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

ArcBest (NASDAQ:ARCB) had its target price increased by equities researchers at Stifel Nicolaus from $109.00 to $125.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the transportation company’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 24.91% from the stock’s previous close.

Several other research firms also recently weighed in on ARCB. Citigroup lifted their target price on ArcBest from $110.00 to $127.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. The Goldman Sachs Group dropped their price target on ArcBest from $133.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. StockNews.com upgraded ArcBest from a “hold” rating to a “buy” rating in a research report on Thursday, October 3rd. Wolfe Research lowered ArcBest from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, October 9th. Finally, Wells Fargo & Company dropped their target price on ArcBest from $115.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $125.00.

ArcBest Stock Performance

NASDAQ ARCB traded up $1.60 on Thursday, reaching $100.07. 13,187 shares of the stock were exchanged, compared to its average volume of 227,390. The firm has a market capitalization of $2.34 billion, a PE ratio of 12.32, a PEG 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 has a one year low of $91.01 and a one year high of $153.60. The company’s 50-day simple moving average is $102.87 and its two-hundred day simple moving average is $106.49.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings data on Friday, November 1st. The transportation company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.20). ArcBest had a net margin of 4.54% and a return on equity of 14.27%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the business earned $2.31 EPS. The company’s quarterly revenue was down 5.8% on a year-over-year basis. Analysts expect that ArcBest will post 6.02 EPS for the current fiscal year.

Insider Transactions at ArcBest

In related news, Director Craig E. Philip sold 3,900 shares of the firm’s stock in a transaction dated 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 directly owns 23,250 shares in the company, valued at $2,555,407.50. This trade represents a 14.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Michael E. Newcity sold 10,443 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now owns 5,051 shares of the company’s stock, valued at $609,150.60. This trade represents a 67.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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 company. Quarry LP increased its holdings in shares of ArcBest by 120.7% in the second quarter. Quarry LP now owns 245 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 134 shares during the period. Blue Trust Inc. grew its holdings in ArcBest by 146.3% during the fourth quarter. Blue Trust Inc. now owns 298 shares of the transportation company’s stock worth $28,000 after acquiring an additional 177 shares during the period. R Squared Ltd acquired a new position in ArcBest during the fourth quarter worth $40,000. GAMMA Investing LLC grew its holdings in ArcBest by 63.7% during the third quarter. GAMMA Investing LLC now owns 514 shares of the transportation company’s stock worth $56,000 after acquiring an additional 200 shares during the period. Finally, Quest Partners LLC grew its holdings in ArcBest by 60.6% during the third 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. 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.