Wells Fargo & Company Issues Pessimistic Forecast for ArcBest (NASDAQ:ARCB) Stock Price

ArcBest (NASDAQ:ARCB - Get Free Report) had its target price dropped by investment analysts at Wells Fargo & Company from $105.00 to $96.00 in a report released on Monday,Benzinga reports. The firm currently has an "equal weight" rating on the transportation company's stock. Wells Fargo & Company's target price indicates a potential upside of 2.09% from the company's current price.

Other equities research analysts have also issued research reports about the company. Stifel Nicolaus lifted their price objective on ArcBest from $109.00 to $125.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. Morgan Stanley decreased their price objective on shares of ArcBest from $160.00 to $145.00 and set an "overweight" rating on the stock in a research report on Monday. Jefferies Financial Group cut their price target on shares of ArcBest from $140.00 to $130.00 and set a "buy" rating for the company in a research note on Thursday, October 10th. JPMorgan Chase & Co. dropped their price objective on shares of ArcBest from $130.00 to $117.00 and set a "neutral" rating for the company in a report on Monday, November 4th. Finally, Citigroup increased their target price on ArcBest from $110.00 to $127.00 and gave the company a "neutral" rating in a research note on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $118.91.

ArcBest Price Performance

ARCB traded down $1.61 during trading on Monday, reaching $94.04. 269,745 shares of the company were exchanged, compared to its average volume of 272,388. ArcBest has a 12-month low of $90.25 and a 12-month high of $153.60. The company's 50-day moving average is $100.17 and its two-hundred day moving average is $105.21. The company has a quick ratio of 1.04, a current ratio of 1.01 and a debt-to-equity ratio of 0.10. The company has a market cap of $2.20 billion, a price-to-earnings ratio of 12.83, a P/E/G ratio of 1.78 and a beta of 1.51.

ArcBest (NASDAQ:ARCB - Get Free Report) last released its quarterly earnings data on Friday, January 31st. The transportation company reported $1.33 EPS for the quarter, beating analysts' consensus estimates of $1.11 by $0.22. ArcBest had a net margin of 4.16% and a return on equity of 11.79%. During the same period last year, the company earned $2.47 earnings per share. Research analysts forecast that ArcBest will post 7.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Craig E. Philip sold 3,900 shares of ArcBest stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $109.91, for a total value of $428,649.00. Following the completion of the transaction, the director now owns 23,250 shares of the company's stock, valued at $2,555,407.50. The trade was a 14.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.65% of the stock is owned by company insiders.

Institutional Investors Weigh In On ArcBest

A number of institutional investors have recently made changes to their positions in the company. OneDigital Investment Advisors LLC boosted its position in shares of ArcBest by 3.5% during the third quarter. OneDigital Investment Advisors LLC now owns 2,509 shares of the transportation company's stock valued at $272,000 after buying an additional 86 shares during the last quarter. Avior Wealth Management LLC boosted its holdings in shares of ArcBest by 17.9% during the 3rd quarter. Avior Wealth Management LLC now owns 625 shares of the transportation company's stock valued at $68,000 after acquiring an additional 95 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of ArcBest by 4.0% in the third quarter. Nisa Investment Advisors LLC now owns 3,225 shares of the transportation company's stock worth $350,000 after acquiring an additional 124 shares during the period. Quarry LP raised its holdings in shares of ArcBest by 120.7% during the second quarter. Quarry LP now owns 245 shares of the transportation company's stock valued at $26,000 after purchasing an additional 134 shares during the last quarter. Finally, Stephens Inc. AR lifted its position in ArcBest by 2.1% during the fourth quarter. Stephens Inc. AR now owns 8,128 shares of the transportation company's stock valued at $758,000 after purchasing an additional 170 shares during the period. Hedge funds and other institutional investors 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.