ArcBest (NASDAQ:ARCB) Given New $87.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has increased their price target for ArcBest from $85.00 to $87.00, indicating a potential upside of 14.38% from the company's previous close.
• ArcBest reported earnings of $1.36 EPS for the quarter, missing analysts' estimates and showing a 5.1% revenue decline compared to the same quarter last year.
• Currently, ArcBest has an average rating of "Hold" among analysts, with seven giving a Buy rating and an average price target of $90.00.

ArcBest (NASDAQ:ARCB - Get Free Report) had its price objective upped by research analysts at JPMorgan Chase & Co. from $85.00 to $87.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "neutral" rating on the transportation company's stock. JPMorgan Chase & Co.'s price target points to a potential upside of 14.38% from the company's previous close.

ARCB has been the subject of a number of other reports. Stifel Nicolaus dropped their price target on shares of ArcBest from $93.00 to $81.00 and set a "buy" rating for the company in a research report on Thursday, July 31st. Bank of America raised shares of ArcBest from an "underperform" rating to a "neutral" rating and upped their price target for the company from $63.00 to $74.00 in a research note on Tuesday, June 10th. TD Cowen decreased their price target on shares of ArcBest from $72.00 to $67.00 and set a "hold" rating on the stock in a research note on Wednesday, October 1st. Citigroup raised shares of ArcBest from a "neutral" rating to a "buy" rating and increased their target price for the company from $79.00 to $89.00 in a research note on Wednesday. Finally, Cowen reissued a "hold" rating on shares of ArcBest in a research note on Wednesday, October 1st. Seven research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $90.00.

ArcBest Stock Performance

Shares of ARCB stock traded up $3.96 during trading hours on Wednesday, reaching $76.06. The company had a trading volume of 440,153 shares, compared to its average volume of 365,621. The business has a fifty day moving average price of $72.05 and a 200-day moving average price of $70.29. ArcBest has a one year low of $55.19 and a one year high of $123.25. The firm has a market cap of $1.73 billion, a PE ratio of 11.32, a price-to-earnings-growth ratio of 1.32 and a beta of 1.66. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.96 and a current ratio of 0.96.

ArcBest (NASDAQ:ARCB - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.36 EPS for the quarter, missing analysts' consensus estimates of $1.48 by ($0.12). ArcBest had a return on equity of 8.67% and a net margin of 3.90%.The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the firm earned $1.98 earnings per share. The business's revenue was down 5.1% compared to the same quarter last year. Sell-side analysts predict that ArcBest will post 7 earnings per share for the current fiscal year.

Institutional Trading of ArcBest

Institutional investors and hedge funds have recently bought and sold shares of the stock. Signaturefd LLC increased its stake in ArcBest by 477.6% during the first quarter. Signaturefd LLC now owns 387 shares of the transportation company's stock worth $27,000 after purchasing an additional 320 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of ArcBest by 433.3% in the second quarter. Farther Finance Advisors LLC now owns 384 shares of the transportation company's stock valued at $30,000 after acquiring an additional 312 shares during the period. CWM LLC boosted its holdings in shares of ArcBest by 338.8% in the first quarter. CWM LLC now owns 452 shares of the transportation company's stock valued at $32,000 after acquiring an additional 349 shares during the period. FNY Investment Advisers LLC acquired a new stake in shares of ArcBest in the second quarter valued at approximately $51,000. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of ArcBest during the second quarter worth approximately $85,000. 99.27% of the stock is currently 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.

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