UBS Group Lowers ArcBest (NASDAQ:ARCB) Price Target to $77.00

ArcBest (NASDAQ:ARCB) had its target price cut by UBS Group from $80.00 to $77.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the transportation company’s stock. UBS Group’s price target indicates a potential upside of 17.91% from the stock’s current price.

A number of other analysts also recently issued reports on the company. Zacks Research raised ArcBest to a “strong sell” rating in a report on Monday, August 11th. Wells Fargo & Company cut their price objective on shares of ArcBest from $80.00 to $74.00 and set an “equal weight” rating on the stock in a report on Thursday. Stephens downgraded shares of ArcBest from an “overweight” rating to an “equal weight” rating and set a $72.00 price objective for the company. in a research report on Thursday. Stifel Nicolaus boosted their price target on shares of ArcBest from $81.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, October 28th. Finally, Citigroup raised ArcBest from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $79.00 to $89.00 in a research note on Wednesday, October 8th. Six equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, ArcBest has an average rating of “Hold” and a consensus price target of $85.67.

ArcBest Stock Performance

ArcBest stock traded down $5.46 during trading hours on Thursday, hitting $65.31. 172,436 shares of the stock traded hands, compared to its average volume of 356,386. ArcBest has a 1 year low of $55.19 and a 1 year high of $122.10. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 9.73, a P/E/G ratio of 1.35 and a beta of 1.67. The firm’s 50 day moving average price is $72.24 and its 200-day moving average price is $71.33.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings results on Wednesday, November 5th. The transportation company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.09. ArcBest had a return on equity of 8.67% and a net margin of 3.90%.The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the business posted $1.64 earnings per share. ArcBest’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, equities analysts expect that ArcBest will post 7 EPS for the current fiscal year.

Hedge Funds Weigh In On ArcBest

Several hedge funds have recently bought and sold shares of ARCB. Teacher Retirement System of Texas grew its holdings in shares of ArcBest by 73.3% during the 1st quarter. Teacher Retirement System of Texas now owns 5,529 shares of the transportation company’s stock valued at $390,000 after purchasing an additional 2,339 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of ArcBest by 1.9% during the 1st quarter. Principal Financial Group Inc. now owns 116,304 shares of the transportation company’s stock worth $8,209,000 after buying an additional 2,115 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of ArcBest by 7.8% during the first quarter. Envestnet Asset Management Inc. now owns 40,522 shares of the transportation company’s stock valued at $2,860,000 after purchasing an additional 2,925 shares during the period. Crossmark Global Holdings Inc. raised its holdings in shares of ArcBest by 7.1% during the first quarter. Crossmark Global Holdings Inc. now owns 4,303 shares of the transportation company’s stock valued at $304,000 after purchasing an additional 285 shares during the period. Finally, Linden Thomas Advisory Services LLC increased its position in shares of ArcBest by 3.0% during the first quarter. Linden Thomas Advisory Services LLC now owns 18,788 shares of the transportation company’s stock worth $1,326,000 after acquiring an additional 541 shares in the last quarter. 99.27% of the stock is owned by institutional investors.

ArcBest Company Profile

ArcBest Corporation, an integrated logistics company, engages in the provision of ground, air, and ocean transportation solutions. It operates through two segments: Asset-Based and Asset-Light. The Asset-Based segment provides less-than-truckload (LTL) services, that transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, non-bulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products.