JPMorgan Chase & Co. Has Lowered Expectations for ArcBest (NASDAQ:ARCB) Stock Price

ArcBest (NASDAQ:ARCB) had its price target cut by investment analysts at JPMorgan Chase & Co. from $130.00 to $117.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a “neutral” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 14.65% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Stifel Nicolaus cut their price target on ArcBest from $131.00 to $119.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Wells Fargo & Company reduced their target price on ArcBest from $112.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Monday. Bank of America dropped their price target on ArcBest from $102.00 to $99.00 and set an “underperform” rating for the company in a research report on Wednesday, September 4th. Wolfe Research downgraded ArcBest from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, October 9th. Finally, Morgan Stanley dropped their price objective on ArcBest from $175.00 to $170.00 and set an “overweight” rating for the company in a research report on Monday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $124.50.

ArcBest Price Performance

ARCB stock traded up $2.03 on Monday, reaching $102.05. 38,236 shares of the company’s stock were exchanged, compared to its average volume of 284,115. The stock has a fifty day moving average of $104.68 and a 200-day moving average of $109.94. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.12. The firm has a market cap of $2.41 billion, a PE ratio of 18.86, a P/E/G ratio of 1.36 and a beta of 1.47. ArcBest has a twelve month low of $94.76 and a twelve month high of $153.60.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings results on Friday, November 1st. The transportation company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.20). The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.07 billion. ArcBest had a net margin of 2.96% and a return on equity of 15.98%. ArcBest’s revenue was down 5.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.31 earnings per share. As a group, equities analysts predict that ArcBest will post 6.89 EPS for the current fiscal year.

Insider Transactions at ArcBest

In other news, Director Salvatore A. Abbate purchased 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average cost of $103.93 per share, for a total transaction of $103,930.00. Following the completion of the purchase, the director now owns 3,650 shares of the company’s stock, valued at approximately $379,344.50. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.65% of the company’s stock.

Institutional Investors Weigh In On ArcBest

Several institutional investors have recently bought and sold shares of ARCB. Westwood Holdings Group Inc. boosted its position in shares of ArcBest by 34.7% in the 2nd quarter. Westwood Holdings Group Inc. now owns 583,762 shares of the transportation company’s stock valued at $62,509,000 after purchasing an additional 150,467 shares during the period. American Century Companies Inc. lifted its position in ArcBest by 4.0% in the second quarter. American Century Companies Inc. now owns 525,471 shares of the transportation company’s stock worth $56,267,000 after purchasing an additional 20,115 shares during the period. Marshall Wace LLP grew its stake in shares of ArcBest by 158.7% in the 2nd quarter. Marshall Wace LLP now owns 191,987 shares of the transportation company’s stock valued at $20,558,000 after purchasing an additional 117,774 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of ArcBest by 0.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 150,742 shares of the transportation company’s stock worth $16,141,000 after purchasing an additional 1,214 shares in the last quarter. Finally, FAS Wealth Partners Inc. boosted its stake in ArcBest by 86.3% in the second quarter. FAS Wealth Partners Inc. now owns 80,050 shares of the transportation company’s stock worth $8,572,000 after purchasing an additional 37,073 shares in the last quarter. Institutional investors and hedge funds own 99.27% of the company’s stock.

ArcBest Company Profile

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.