TD Cowen Issues Pessimistic Forecast for ArcBest (NASDAQ:ARCB) Stock Price

Key Points

• TD Cowen has lowered its price target for ArcBest (NASDAQ:ARCB) from $72.00 to $67.00, reflecting a potential downside of 4.11% from the current stock price and maintaining a "hold" rating.
• ArcBest's recent earnings report showed a miss in earnings per share at $1.36, falling short of the consensus estimate of $1.48, and revenue declined by 5.1% compared to last year.
• The stock currently has an average rating of "Hold" among analysts, with a consensus target price of $89.33, indicating a mixed outlook from various research firms.

ArcBest (NASDAQ:ARCB - Get Free Report) had its price target reduced by stock analysts at TD Cowen from $72.00 to $67.00 in a research report issued on Wednesday. The firm currently has a "hold" rating on the transportation company's stock. TD Cowen's target price would indicate a potential downside of 4.11% from the company's current price.

A number of other research analysts have also commented on the stock. Zacks Research upgraded shares of ArcBest to a "strong sell" rating in a research note on Monday, August 11th. Citigroup decreased their target price on shares of ArcBest from $83.00 to $79.00 and set a "neutral" rating for the company in a research note on Wednesday, September 10th. Wells Fargo & Company reduced their price objective on shares of ArcBest from $90.00 to $80.00 and set an "equal weight" rating for the company in a research note on Thursday, July 31st. Bank of America raised shares of ArcBest from an "underperform" rating to a "neutral" rating and upped their target price for the company from $63.00 to $74.00 in a research note on Tuesday, June 10th. Finally, Jefferies Financial Group reiterated a "buy" rating and set a $85.00 target price (up from $75.00) on shares of ArcBest in a research report on Tuesday, June 10th. Six equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $89.33.

ArcBest Stock Performance

ARCB opened at $69.87 on Wednesday. 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 0.96. The stock's 50 day simple moving average is $73.35 and its 200 day simple moving average is $70.34. The stock has a market cap of $1.59 billion, a P/E ratio of 10.40, a P/E/G ratio of 1.23 and a beta of 1.69.

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 the consensus estimate of $1.48 by ($0.12). The firm had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.03 billion. ArcBest had a return on equity of 8.67% and a net margin of 3.90%.The company's quarterly revenue was down 5.1% compared to the same quarter last year. During the same period last year, the business posted $1.98 earnings per share. As a group, equities analysts anticipate that ArcBest will post 7 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ARCB. Alliancebernstein L.P. grew its position in ArcBest by 3.6% during the first quarter. Alliancebernstein L.P. now owns 2,664,431 shares of the transportation company's stock valued at $188,056,000 after buying an additional 92,514 shares during the period. Westwood Holdings Group Inc. lifted its holdings in shares of ArcBest by 36.7% in the first quarter. Westwood Holdings Group Inc. now owns 869,267 shares of the transportation company's stock worth $61,353,000 after buying an additional 233,409 shares in the last quarter. American Century Companies Inc. raised its stake in ArcBest by 8.1% in the second quarter. American Century Companies Inc. now owns 745,671 shares of the transportation company's stock valued at $57,424,000 after purchasing an additional 55,776 shares in the last quarter. Geode Capital Management LLC raised its stake in ArcBest by 0.7% in the second quarter. Geode Capital Management LLC now owns 565,739 shares of the transportation company's stock valued at $43,573,000 after purchasing an additional 4,048 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in ArcBest by 158.7% in the second quarter. Ameriprise Financial Inc. now owns 490,064 shares of the transportation company's stock valued at $37,740,000 after purchasing an additional 300,642 shares in the last quarter. Institutional investors and hedge funds 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.

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