ArcBest (NASDAQ:ARCB – Get Free Report) had its price objective hoisted by Stifel Nicolaus from $109.00 to $125.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the transportation company’s stock. Stifel Nicolaus’ price target points to a potential upside of 26.92% from the company’s previous close.
Several other equities analysts also recently commented on ARCB. JPMorgan Chase & Co. lowered their price target on ArcBest from $130.00 to $117.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. The Goldman Sachs Group lowered their target price on shares of ArcBest from $133.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Wolfe Research lowered shares of ArcBest from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, October 9th. StockNews.com upgraded shares of ArcBest from a “hold” rating to a “buy” rating in a report on Thursday, October 3rd. Finally, UBS Group dropped their price objective on ArcBest from $111.00 to $110.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $125.00.
View Our Latest Stock Report on ArcBest
ArcBest Trading Down 1.7 %
ArcBest (NASDAQ:ARCB – Get Free Report) last posted its earnings results on Friday, November 1st. The transportation company reported $1.64 earnings per share 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 net margin of 4.54% and a return on equity of 14.27%. ArcBest’s quarterly revenue was down 5.8% on a year-over-year basis. During the same quarter last year, the business earned $2.31 earnings per share. On average, research analysts predict that ArcBest will post 6.02 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other ArcBest news, SVP Michael E. Newcity sold 10,443 shares of ArcBest stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $120.60, for a total transaction of $1,259,425.80. Following the sale, the senior vice president now directly owns 5,051 shares of the company’s stock, valued at approximately $609,150.60. The trade was a 67.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Craig E. Philip sold 3,900 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $109.91, for a total value of $428,649.00. Following the completion of the transaction, the director now directly owns 23,250 shares of the company’s stock, valued at approximately $2,555,407.50. The trade was 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 Trading of ArcBest
A number of large investors have recently bought and sold shares of the stock. XTX Topco Ltd grew its holdings in shares of ArcBest by 42.5% in the 2nd quarter. XTX Topco Ltd now owns 3,724 shares of the transportation company’s stock worth $399,000 after purchasing an additional 1,110 shares during the last quarter. Intech Investment Management LLC acquired a new position in ArcBest in the second quarter valued at about $599,000. Public Sector Pension Investment Board grew its stake in ArcBest by 6.4% during the second quarter. Public Sector Pension Investment Board now owns 51,604 shares of the transportation company’s stock worth $5,526,000 after buying an additional 3,098 shares during the last quarter. Evergreen Capital Management LLC increased its holdings in shares of ArcBest by 9.0% during the second quarter. Evergreen Capital Management LLC now owns 2,200 shares of the transportation company’s stock worth $236,000 after buying an additional 181 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in shares of ArcBest by 158.7% in the second quarter. Marshall Wace LLP now owns 191,987 shares of the transportation company’s stock valued at $20,558,000 after acquiring an additional 117,774 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.
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