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

ArcBest (NASDAQ:ARCB) had its target price increased by equities researchers at Stifel Nicolaus from $73.00 to $85.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the transportation company’s stock. Stifel Nicolaus’ price target indicates a potential upside of 6.89% from the stock’s current price.

Several other research analysts have also weighed in on ARCB. Bank of America lowered their price objective on ArcBest from $73.00 to $72.00 and set a “neutral” rating for the company in a research report on Tuesday, December 2nd. Citigroup decreased their target price on ArcBest from $87.00 to $83.00 and set a “buy” rating for the company in a research note on Tuesday, December 2nd. TD Cowen lowered their target price on ArcBest from $67.00 to $64.00 and set a “hold” rating for the company in a report on Thursday, November 6th. UBS Group dropped their price target on ArcBest from $80.00 to $77.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of ArcBest in a research report on Wednesday, October 8th. Six investment 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. Based on data from MarketBeat.com, ArcBest has an average rating of “Hold” and an average price target of $85.00.

ArcBest Stock Up 0.5%

Shares of NASDAQ ARCB opened at $79.52 on Tuesday. The company’s 50 day moving average price is $69.82 and its 200-day moving average price is $72.34. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.98 and a current ratio of 0.98. ArcBest has a 52-week low of $55.19 and a 52-week high of $107.97. The company has a market capitalization of $1.79 billion, a P/E ratio of 18.89, a price-to-earnings-growth ratio of 11.25 and a beta of 1.52.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings data on Wednesday, November 5th. The transportation company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.09. ArcBest had a net margin of 2.41% and a return on equity of 8.24%. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the prior year, the company posted $1.64 earnings per share. ArcBest’s revenue for the quarter was down 1.4% compared to the same quarter last year. Equities analysts forecast that ArcBest will post 7 earnings per share for the current year.

Institutional Trading of ArcBest

Several hedge funds have recently bought and sold shares of the business. Turtle Creek Asset Management Inc. bought a new position in ArcBest in the 3rd quarter valued at about $39,508,000. Ameriprise Financial Inc. raised its stake in shares of ArcBest by 158.7% in the second quarter. Ameriprise Financial Inc. now owns 490,064 shares of the transportation company’s stock worth $37,740,000 after purchasing an additional 300,642 shares during the last quarter. Nuveen LLC purchased a new stake in shares of ArcBest in the first quarter worth approximately $18,460,000. Ancora Advisors LLC lifted its holdings in shares of ArcBest by 1,812.9% in the first quarter. Ancora Advisors LLC now owns 204,587 shares of the transportation company’s stock valued at $14,440,000 after purchasing an additional 193,892 shares in the last quarter. Finally, Two Sigma Investments LP boosted its holdings in ArcBest by 145.9% during the 3rd quarter. Two Sigma Investments LP now owns 281,803 shares of the transportation company’s stock worth $19,690,000 after acquiring an additional 167,200 shares during the last quarter. 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.