ArcBest (NASDAQ:ARCB - Get Free Report) had its price target lowered by equities researchers at Wells Fargo & Company from $96.00 to $80.00 in a research note issued on Thursday, March 27th,Benzinga reports. The brokerage currently has an "equal weight" rating on the transportation company's stock. Wells Fargo & Company's target price indicates a potential upside of 20.36% from the company's previous close.
ARCB has been the topic of a number of other reports. Stephens restated an "overweight" rating and issued a $116.00 target price on shares of ArcBest in a report on Tuesday, March 11th. UBS Group lowered their price objective on ArcBest from $110.00 to $100.00 and set a "neutral" rating for the company in a research report on Monday, February 3rd. Truist Financial started coverage on shares of ArcBest in a research note on Thursday, March 13th. They set a "buy" rating and a $93.00 price objective for the company. Citigroup dropped their price target on shares of ArcBest from $103.00 to $83.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. Finally, Morgan Stanley dropped their price objective on ArcBest from $160.00 to $145.00 and set an "overweight" rating for the company in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $107.00.
Read Our Latest Stock Analysis on ARCB
ArcBest Price Performance
Shares of ARCB stock traded down $6.36 during midday trading on Thursday, reaching $66.47. 176,031 shares of the company traded hands, compared to its average volume of 289,580. ArcBest has a 1-year low of $64.51 and a 1-year high of $153.61. The firm has a market cap of $1.54 billion, a PE ratio of 9.07, a price-to-earnings-growth ratio of 1.70 and a beta of 1.55. The firm's 50 day simple moving average is $83.41 and its two-hundred day simple moving average is $97.27. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.04.
ArcBest (NASDAQ:ARCB - Get Free Report) last announced its earnings results on Friday, January 31st. The transportation company reported $1.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.11 by $0.22. ArcBest had a net margin of 4.16% and a return on equity of 11.79%. During the same quarter in the previous year, the company earned $2.47 earnings per share. On average, equities research analysts expect that ArcBest will post 7 EPS for the current fiscal year.
Insider Buying and Selling at ArcBest
In other news, CFO John Matthew Beasley purchased 700 shares of the company's stock in a transaction on Thursday, March 13th. The shares were bought at an average price of $74.89 per share, for a total transaction of $52,423.00. Following the completion of the purchase, the chief financial officer now owns 8,142 shares of the company's stock, valued at $609,754.38. This trade represents a 9.41 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.28% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. raised its stake in shares of ArcBest by 146.3% during the fourth quarter. Blue Trust Inc. now owns 298 shares of the transportation company's stock valued at $28,000 after purchasing an additional 177 shares in the last quarter. R Squared Ltd acquired a new position in ArcBest during the 4th quarter valued at about $40,000. Smartleaf Asset Management LLC raised its position in shares of ArcBest by 471.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 549 shares of the transportation company's stock worth $51,000 after buying an additional 453 shares in the last quarter. Quest Partners LLC lifted its stake in shares of ArcBest by 60.6% in the 3rd quarter. Quest Partners LLC now owns 546 shares of the transportation company's stock worth $59,000 after acquiring an additional 206 shares during the period. Finally, KBC Group NV boosted its holdings in shares of ArcBest by 34.9% in the fourth quarter. KBC Group NV now owns 1,148 shares of the transportation company's stock valued at $107,000 after acquiring an additional 297 shares in the last quarter. Institutional investors and hedge funds own 99.27% of the company's stock.
About ArcBest
(
Get Free Report)
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.
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