Jefferies Financial Group Has Lowered Expectations for ArcBest (NASDAQ:ARCB) Stock Price

ArcBest (NASDAQ:ARCB - Get Free Report) had its target price reduced by research analysts at Jefferies Financial Group from $120.00 to $95.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the transportation company's stock. Jefferies Financial Group's price target would suggest a potential upside of 52.44% from the company's previous close.

A number of other research firms have also recently commented on ARCB. Wells Fargo & Company dropped their price objective on ArcBest from $96.00 to $80.00 and set an "equal weight" rating for the company in a research report on Thursday, March 27th. Stephens reissued an "overweight" rating and set a $116.00 price objective on shares of ArcBest in a research note on Tuesday, March 11th. The Goldman Sachs Group lowered their price objective on ArcBest from $126.00 to $108.00 and set a "neutral" rating for the company in a research report on Friday, March 14th. Citigroup dropped their price target on shares of ArcBest from $83.00 to $66.00 and set a "neutral" rating for the company in a research report on Tuesday. Finally, Morgan Stanley decreased their target price on ArcBest from $160.00 to $145.00 and set an "overweight" rating for the company in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $101.75.

Remove Ads

ArcBest Price Performance

ARCB traded down $1.10 during trading on Wednesday, reaching $62.32. 384,087 shares of the stock were exchanged, compared to its average volume of 299,686. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.04. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of 8.50, a P/E/G ratio of 1.70 and a beta of 1.62. ArcBest has a 1 year low of $57.80 and a 1 year high of $151.54. The business's 50 day moving average price is $77.56 and its two-hundred day moving average price is $94.45.

ArcBest (NASDAQ:ARCB - Get Free Report) last issued its quarterly earnings data on Friday, January 31st. The transportation company reported $1.33 EPS for the quarter, beating 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 period in the previous year, the business posted $2.47 EPS. As a group, equities research analysts anticipate that ArcBest will post 7 earnings per share for the current year.

Insider Activity at ArcBest

In related news, CFO John Matthew Beasley bought 700 shares of the firm's stock in a transaction on Thursday, March 13th. The stock was bought at an average cost of $74.89 per share, for a total transaction of $52,423.00. Following the completion of the purchase, the chief financial officer now directly owns 8,142 shares in the company, valued at approximately $609,754.38. The trade was a 9.41 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.28% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its position in ArcBest by 1.9% during the 3rd quarter. State Street Corp now owns 957,410 shares of the transportation company's stock worth $103,831,000 after acquiring an additional 17,542 shares during the period. JPMorgan Chase & Co. raised its stake in shares of ArcBest by 24.6% during the third 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 in the last quarter. Barclays PLC lifted its holdings in ArcBest by 342.5% in the third quarter. Barclays PLC now owns 43,134 shares of the transportation company's stock worth $4,678,000 after purchasing an additional 33,386 shares during the period. Victory Capital Management Inc. grew its position in ArcBest by 6.0% in the 4th quarter. Victory Capital Management Inc. now owns 232,627 shares of the transportation company's stock valued at $21,709,000 after buying an additional 13,152 shares in the last quarter. Finally, Sanctuary Advisors LLC increased its stake in ArcBest by 7.4% during the 4th quarter. Sanctuary Advisors LLC now owns 4,429 shares of the transportation company's stock valued at $419,000 after buying an additional 306 shares during the period. Institutional investors and hedge funds own 99.27% of the company's stock.

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.