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

ArcBest (NASDAQ:ARCB - Get Free Report) had its target price dropped by Stifel Nicolaus from $114.00 to $109.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the transportation company's stock. Stifel Nicolaus' target price indicates a potential upside of 7.26% from the company's current price.

ARCB has been the topic of a number of other reports. The Goldman Sachs Group cut their price target on shares of ArcBest from $133.00 to $125.00 and set a "neutral" rating on the stock in a report on Wednesday, October 9th. JPMorgan Chase & Co. dropped their target price on shares of ArcBest from $130.00 to $117.00 and set a "neutral" rating on the stock in a research note on Monday, November 4th. Wells Fargo & Company reduced their target price on shares of ArcBest from $115.00 to $105.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 7th. Citigroup boosted their price target on ArcBest from $110.00 to $127.00 and gave the company a "neutral" rating in a report on Tuesday, November 12th. Finally, UBS Group reduced their price objective on ArcBest from $111.00 to $110.00 and set a "neutral" rating on the stock in a report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $123.67.

ArcBest Trading Up 1.1 %

NASDAQ ARCB traded up $1.12 during trading on Wednesday, hitting $101.62. The stock had a trading volume of 302,697 shares, compared to its average volume of 259,342. ArcBest has a one year low of $91.01 and a one year high of $153.60. The stock has a 50 day simple moving average of $104.48 and a 200 day simple moving average of $106.77. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of 12.55, a P/E/G ratio of 2.56 and a beta of 1.53. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04.

ArcBest (NASDAQ:ARCB - Get Free Report) last issued its quarterly earnings results on Friday, November 1st. The transportation company reported $1.64 earnings per share (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%. ArcBest's revenue was down 5.8% on a year-over-year basis. During the same period in the prior year, the business posted $2.31 earnings per share. Sell-side analysts predict that ArcBest will post 6.06 earnings per share for the current year.

Insider Activity at ArcBest

In other ArcBest news, Director Craig E. Philip sold 3,900 shares of ArcBest stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $109.91, for a total value of $428,649.00. Following the transaction, the director now directly owns 23,250 shares of the company's stock, valued at approximately $2,555,407.50. The trade was a 14.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael E. Newcity sold 10,443 shares of the company'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 directly owns 5,051 shares in the company, valued at approximately $609,150.60. The trade was a 67.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.65% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ArcBest

Institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its position in shares of ArcBest by 24.6% in 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 last quarter. Sanctuary Advisors LLC increased its stake in ArcBest by 5.4% during the 3rd quarter. Sanctuary Advisors LLC now owns 4,123 shares of the transportation company's stock valued at $453,000 after purchasing an additional 213 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of ArcBest in the third quarter worth $485,000. Geode Capital Management LLC lifted its stake in shares of ArcBest by 0.6% during the third quarter. Geode Capital Management LLC now owns 551,821 shares of the transportation company's stock worth $59,856,000 after buying an additional 3,475 shares during the period. Finally, Impala Asset Management LLC grew its holdings in shares of ArcBest by 51.1% during the third quarter. Impala Asset Management LLC now owns 34,000 shares of the transportation company's stock valued at $3,687,000 after buying an additional 11,500 shares during 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.