ArcBest (NASDAQ:ARCB) Given New $117.00 Price Target at JPMorgan Chase & Co.

ArcBest (NASDAQ:ARCB) had its price target decreased by equities research analysts at JPMorgan Chase & Co. from $130.00 to $117.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 12.39% from the company’s current price.

Several other research analysts also recently commented on the company. Citigroup started coverage on ArcBest in a report on Wednesday, October 9th. They set a “neutral” rating and a $111.00 target price on the stock. Wolfe Research lowered ArcBest from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group decreased their target price on shares of ArcBest from $133.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Stifel Nicolaus dropped their price target on shares of ArcBest from $131.00 to $119.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Finally, Bank of America reduced their price objective on shares of ArcBest from $102.00 to $99.00 and set an “underperform” rating on the stock in a research note on Wednesday, September 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 data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $123.17.

ArcBest Stock Up 3.5 %

Shares of NASDAQ ARCB opened at $104.10 on Monday. ArcBest has a 1 year low of $94.76 and a 1 year high of $153.60. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.19. The firm has a market cap of $2.46 billion, a PE ratio of 12.85, a price-to-earnings-growth ratio of 1.31 and a beta of 1.47. The company has a 50 day simple moving average of $104.48 and a 200 day simple moving average of $109.45.

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 the consensus estimate of $1.84 by ($0.20). ArcBest had a net margin of 4.54% and a return on equity of 14.27%. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the business posted $2.31 EPS. ArcBest’s revenue was down 5.8% on a year-over-year basis. On average, research analysts forecast that ArcBest will post 6.89 EPS for the current year.

Insider Buying and Selling at ArcBest

In related news, Director Salvatore A. Abbate acquired 1,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were bought at an average price of $103.93 per share, with a total value of $103,930.00. Following the transaction, the director now directly owns 3,650 shares of the company’s stock, valued at $379,344.50. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.18% of the company’s stock.

Hedge Funds Weigh In On ArcBest

A number of institutional investors have recently modified their holdings of ARCB. UniSuper Management Pty Ltd bought a new stake in ArcBest during the 1st quarter valued at $666,000. Inspire Investing LLC lifted its position in ArcBest by 39.6% in the 1st quarter. Inspire Investing LLC now owns 15,002 shares of the transportation company’s stock valued at $2,138,000 after acquiring an additional 4,258 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in ArcBest by 54.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,660 shares of the transportation company’s stock valued at $2,945,000 after purchasing an additional 7,291 shares during the last quarter. Kennedy Capital Management LLC boosted its holdings in ArcBest by 235.3% during the 1st quarter. Kennedy Capital Management LLC now owns 33,482 shares of the transportation company’s stock worth $4,771,000 after acquiring an additional 23,497 shares during the last quarter. Finally, Impala Asset Management LLC bought a new stake in shares of ArcBest in the 2nd quarter worth $2,409,000. 99.27% of the stock is owned by institutional investors and hedge funds.

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.