UBS Group Lowers ArcBest (NASDAQ:ARCB) Price Target to $110.00

ArcBest (NASDAQ:ARCB) had its target price lowered by research analysts at UBS Group from $111.00 to $110.00 in a report issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the transportation company’s stock. UBS Group’s target price points to a potential upside of 7.46% from the stock’s current price.

Several other analysts have also commented on ARCB. Jefferies Financial Group lowered their price objective on shares of ArcBest from $140.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, October 10th. Citigroup began coverage on shares of ArcBest in a report on Wednesday, October 9th. They set a “neutral” rating and a $111.00 target price for the company. TD Cowen lowered shares of ArcBest from a “buy” rating to a “hold” rating and lowered their target price for the company from $131.00 to $114.00 in a report on Monday, October 14th. Wolfe Research lowered shares of ArcBest from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. Finally, Morgan Stanley lowered their target price on shares of ArcBest from $175.00 to $170.00 and set an “overweight” rating for the company in a report on Monday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $123.17.

ArcBest Trading Up 2.3 %

Shares of NASDAQ ARCB traded up $2.34 during trading hours on Monday, hitting $102.36. The company’s stock had a trading volume of 68,176 shares, compared to its average volume of 284,240. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.19 and a current ratio of 1.19. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of 19.35, a P/E/G ratio of 1.36 and a beta of 1.47. ArcBest has a 12 month low of $94.76 and a 12 month high of $153.60. The business has a 50-day simple moving average of $104.68 and a 200-day simple moving average of $109.94.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings data on Friday, November 1st. The transportation company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.84 by ($0.20). ArcBest had a return on equity of 15.98% and a net margin of 2.96%. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter last year, the business earned $2.31 earnings per share. The business’s quarterly revenue was down 5.8% on a year-over-year basis. On average, analysts anticipate that ArcBest will post 6.89 earnings per share for the current fiscal year.

Insider Activity at ArcBest

In other news, Director Salvatore A. Abbate purchased 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average cost of $103.93 per share, with a total value of $103,930.00. Following the completion of the purchase, the director now owns 3,650 shares in the company, valued at approximately $379,344.50. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.65% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ArcBest

Institutional investors have recently modified their holdings of the stock. Quarry LP increased its holdings in shares of ArcBest by 120.7% in the 2nd quarter. Quarry LP now owns 245 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 134 shares during the period. Innealta Capital LLC acquired a new stake in ArcBest during the 2nd quarter worth about $33,000. Quest Partners LLC acquired a new position in shares of ArcBest in the 2nd quarter valued at about $36,000. Cultivar Capital Inc. acquired a new position in shares of ArcBest in the 2nd quarter valued at about $43,000. Finally, Mather Group LLC. purchased a new position in shares of ArcBest in the 2nd quarter valued at about $46,000. 99.27% of the stock is 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.