ArcBest (NASDAQ:ARCB) Price Target Raised to $125.00 at Stifel Nicolaus

ArcBest (NASDAQ:ARCB) had its price objective increased by investment analysts at Stifel Nicolaus from $109.00 to $125.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the transportation company’s stock. Stifel Nicolaus’ target price suggests a potential upside of 24.91% from the stock’s previous close.

A number of other analysts also recently issued reports on ARCB. UBS Group cut their price objective on shares of ArcBest from $111.00 to $110.00 and set a “neutral” rating for the company in a report on Monday, November 4th. JPMorgan Chase & Co. cut their price objective on shares of ArcBest from $130.00 to $117.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Jefferies Financial Group cut their price objective on shares of ArcBest from $140.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, October 10th. TD Cowen downgraded shares of ArcBest from a “buy” rating to a “hold” rating and cut their price objective for the company from $131.00 to $114.00 in a report on Monday, October 14th. Finally, Citigroup boosted their target price on shares of ArcBest from $110.00 to $127.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, ArcBest currently has a consensus rating of “Hold” and an average target price of $125.00.

ArcBest Stock Performance

Shares of ARCB traded up $1.60 during midday trading on Thursday, reaching $100.07. The stock had a trading volume of 13,187 shares, compared to its average volume of 227,390. The firm has a 50 day simple moving average of $102.87 and a 200-day simple moving average of $106.49. ArcBest has a one year low of $91.01 and a one year high of $153.60. The firm has a market cap of $2.34 billion, a PE ratio of 12.32, a P/E/G ratio of 1.86 and a beta of 1.53. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.09.

ArcBest (NASDAQ:ARCB) last announced its earnings results on Friday, November 1st. The transportation company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.84 by ($0.20). The company 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%. The business’s quarterly revenue was down 5.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.31 EPS. As a group, sell-side analysts anticipate that ArcBest will post 6.02 EPS for the current year.

Insiders Place Their Bets

In other ArcBest news, SVP Michael E. Newcity sold 10,443 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $120.60, for a total value of $1,259,425.80. Following the completion of the transaction, the senior vice president now directly owns 5,051 shares in the company, valued at approximately $609,150.60. This represents a 67.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Craig E. Philip sold 3,900 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $109.91, for a total transaction of $428,649.00. Following the completion of the transaction, the director now owns 23,250 shares of the company’s stock, valued at $2,555,407.50. This trade represents a 14.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.65% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. R Squared Ltd purchased a new stake in shares of ArcBest in the 4th quarter worth about $40,000. KBC Group NV boosted its holdings in shares of ArcBest by 34.9% during the 4th 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 during the last quarter. Blue Trust Inc. boosted its holdings in shares of ArcBest by 146.3% during the 4th quarter. Blue Trust Inc. now owns 298 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 177 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of ArcBest by 12.5% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,726 shares of the transportation company’s stock valued at $348,000 after acquiring an additional 414 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC boosted its holdings in shares of ArcBest by 4.9% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 18,247 shares of the transportation company’s stock valued at $1,703,000 after acquiring an additional 849 shares during the last quarter. 99.27% of the stock is currently 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.