBest by 45.8% during the 4th quarter. Parallel Advisors LLC now owns 363 shares of the transportation company’s stock worth $44,000 after purchasing an additional 114 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.