ArcBest (NASDAQ:ARCB - Get Free Report) had its price objective dropped by equities research analysts at Wells Fargo & Company from $90.00 to $80.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "equal weight" rating on the transportation company's stock. Wells Fargo & Company's target price suggests a potential upside of 9.79% from the company's current price.
A number of other research analysts have also weighed in on ARCB. Truist Financial decreased their target price on shares of ArcBest from $93.00 to $90.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Jefferies Financial Group restated a "buy" rating and issued a $85.00 price target (up previously from $75.00) on shares of ArcBest in a research note on Tuesday, June 10th. JPMorgan Chase & Co. boosted their target price on shares of ArcBest from $75.00 to $89.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Stifel Nicolaus raised their price target on ArcBest from $83.00 to $93.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Finally, Morgan Stanley reduced their price objective on ArcBest from $140.00 to $130.00 and set an "overweight" rating for the company in a research note on Thursday. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $90.00.
Read Our Latest Stock Analysis on ArcBest
ArcBest Price Performance
Shares of ARCB stock traded up $1.20 during mid-day trading on Thursday, hitting $72.87. 247,069 shares of the stock were exchanged, compared to its average volume of 379,428. The firm has a fifty day moving average of $73.73 and a 200 day moving average of $75.73. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.11. ArcBest has a 52-week low of $55.19 and a 52-week high of $129.83. The company has a market cap of $1.67 billion, a PE ratio of 9.63, a price-to-earnings-growth ratio of 0.87 and a beta of 1.71.
ArcBest (NASDAQ:ARCB - Get Free Report) last posted its earnings results on Wednesday, July 30th. The transportation company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.12). The firm had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.03 billion. ArcBest had a return on equity of 10.05% and a net margin of 4.37%. The company's revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.98 earnings per share. Research analysts anticipate that ArcBest will post 7 earnings per share for the current year.
Institutional Trading of ArcBest
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Farther Finance Advisors LLC raised its stake in shares of ArcBest by 433.3% in the 2nd 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. Signaturefd LLC boosted its stake in ArcBest by 477.6% during the 1st quarter. Signaturefd LLC now owns 387 shares of the transportation company's stock valued at $27,000 after purchasing an additional 320 shares during the period. CWM LLC lifted its stake in shares of ArcBest by 338.8% in the 1st quarter. CWM LLC now owns 452 shares of the transportation company's stock worth $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 2nd quarter worth approximately $51,000. Finally, Curat Global LLC acquired a new stake in shares of ArcBest in the 1st quarter worth approximately $82,000. 99.27% of the stock is owned by hedge funds and other institutional investors.
ArcBest Company Profile
(
Get Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider ArcBest, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and ArcBest wasn't on the list.
While ArcBest currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
