Deutsche Bank Aktiengesellschaft initiated coverage on shares of ArcBest (NASDAQ:ARCB – Free Report) in a research report released on Monday, MarketBeat Ratings reports. The firm issued a buy rating and a $148.00 price target on the transportation company’s stock.
Several other equities analysts have also recently weighed in on the stock. Morgan Stanley raised their target price on shares of ArcBest from $135.00 to $145.00 and gave the company an overweight rating in a research note on Monday, October 30th. Bank of America decreased their target price on shares of ArcBest from $110.00 to $108.00 and set an underperform rating for the company in a research note on Monday, October 9th. Stifel Nicolaus raised their target price on shares of ArcBest from $136.00 to $153.00 and gave the company a buy rating in a research note on Wednesday, January 10th. UBS Group lifted their price objective on shares of ArcBest from $110.00 to $119.00 and gave the stock a neutral rating in a research report on Thursday, November 2nd. Finally, Citigroup reduced their price objective on shares of ArcBest from $137.00 to $130.00 and set a buy rating for the company in a research report on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $128.73.
ArcBest Price Performance
In other news, Director Janice E. Stipp sold 3,390 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $122.42, for a total value of $415,003.80. Following the completion of the sale, the director now owns 17,710 shares of the company’s stock, valued at $2,168,058.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.65% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Horrell Capital Management Inc. raised its stake in ArcBest by 0.3% during the fourth quarter. Horrell Capital Management Inc. now owns 29,224 shares of the transportation company’s stock worth $3,513,000 after acquiring an additional 94 shares in the last quarter. Handelsbanken Fonder AB increased its stake in shares of ArcBest by 1.8% in the second quarter. Handelsbanken Fonder AB now owns 5,700 shares of the transportation company’s stock valued at $563,000 after buying an additional 100 shares during the period. Captrust Financial Advisors increased its stake in shares of ArcBest by 2.6% in the second quarter. Captrust Financial Advisors now owns 4,116 shares of the transportation company’s stock valued at $407,000 after buying an additional 104 shares during the period. National Bank of Canada FI increased its stake in shares of ArcBest by 21.5% in the second quarter. National Bank of Canada FI now owns 729 shares of the transportation company’s stock valued at $72,000 after buying an additional 129 shares during the period. Finally, Guidance Capital Inc. increased its stake in shares of ArcBest by 4.9% in the third quarter. Guidance Capital Inc. now owns 2,785 shares of the transportation company’s stock valued at $274,000 after buying an additional 131 shares during the period. Institutional investors and hedge funds own 95.78% of the company’s stock.
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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