Wells Fargo & Company Issues Pessimistic Forecast for ArcBest (NASDAQ:ARCB) Stock Price

ArcBest (NASDAQ:ARCB) had its price target decreased by investment analysts at Wells Fargo & Company from $80.00 to $74.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the transportation company’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 10.46% from the company’s previous close.

ARCB has been the topic of a number of other reports. Stephens lowered ArcBest from an “overweight” rating to an “equal weight” rating and set a $72.00 price objective on the stock. in a research report on Thursday. Citigroup raised ArcBest from a “neutral” rating to a “buy” rating and upped their price target for the company from $79.00 to $89.00 in a research note on Wednesday, October 8th. TD Cowen lowered their price objective on ArcBest from $67.00 to $64.00 and set a “hold” rating for the company in a research report on Thursday. Morgan Stanley dropped their price objective on ArcBest from $140.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, July 31st. Finally, Stifel Nicolaus raised their target price on shares of ArcBest from $81.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, October 28th. Six research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $85.67.

ArcBest Trading Up 3.0%

Shares of NASDAQ ARCB opened at $66.99 on Thursday. ArcBest has a 1-year low of $55.19 and a 1-year high of $122.10. The company has a 50-day moving average of $71.95 and a two-hundred day moving average of $71.34. The company has a market cap of $1.52 billion, a PE ratio of 9.97, a P/E/G ratio of 1.35 and a beta of 1.67. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.13.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings results on Wednesday, November 5th. The transportation company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.37 by $0.09. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.04 billion. ArcBest had a net margin of 3.90% and a return on equity of 8.67%. ArcBest’s revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.64 earnings per share. As a group, equities analysts expect that ArcBest will post 7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Signaturefd LLC increased its stake in ArcBest by 477.6% in the first quarter. Signaturefd LLC now owns 387 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 320 shares in the last quarter. Johnson Investment Counsel Inc. acquired a new position in shares of ArcBest in the 3rd quarter valued at $28,000. Farther Finance Advisors LLC increased its position in shares of ArcBest by 433.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 384 shares of the transportation company’s stock valued at $30,000 after buying an additional 312 shares in the last quarter. CWM LLC increased its position in shares of ArcBest by 338.8% in the 1st quarter. CWM LLC now owns 452 shares of the transportation company’s stock valued at $32,000 after buying an additional 349 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in ArcBest by 26.9% during the 3rd quarter. Smartleaf Asset Management LLC now owns 675 shares of the transportation company’s stock worth $47,000 after buying an additional 143 shares during the period. Institutional investors 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.