ArcBest (NASDAQ:ARCB) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

ArcBest (NASDAQ:ARCB) had its target price boosted by equities research analysts at Stifel Nicolaus from $73.00 to $85.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the transportation company’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 8.54% from the company’s current price.

ARCB has been the subject of several other reports. Cowen reissued a “hold” rating on shares of ArcBest in a report on Wednesday, October 1st. UBS Group dropped their target price on ArcBest from $80.00 to $77.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. Bank of America dropped their price objective on shares of ArcBest from $73.00 to $72.00 and set a “neutral” rating on the stock in a report on Tuesday, December 2nd. TD Cowen reduced their target price on shares of ArcBest from $67.00 to $64.00 and set a “hold” rating for the company in a report on Thursday, November 6th. Finally, Wells Fargo & Company cut their price target on ArcBest from $80.00 to $74.00 and set an “equal weight” rating for the company in a report on Thursday, November 6th. Six equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, ArcBest currently has a consensus rating of “Hold” and an average target price of $85.00.

ArcBest Stock Up 1.5%

NASDAQ ARCB traded up $1.13 during mid-day trading on Tuesday, reaching $78.32. The stock had a trading volume of 79,645 shares, compared to its average volume of 355,157. The stock has a market cap of $1.76 billion, a PE ratio of 18.57, a price-to-earnings-growth ratio of 10.87 and a beta of 1.52. The company has a fifty day moving average price of $69.61 and a 200 day moving average price of $72.18. ArcBest has a 1 year low of $55.19 and a 1 year high of $108.81. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.98 and a quick ratio of 0.98.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings results on Wednesday, November 5th. The transportation company reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.09. ArcBest had a return on equity of 8.24% and a net margin of 2.41%.The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the prior year, the company posted $1.64 earnings per share. The company’s quarterly revenue was down 1.4% on a year-over-year basis. On average, research analysts expect that ArcBest will post 7 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Johnson Investment Counsel Inc. bought a new stake in ArcBest in the 3rd quarter valued at $28,000. Farther Finance Advisors LLC grew its holdings in shares of ArcBest by 433.3% in the second quarter. Farther Finance Advisors LLC now owns 384 shares of the transportation company’s stock worth $30,000 after purchasing an additional 312 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of ArcBest by 26.9% in 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. FNY Investment Advisers LLC purchased a new position in ArcBest during the second quarter valued at approximately $51,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of ArcBest in the second quarter valued at about $85,000. 99.27% of the stock is currently owned by institutional investors.

About ArcBest

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.