ArcBest (NASDAQ:ARCB) Price Target Cut to $146.00 by Analysts at UBS Group

ArcBest (NASDAQ:ARCB) had its price objective cut by analysts at UBS Group from $154.00 to $146.00 in a report released on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the transportation company’s stock. UBS Group‘s price target points to a potential upside of 9.29% from the company’s previous close.

Several other research firms have also recently commented on ARCB. Citigroup raised their target price on ArcBest from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday. Wall Street Zen raised ArcBest from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 31st. JPMorgan Chase & Co. increased their price target on ArcBest from $158.00 to $164.00 and gave the stock a “neutral” rating in a report on Thursday. The Goldman Sachs Group reaffirmed a “buy” rating and set a $172.00 price objective on shares of ArcBest in a research report on Wednesday, July 29th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of ArcBest in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $153.54.

ArcBest Stock Performance

Shares of ArcBest stock opened at $133.59 on Thursday. The company has a current ratio of 1.00, a quick ratio of 0.97 and a debt-to-equity ratio of 0.08. The business has a 50-day moving average price of $131.41 and a two-hundred day moving average price of $125.14. ArcBest has a 1-year low of $59.43 and a 1-year high of $176.69. The company has a market cap of $2.99 billion, a P/E ratio of 24.52, a PEG ratio of 0.42 and a beta of 1.71.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings data on Wednesday, November 4th. The transportation company reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.12. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.20 billion. ArcBest had a return on equity of 9.93% and a net margin of 0.66%. The business’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period last year, the company posted $1.46 EPS. As a group, analysts anticipate that ArcBest will post 7.12 EPS for the current year.

Insider Buying and Selling

In related news, VP Jason Parks sold 855 shares of the business’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $135.09, for a total value of $115,501.95. Following the completion of the sale, the vice president directly owned 3,794 shares of the company’s stock, valued at $512,531.46. The trade was a 18.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.98% of the stock is owned by insiders.

Institutional Investors Weigh In On ArcBest

A number of hedge funds have recently added to or reduced their stakes in ARCB. Maryland State Retirement & Pension System increased its holdings in shares of ArcBest by 54.7% during the third quarter. Maryland State Retirement & Pension System now owns 5,013 shares of the transportation company’s stock valued at $639,000 after acquiring an additional 1,773 shares in the last quarter. Ritholtz Wealth Management raised its position in shares of ArcBest by 9.3% during the third quarter. Ritholtz Wealth Management now owns 6,291 shares of the transportation company’s stock worth $802,000 after purchasing an additional 533 shares during the period. Illinois Municipal Retirement Fund lifted its holdings in shares of ArcBest by 18.8% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 11,617 shares of the transportation company’s stock worth $1,480,000 after purchasing an additional 1,835 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of ArcBest by 39.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 28,916 shares of the transportation company’s stock worth $3,748,000 after purchasing an additional 8,244 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its position in ArcBest by 7.3% in the 3rd quarter. Pictet Asset Management Holding SA now owns 3,343 shares of the transportation company’s stock valued at $426,000 after purchasing an additional 227 shares during the period. Institutional investors and hedge funds own 99.27% of the company’s stock.

ArcBest Company Profile

ArcBest Corporation (NASDAQ: ARCB) is a multibillion-dollar logistics company headquartered in Fort Smith, Arkansas. The company provides freight transportation and supply chain solutions through a combination of asset-based and asset-light operations, serving businesses across North America and supporting select international shipping needs.

Its asset-based business is led by ABF Freight, a less-than-truckload carrier that transports palletized and industrial freight. ArcBest also offers expedited transportation, truckload and brokerage services, intermodal transportation, managed transportation, warehouse and distribution support, and supply chain consulting.