Stifel Nicolaus Reiterates $81.00 Price Target for ArcBest (NASDAQ:ARCB)

Key Points

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ArcBest (NASDAQ:ARCB - Get Free Report) has been given a $81.00 target price by equities researchers at Stifel Nicolaus in a research report issued to clients and investors on Thursday, MarketBeat reports. The firm presently has a "buy" rating on the transportation company's stock. Stifel Nicolaus' target price indicates a potential upside of 15.52% from the stock's previous close.

A number of other equities analysts have also recently issued reports on ARCB. JPMorgan Chase & Co. upped their price objective on ArcBest from $75.00 to $89.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. The Goldman Sachs Group upgraded ArcBest from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $84.00 to $101.00 in a report on Monday, June 2nd. Citigroup upped their price objective on ArcBest from $67.00 to $89.00 and gave the stock a "neutral" rating in a report on Wednesday, July 9th. Wells Fargo & Company cut their price objective on ArcBest from $90.00 to $80.00 and set an "equal weight" rating for the company in a report on Thursday. Finally, Wall Street Zen upgraded ArcBest from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $90.00.

ArcBest Price Performance

Shares of ARCB traded down $3.01 during trading hours on Thursday, reaching $70.12. 495,447 shares of the company's stock traded hands, compared to its average volume of 429,118. The stock has a market cap of $1.61 billion, a PE ratio of 10.43, a price-to-earnings-growth ratio of 0.79 and a beta of 1.69. The company has a current ratio of 0.96, a quick ratio of 1.00 and a debt-to-equity ratio of 0.13. The firm's 50 day simple moving average is $74.14 and its 200-day simple moving average is $75.36. ArcBest has a 12 month low of $55.19 and a 12 month high of $123.25.

ArcBest (NASDAQ:ARCB - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.36 earnings per share (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 firm had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.03 billion. During the same quarter in the previous year, the company posted $1.98 earnings per share. ArcBest's revenue for the quarter was down 5.1% compared to the same quarter last year. Equities analysts expect that ArcBest will post 7 EPS for the current year.

Institutional Investors Weigh In On ArcBest

A number of large investors have recently made changes to their positions in the business. Crossmark Global Holdings Inc. increased its stake in shares of ArcBest by 7.1% during the first quarter. Crossmark Global Holdings Inc. now owns 4,303 shares of the transportation company's stock valued at $304,000 after buying an additional 285 shares during the period. Janney Montgomery Scott LLC purchased a new position in shares of ArcBest during the first quarter valued at approximately $381,000. Elevation Point Wealth Partners LLC increased its stake in shares of ArcBest by 33.3% during the first quarter. Elevation Point Wealth Partners LLC now owns 3,053 shares of the transportation company's stock valued at $215,000 after buying an additional 762 shares during the period. GAMMA Investing LLC increased its stake in shares of ArcBest by 185.3% during the first quarter. GAMMA Investing LLC now owns 1,435 shares of the transportation company's stock valued at $101,000 after buying an additional 932 shares during the period. Finally, Norges Bank purchased a new position in shares of ArcBest during the fourth quarter valued at approximately $5,826,000. 99.27% of the stock is currently 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.