JPMorgan Chase & Co. Downgrades ArcBest (NASDAQ:ARCB) to Neutral

ArcBest (NASDAQ:ARCB) was downgraded by stock analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a report issued on Tuesday, Marketbeat reports. They presently have a $127.00 price target on the transportation company’s stock, down from their prior price target of $145.00. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 18.45% from the company’s current price.

Several other equities research analysts have also recently commented on the company. The Goldman Sachs Group lifted their target price on ArcBest from $133.00 to $149.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Stifel Nicolaus lowered their price objective on ArcBest from $159.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. UBS Group cut their target price on shares of ArcBest from $150.00 to $126.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. StockNews.com cut shares of ArcBest from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Finally, Wells Fargo & Company started coverage on shares of ArcBest in a research note on Friday, June 7th. They set an “overweight” rating and a $140.00 price target for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, ArcBest currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.69.

ArcBest Stock Up 2.1 %

Shares of NASDAQ ARCB opened at $107.22 on Tuesday. ArcBest has a 12-month low of $86.93 and a 12-month high of $153.60. The firm’s 50-day simple moving average is $108.85 and its 200 day simple moving average is $124.36. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.12. The company has a market cap of $2.51 billion, a price-to-earnings ratio of 21.57, a price-to-earnings-growth ratio of 0.84 and a beta of 1.48.

ArcBest (NASDAQ:ARCB) last announced its earnings results on Tuesday, April 30th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.19). The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. ArcBest had a return on equity of 15.27% and a net margin of 2.80%. ArcBest’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.58 earnings per share. On average, research analysts expect that ArcBest will post 8.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ARCB. Contravisory Investment Management Inc. raised its holdings in shares of ArcBest by 70.9% during the first quarter. Contravisory Investment Management Inc. now owns 188 shares of the transportation company’s stock worth $27,000 after acquiring an additional 78 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of ArcBest by 49.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 227 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 75 shares during the period. GAMMA Investing LLC bought a new stake in shares of ArcBest in the fourth quarter valued at about $39,000. Parallel Advisors LLC raised its position in ArcBest by 45.8% in the 4th quarter. Parallel Advisors LLC now owns 363 shares of the transportation company’s stock valued at $44,000 after buying an additional 114 shares during the last quarter. Finally, Mather Group LLC. acquired a new stake in shares of ArcBest in the second quarter valued at approximately $46,000. 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.