Bank of America Lowers ArcBest (NASDAQ:ARCB) Price Target to $73.00

ArcBest (NASDAQ:ARCB - Get Free Report) had its price objective decreased by Bank of America from $100.00 to $73.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an "underperform" rating on the transportation company's stock. Bank of America's price target would indicate a potential downside of 0.04% from the company's previous close.

Several other equities analysts have also recently commented on the stock. Citigroup dropped their target price on shares of ArcBest from $103.00 to $83.00 and set a "neutral" rating for the company in a research report on Tuesday. UBS Group cut their target price on ArcBest from $110.00 to $100.00 and set a "neutral" rating for the company in a research note on Monday, February 3rd. Stifel Nicolaus lifted their price target on ArcBest from $109.00 to $125.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. Wells Fargo & Company dropped their price objective on ArcBest from $105.00 to $96.00 and set an "equal weight" rating for the company in a research report on Monday, February 3rd. Finally, Morgan Stanley decreased their target price on ArcBest from $160.00 to $145.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $109.75.

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ArcBest Stock Performance

Shares of ARCB stock traded up $0.15 during midday trading on Wednesday, hitting $73.03. 410,844 shares of the company were exchanged, compared to its average volume of 284,832. The firm has a market capitalization of $1.69 billion, a P/E ratio of 9.96, a PEG ratio of 1.70 and a beta of 1.54. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.04 and a current ratio of 1.01. ArcBest has a 52 week low of $70.96 and a 52 week high of $153.61. The firm's 50 day moving average price is $90.45 and its two-hundred day moving average price is $100.27.

ArcBest (NASDAQ:ARCB - Get Free Report) last released its earnings results on Friday, January 31st. The transportation company reported $1.33 earnings per share for the quarter, beating analysts' consensus estimates of $1.11 by $0.22. ArcBest had a return on equity of 11.79% and a net margin of 4.16%. During the same quarter in the prior year, the business posted $2.47 earnings per share. As a group, equities research analysts anticipate that ArcBest will post 7 earnings per share for the current year.

Insider Buying and Selling at ArcBest

In related news, CFO John Matthew Beasley acquired 700 shares of the stock in a transaction dated Thursday, March 13th. The stock was bought at an average price of $74.89 per share, for a total transaction of $52,423.00. Following the purchase, the chief financial officer now directly owns 8,142 shares of the company's stock, valued at $609,754.38. The trade was a 9.41 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.65% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ARCB. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of ArcBest during the 4th quarter worth about $2,994,000. Mackenzie Financial Corp boosted its holdings in ArcBest by 71.0% in the fourth quarter. Mackenzie Financial Corp now owns 15,449 shares of the transportation company's stock worth $1,442,000 after acquiring an additional 6,412 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in ArcBest by 3.4% in the fourth quarter. Public Employees Retirement System of Ohio now owns 35,270 shares of the transportation company's stock valued at $3,291,000 after acquiring an additional 1,146 shares during the period. Zimmer Partners LP increased its holdings in shares of ArcBest by 23.5% during the fourth quarter. Zimmer Partners LP now owns 105,000 shares of the transportation company's stock valued at $9,799,000 after acquiring an additional 20,000 shares in the last quarter. Finally, Westwood Holdings Group Inc. increased its holdings in shares of ArcBest by 2.6% during the fourth quarter. Westwood Holdings Group Inc. now owns 635,858 shares of the transportation company's stock valued at $59,338,000 after acquiring an additional 16,239 shares in the last quarter. 99.27% of the stock is owned by institutional investors.

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.