The Goldman Sachs Group Increases ArcBest (NASDAQ:ARCB) Price Target to $149.00

ArcBest (NASDAQ:ARCB) had its target price increased by analysts at The Goldman Sachs Group from $133.00 to $149.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the transportation company’s stock. The Goldman Sachs Group’s target price would indicate a potential upside of 0.51% from the company’s previous close.

Several other research analysts also recently commented on the stock. Morgan Stanley boosted their price objective on shares of ArcBest from $155.00 to $175.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of ArcBest in a report on Monday, January 29th. They set a “buy” rating and a $148.00 price target for the company. Stifel Nicolaus upped their price target on shares of ArcBest from $153.00 to $159.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. JPMorgan Chase & Co. lowered their price target on shares of ArcBest from $168.00 to $164.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, StockNews.com upgraded shares of ArcBest from a “hold” rating to a “buy” rating in a report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $148.85.

ArcBest Stock Down 2.0 %

Shares of ARCB opened at $148.25 on Thursday. ArcBest has a one year low of $82.18 and a one year high of $153.60. The company has a market cap of $3.48 billion, a P/E ratio of 18.74, a P/E/G ratio of 0.63 and a beta of 1.49. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.26 and a quick ratio of 1.26. The firm has a 50 day simple moving average of $138.99 and a two-hundred day simple moving average of $121.75.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings data on Tuesday, February 6th. The transportation company reported $2.47 EPS for the quarter, beating the consensus estimate of $2.22 by $0.25. ArcBest had a net margin of 4.41% and a return on equity of 15.91%. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the business earned $2.45 earnings per share. The company’s revenue was down 6.4% on a year-over-year basis. Research analysts forecast that ArcBest will post 10.16 EPS for the current fiscal year.

Insider Buying and Selling at ArcBest

In other ArcBest news, insider Erin K. Gattis sold 2,000 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $141.58, for a total transaction of $283,160.00. Following the sale, the insider now owns 32,247 shares of the company’s stock, valued at $4,565,530.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.18% of the company’s stock.

Institutional Trading of ArcBest

A number of institutional investors have recently bought and sold shares of ARCB. EverSource Wealth Advisors LLC lifted its position in ArcBest by 49.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 227 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 75 shares in the last quarter. BOKF NA boosted its stake in ArcBest by 5.1% during the 4th quarter. BOKF NA now owns 1,643 shares of the transportation company’s stock valued at $198,000 after purchasing an additional 80 shares during the last quarter. Horrell Capital Management Inc. boosted its stake in ArcBest by 0.3% during the 4th quarter. Horrell Capital Management Inc. now owns 29,224 shares of the transportation company’s stock valued at $3,513,000 after purchasing an additional 94 shares during the last quarter. SummerHaven Investment Management LLC boosted its stake in ArcBest by 1.3% during the 4th quarter. SummerHaven Investment Management LLC now owns 7,572 shares of the transportation company’s stock valued at $910,000 after purchasing an additional 96 shares during the last quarter. Finally, Kestra Advisory Services LLC boosted its stake in ArcBest by 2.8% during the 4th quarter. Kestra Advisory Services LLC now owns 3,656 shares of the transportation company’s stock valued at $440,000 after purchasing an additional 101 shares during the last quarter. Institutional investors own 99.27% of the company’s stock.

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.