ArcBest (NASDAQ:ARCB) PT Lowered to $176.00 at Morgan Stanley

ArcBest (NASDAQ:ARCB) had its price target cut by investment analysts at Morgan Stanley from $180.00 to $176.00 in a research report issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the transportation company’s stock. Morgan Stanley’s price target suggests a potential upside of 67.54% from the company’s current price.

ARCB has been the topic of several other research reports. The Goldman Sachs Group upped their target price on ArcBest from $133.00 to $149.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Bank of America cut their target price on ArcBest from $143.00 to $110.00 and set an “underperform” rating on the stock in a research report on Wednesday, May 1st. JPMorgan Chase & Co. cut their target price on ArcBest from $164.00 to $145.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Wells Fargo & Company began coverage on ArcBest in a report on Friday, June 7th. They issued an “overweight” rating and a $140.00 price target on the stock. Finally, UBS Group cut their price target on ArcBest from $150.00 to $126.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, ArcBest has a consensus rating of “Moderate Buy” and a consensus target price of $143.69.

ArcBest Trading Down 3.1 %

NASDAQ ARCB opened at $105.05 on Monday. The business’s 50-day moving average price is $108.87 and its two-hundred day moving average price is $124.48. ArcBest has a 12 month low of $86.93 and a 12 month high of $153.60. The firm has a market capitalization of $2.46 billion, a PE ratio of 21.14, a price-to-earnings-growth ratio of 0.84 and a beta of 1.48. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.12.

ArcBest (NASDAQ:ARCB) last announced its earnings results on Tuesday, April 30th. The transportation company reported $1.34 EPS for the quarter, missing the consensus estimate of $1.53 by ($0.19). ArcBest had a net margin of 2.80% and a return on equity of 15.27%. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the company earned $1.58 EPS. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, analysts expect that ArcBest will post 8.54 EPS for the current year.

Institutional Trading of ArcBest

Institutional investors and hedge funds have recently modified their holdings of the stock. Jump Financial LLC purchased a new stake in shares of ArcBest in the fourth quarter worth approximately $811,000. Norges Bank purchased a new stake in shares of ArcBest during the fourth quarter valued at approximately $9,298,000. Wakefield Asset Management LLLP purchased a new stake in shares of ArcBest during the fourth quarter valued at approximately $806,000. The Manufacturers Life Insurance Company increased its position in shares of ArcBest by 20.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 154,972 shares of the transportation company’s stock valued at $18,629,000 after acquiring an additional 26,411 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of ArcBest by 10.5% during the third quarter. American Century Companies Inc. now owns 378,206 shares of the transportation company’s stock valued at $38,445,000 after acquiring an additional 35,968 shares during the last quarter. 99.27% of the stock is owned by hedge funds and other 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.