UBS Group Cuts ArcBest (NASDAQ:ARCB) Price Target to $100.00

ArcBest (NASDAQ:ARCB) had its price target decreased by analysts at UBS Group from $110.00 to $100.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the transportation company’s stock. UBS Group’s target price points to a potential upside of 6.76% from the company’s previous close.

Several other brokerages also recently issued reports on ARCB. Citigroup raised their price objective on shares of ArcBest from $110.00 to $127.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. The Goldman Sachs Group dropped their price target on ArcBest from $133.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. JPMorgan Chase & Co. decreased their price objective on ArcBest from $130.00 to $117.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Stifel Nicolaus lifted their target price on ArcBest from $109.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Finally, Wells Fargo & Company lowered their price target on shares of ArcBest from $105.00 to $96.00 and set an “equal weight” rating on the stock in a research report on Monday. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, ArcBest presently has an average rating of “Hold” and a consensus target price of $118.91.

ArcBest Stock Performance

NASDAQ:ARCB traded down $1.94 on Monday, hitting $93.67. The company’s stock had a trading volume of 156,338 shares, compared to its average volume of 253,844. The company has a current ratio of 1.01, a quick ratio of 1.04 and a debt-to-equity ratio of 0.10. ArcBest has a one year low of $90.25 and a one year high of $153.60. The stock has a fifty day moving average of $101.30 and a two-hundred day moving average of $105.64. The firm has a market capitalization of $2.19 billion, a P/E ratio of 12.82, a price-to-earnings-growth ratio of 1.78 and a beta of 1.51.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings results on Friday, January 31st. The transportation company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.22. ArcBest had a return on equity of 11.79% and a net margin of 4.16%. During the same quarter in the prior year, the business posted $2.47 earnings per share. Research analysts predict that ArcBest will post 7.5 earnings per share for the current year.

Insider Buying and Selling at ArcBest

In related news, Director Craig E. Philip sold 3,900 shares of ArcBest stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $109.91, for a total transaction of $428,649.00. Following the sale, the director now directly owns 23,250 shares of the company’s stock, valued at approximately $2,555,407.50. The trade was a 14.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Michael E. Newcity sold 10,443 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $120.60, for a total transaction of $1,259,425.80. Following the completion of the transaction, the senior vice president now directly owns 5,051 shares of the company’s stock, valued at approximately $609,150.60. The trade was a 67.40 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.18% of the company’s stock.

Hedge Funds Weigh In On ArcBest

Large investors have recently bought and sold shares of the company. Quarry LP grew its stake in shares of ArcBest by 120.7% in the second quarter. Quarry LP now owns 245 shares of the transportation company’s stock worth $26,000 after purchasing an additional 134 shares during the last quarter. Blue Trust Inc. grew its position in shares of ArcBest by 146.3% in the 4th quarter. Blue Trust Inc. now owns 298 shares of the transportation company’s stock valued at $28,000 after buying an additional 177 shares during the last quarter. R Squared Ltd acquired a new stake in shares of ArcBest in the fourth quarter valued at about $40,000. GAMMA Investing LLC raised its position in shares of ArcBest by 63.7% during the third quarter. GAMMA Investing LLC now owns 514 shares of the transportation company’s stock worth $56,000 after acquiring an additional 200 shares during the last quarter. Finally, Quest Partners LLC lifted its stake in shares of ArcBest by 60.6% in the third quarter. Quest Partners LLC now owns 546 shares of the transportation company’s stock worth $59,000 after acquiring an additional 206 shares during the period. 99.27% of the stock is currently owned by institutional investors.

About ArcBest

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.