ArcBest (NASDAQ:ARCB) Price Target Cut to $105.00 by Analysts at Wells Fargo & Company

ArcBest (NASDAQ:ARCB) had its target price lowered by stock analysts at Wells Fargo & Company from $115.00 to $105.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the transportation company’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 10.57% from the company’s current price.

A number of other research analysts also recently weighed in on the company. Citigroup lifted their price target on ArcBest from $110.00 to $127.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. dropped their target price on ArcBest from $130.00 to $117.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. TD Cowen lowered shares of ArcBest from a “buy” rating to a “hold” rating and dropped their price objective for the company from $131.00 to $114.00 in a research note on Monday, October 14th. Jefferies Financial Group dropped their price target on shares of ArcBest from $140.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. Finally, UBS Group reduced their price objective on ArcBest from $111.00 to $110.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $124.50.

ArcBest Trading Down 1.8 %

ARCB traded down $1.74 during trading on Tuesday, reaching $94.96. The company had a trading volume of 31,904 shares, compared to its average volume of 208,508. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04. ArcBest has a 12-month low of $91.01 and a 12-month high of $153.60. The company has a market cap of $2.22 billion, a price-to-earnings ratio of 11.72, a PEG ratio of 2.56 and a beta of 1.53. The firm’s 50-day simple moving average is $105.77 and its 200 day simple moving average is $107.26.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings results on Friday, November 1st. The transportation company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.20). ArcBest had a net margin of 4.54% and a return on equity of 14.27%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the firm earned $2.31 EPS. The firm’s revenue was down 5.8% compared to the same quarter last year. Equities research analysts anticipate that ArcBest will post 6.06 earnings per share for the current year.

Insider Buying and Selling at ArcBest

In other news, SVP Michael E. Newcity sold 10,443 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $120.60, for a total value of $1,259,425.80. Following the completion of the sale, the senior vice president now owns 5,051 shares of the company’s stock, valued at approximately $609,150.60. This represents a 67.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Craig E. Philip sold 3,900 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $109.91, for a total transaction of $428,649.00. Following the completion of the sale, the director now owns 23,250 shares of the company’s stock, valued at approximately $2,555,407.50. This represents a 14.36 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.65% of the company’s stock.

Institutional Investors Weigh In On ArcBest

A number of large investors have recently added to or reduced their stakes in ARCB. Quarry LP lifted its stake in shares of ArcBest by 120.7% during the 2nd quarter. Quarry LP now owns 245 shares of the transportation company’s stock worth $26,000 after buying an additional 134 shares during the last quarter. Quest Partners LLC bought a new position in ArcBest in the 2nd quarter valued at about $36,000. GAMMA Investing LLC boosted its holdings in shares of 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. Avior Wealth Management LLC increased its stake in shares of ArcBest by 17.9% during the third quarter. Avior Wealth Management LLC now owns 625 shares of the transportation company’s stock worth $68,000 after purchasing an additional 95 shares during the period. Finally, KBC Group NV lifted its holdings in ArcBest by 36.8% during the 3rd quarter. KBC Group NV now owns 851 shares of the transportation company’s stock worth $92,000 after purchasing an additional 229 shares during the last quarter. 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.