ArcBest (NASDAQ:ARCB) Given New $178.00 Price Target at TD Cowen

ArcBest (NASDAQ:ARCBGet Free Report) had its price objective raised by analysts at TD Cowen from $141.00 to $178.00 in a report released on Wednesday, Briefing.com reports. The brokerage currently has an “outperform” rating on the transportation company’s stock. TD Cowen’s target price would suggest a potential upside of 28.45% from the stock’s current price.

Several other equities analysts have also issued reports on ARCB. Morgan Stanley raised their price target on ArcBest from $135.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, October 30th. StockNews.com upgraded ArcBest from a “hold” rating to a “buy” rating in a research report on Friday, January 26th. UBS Group lifted their price objective on ArcBest from $110.00 to $119.00 and gave the stock a “neutral” rating in a research report on Thursday, November 2nd. Stifel Nicolaus lifted their price objective on ArcBest from $136.00 to $153.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Finally, Deutsche Bank Aktiengesellschaft started coverage on ArcBest in a research report on Monday, January 29th. They issued a “buy” rating and a $148.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $133.36.

Get Our Latest Analysis on ArcBest

ArcBest Stock Performance

Shares of NASDAQ ARCB opened at $138.58 on Wednesday. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of 18.78 and a beta of 1.45. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.14. ArcBest has a 1-year low of $82.18 and a 1-year high of $144.00. The stock’s 50-day moving average is $118.37 and its 200 day moving average is $111.21.

ArcBest (NASDAQ:ARCBGet Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The transportation company reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.25. The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.09 billion. ArcBest had a return on equity of 16.35% and a net margin of 4.02%. ArcBest’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period last year, the firm posted $2.45 EPS. On average, sell-side analysts anticipate that ArcBest will post 7.62 EPS for the current fiscal year.

Insider Buying and Selling at ArcBest

In other ArcBest news, Director Janice E. Stipp sold 3,390 shares of ArcBest stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $122.42, for a total transaction of $415,003.80. Following the completion of the transaction, the director now owns 17,710 shares in the company, valued at $2,168,058.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.65% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of ArcBest by 2.1% in the first quarter. Vanguard Group Inc. now owns 2,714,834 shares of the transportation company’s stock worth $218,544,000 after purchasing an additional 55,946 shares during the last quarter. State Street Corp raised its stake in shares of ArcBest by 6.3% in the first quarter. State Street Corp now owns 1,067,783 shares of the transportation company’s stock worth $85,957,000 after purchasing an additional 63,476 shares during the last quarter. Morgan Stanley raised its stake in shares of ArcBest by 2.3% in the fourth quarter. Morgan Stanley now owns 568,392 shares of the transportation company’s stock worth $39,810,000 after purchasing an additional 12,534 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of ArcBest by 1.8% in the second quarter. Geode Capital Management LLC now owns 525,662 shares of the transportation company’s stock worth $51,935,000 after purchasing an additional 9,184 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of ArcBest by 9.4% in the third quarter. Northern Trust Corp now owns 458,090 shares of the transportation company’s stock worth $46,565,000 after acquiring an additional 39,215 shares during the period. Hedge funds and other institutional investors own 95.78% of the company’s stock.

About ArcBest

(Get Free Report)

ArcBest Corporation provides freight transportation and integrated logistics services. It operates through three segments: Asset-Based, ArcBest, and FleetNet. The Asset-Based segment transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, nonbulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products through less-than-truckload services.

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Analyst Recommendations for ArcBest (NASDAQ:ARCB)

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