ArcBest (NASDAQ:ARCB) Given New $107.00 Price Target at Citigroup

ArcBest (NASDAQ:ARCB) had its price target hoisted by Citigroup from $105.00 to $107.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the transportation company’s stock. Citigroup’s price objective points to a potential upside of 18.70% from the stock’s previous close.

Several other equities research analysts have also issued reports on the stock. TD Cowen reiterated a “hold” rating on shares of ArcBest in a research note on Friday, January 9th. Stephens set a $85.00 price objective on shares of ArcBest in a research note on Tuesday, January 6th. Zacks Research upgraded ArcBest from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Jefferies Financial Group upped their target price on ArcBest from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Finally, JPMorgan Chase & Co. increased their price target on ArcBest from $76.00 to $81.00 and gave the company a “neutral” rating in a research report on Monday, February 2nd. Six equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $97.17.

ArcBest Stock Down 3.4%

NASDAQ ARCB traded down $3.14 during trading on Monday, hitting $90.14. The stock had a trading volume of 72,210 shares, compared to its average volume of 367,983. ArcBest has a 12 month low of $55.19 and a 12 month high of $112.92. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.95 and a current ratio of 0.95. The company’s 50-day moving average price is $94.61 and its two-hundred day moving average price is $79.49. The company has a market capitalization of $2.01 billion, a PE ratio of 34.54, a P/E/G ratio of 0.67 and a beta of 1.48.

ArcBest (NASDAQ:ARCB) last posted 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). The business had revenue of $972.69 million during the quarter, compared to analyst estimates of $963.74 million. ArcBest had a net margin of 1.50% and a return on equity of 6.51%. ArcBest’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter last year, the business earned $1.33 earnings per share. As a group, sell-side analysts forecast that ArcBest will post 7 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ARCB. AQR Capital Management LLC raised its stake in ArcBest by 300.3% in the 1st quarter. AQR Capital Management LLC now owns 26,896 shares of the transportation company’s stock valued at $1,898,000 after acquiring an additional 20,177 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in ArcBest by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,017 shares of the transportation company’s stock worth $989,000 after purchasing an additional 619 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of ArcBest by 215.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 153,138 shares of the transportation company’s stock valued at $10,808,000 after purchasing an additional 104,643 shares during the last quarter. Jane Street Group LLC increased its holdings in shares of ArcBest by 278.2% in the first quarter. Jane Street Group LLC now owns 45,591 shares of the transportation company’s stock valued at $3,218,000 after purchasing an additional 33,537 shares during the last quarter. Finally, Intech Investment Management LLC raised its position in shares of ArcBest by 3.4% in the first quarter. Intech Investment Management LLC now owns 20,135 shares of the transportation company’s stock valued at $1,421,000 after purchasing an additional 655 shares during the period. 99.27% of the stock is owned by institutional investors and hedge funds.

About ArcBest

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.