Stifel Nicolaus Has Lowered Expectations for ArcBest (NASDAQ:ARCB) Stock Price

Key Points

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ArcBest (NASDAQ:ARCB - Get Free Report) had its price objective lowered by Stifel Nicolaus from $93.00 to $81.00 in a research report issued to clients and investors on Thursday, July 31st, Marketbeat Ratings reports. The brokerage currently has a "buy" rating on the transportation company's stock. Stifel Nicolaus' price target would suggest a potential upside of 14.23% from the stock's previous close.

A number of other equities research analysts also recently weighed in on ARCB. Citigroup raised their target price on ArcBest from $67.00 to $89.00 and gave the company a "neutral" rating in a report on Wednesday, July 9th. Wells Fargo & Company reduced their target price on ArcBest from $90.00 to $80.00 and set an "equal weight" rating on the stock in a report on Thursday, July 31st. Bank of America raised ArcBest from an "underperform" rating to a "neutral" rating and raised their target price for the company from $63.00 to $74.00 in a report on Tuesday, June 10th. Morgan Stanley reduced their target price on ArcBest from $140.00 to $130.00 and set an "overweight" rating on the stock in a report on Thursday, July 31st. Finally, The Goldman Sachs Group upgraded ArcBest from a "neutral" rating to a "buy" rating and increased their price target for the company from $84.00 to $101.00 in a research note on Monday, June 2nd. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $90.00.

ArcBest Price Performance

NASDAQ:ARCB traded down $0.74 during trading hours on Thursday, reaching $70.91. 191,952 shares of the company were exchanged, compared to its average volume of 430,057. The company has a market capitalization of $1.61 billion, a P/E ratio of 10.55, a P/E/G ratio of 0.82 and a beta of 1.69. ArcBest has a 1-year low of $55.19 and a 1-year high of $123.25. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.96 and a quick ratio of 1.00. The business has a 50 day moving average of $75.10 and a 200 day moving average of $74.23.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in ArcBest by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 2,771,123 shares of the transportation company's stock worth $258,601,000 after purchasing an additional 20,665 shares during the last quarter. Alliancebernstein L.P. raised its position in ArcBest by 3.6% during the 1st quarter. Alliancebernstein L.P. now owns 2,664,431 shares of the transportation company's stock worth $188,056,000 after purchasing an additional 92,514 shares during the last quarter. Westwood Holdings Group Inc. raised its position in ArcBest by 36.7% during the 1st quarter. Westwood Holdings Group Inc. now owns 869,267 shares of the transportation company's stock worth $61,353,000 after purchasing an additional 233,409 shares during the last quarter. American Century Companies Inc. raised its position in ArcBest by 11.5% during the 1st quarter. American Century Companies Inc. now owns 689,895 shares of the transportation company's stock worth $48,693,000 after purchasing an additional 70,976 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in ArcBest by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 565,739 shares of the transportation company's stock worth $43,573,000 after acquiring an additional 4,048 shares during the period. 99.27% of the stock is owned by institutional investors.

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.