ArcBest (NASDAQ:ARCB) Given New $81.00 Price Target at JPMorgan Chase & Co.

ArcBest (NASDAQ:ARCB) had its price target boosted by research analysts at JPMorgan Chase & Co. from $76.00 to $81.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s price target points to a potential downside of 10.22% from the stock’s previous close.

Several other research analysts have also issued reports on the company. Wells Fargo & Company set a $85.00 price target on ArcBest in a research report on Sunday. Bank of America boosted their target price on ArcBest from $72.00 to $84.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 23rd. Zacks Research upgraded shares of ArcBest from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. Weiss Ratings reissued a “hold (c-)” rating on shares of ArcBest in a research note on Wednesday, January 21st. Finally, Stifel Nicolaus upped their target price on shares of ArcBest from $85.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, January 21st. Six research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $95.33.

ArcBest Stock Up 5.8%

Shares of NASDAQ:ARCB opened at $90.22 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.95 and a quick ratio of 0.98. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of 34.57, a P/E/G ratio of 11.38 and a beta of 1.51. The company has a 50 day moving average of $78.85 and a 200-day moving average of $74.58. ArcBest has a one year low of $55.19 and a one year high of $103.14.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings data on Friday, January 30th. The transportation company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.09). ArcBest had a net margin of 1.50% and a return on equity of 6.51%. The business had revenue of $972.69 million during the quarter, compared to the consensus estimate of $963.74 million. During the same period in the previous year, the business posted $1.33 earnings per share. ArcBest’s revenue was down 2.9% compared to the same quarter last year. On average, sell-side analysts forecast that ArcBest will post 7 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. AMG National Trust Bank boosted its holdings in shares of ArcBest by 102.1% during the fourth quarter. AMG National Trust Bank now owns 24,349 shares of the transportation company’s stock worth $1,806,000 after acquiring an additional 12,300 shares during the period. UBS Group AG boosted its stake in ArcBest by 319.3% in the 4th quarter. UBS Group AG now owns 208,007 shares of the transportation company’s stock valued at $15,432,000 after purchasing an additional 158,403 shares during the period. Vanguard Group Inc. grew its holdings in ArcBest by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 2,451,162 shares of the transportation company’s stock valued at $181,852,000 after buying an additional 6,808 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in ArcBest by 4.0% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 38,343 shares of the transportation company’s stock valued at $2,849,000 after buying an additional 1,459 shares in the last quarter. Finally, KBC Group NV increased its position in ArcBest by 69.4% during the 4th quarter. KBC Group NV now owns 1,299 shares of the transportation company’s stock worth $96,000 after buying an additional 532 shares during the period. 99.27% of the stock is owned by institutional investors and hedge funds.

ArcBest Company Profile

ArcBest Corporation (NASDAQ: ARCB) is a transportation and logistics company that offers comprehensive freight and supply chain solutions across North America. Founded in 1923 as Arkansas Best Freight System, the company has evolved into a diversified service provider with both asset-based and asset-light operations. Its core businesses include less-than-truckload (LTL) shipping through ABF Freight, expedited full-truckload services via Panther Premium Logistics, and a range of logistics and supply chain management services under its ArcBest Integrated Logistics division.

The company’s asset-based operations also encompass FleetNet America, a provider of emergency roadside assistance and maintenance services for heavy-duty vehicles.