UBS Group Has Lowered Expectations for ArcBest (NASDAQ:ARCB) Stock Price

ArcBest (NASDAQ:ARCB) had its price objective cut by equities research analysts at UBS Group from $111.00 to $110.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the transportation company’s stock. UBS Group’s target price would indicate a potential upside of 5.67% from the company’s previous close.

A number of other research firms also recently weighed in on ARCB. Stephens restated an “overweight” rating and set a $130.00 price target on shares of ArcBest in a research report on Wednesday, September 4th. Bank of America decreased their price objective on ArcBest from $102.00 to $99.00 and set an “underperform” rating on the stock in a report on Wednesday, September 4th. Morgan Stanley cut their target price on ArcBest from $175.00 to $170.00 and set an “overweight” rating for the company in a research note on Monday. Wells Fargo & Company reduced their price target on shares of ArcBest from $112.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Monday. Finally, The Goldman Sachs Group cut their price objective on shares of ArcBest from $133.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $123.17.

ArcBest Stock Performance

Shares of ARCB opened at $104.10 on Monday. The company has a current ratio of 1.04, a quick ratio of 1.19 and a debt-to-equity ratio of 0.09. The stock has a 50-day moving average price of $104.48 and a 200-day moving average price of $109.45. The company has a market cap of $2.46 billion, a PE ratio of 12.85, a price-to-earnings-growth ratio of 1.31 and a beta of 1.47. ArcBest has a 12-month low of $94.76 and a 12-month high of $153.60.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings results on Friday, November 1st. The transportation company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.20). The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.07 billion. ArcBest had a return on equity of 14.27% and a net margin of 4.54%. ArcBest’s quarterly revenue was down 5.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.31 EPS. As a group, equities analysts forecast that ArcBest will post 6.89 earnings per share for the current fiscal year.

Insider Activity at ArcBest

In other ArcBest news, Director Salvatore A. Abbate acquired 1,000 shares of the company’s stock in a transaction on Monday, August 12th. The stock was acquired at an average price of $103.93 per share, for a total transaction of $103,930.00. Following the acquisition, the director now owns 3,650 shares in the company, valued at $379,344.50. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.18% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Westwood Holdings Group Inc. boosted its stake in shares of ArcBest by 34.7% during the 2nd quarter. Westwood Holdings Group Inc. now owns 583,762 shares of the transportation company’s stock valued at $62,509,000 after purchasing an additional 150,467 shares in the last quarter. Marshall Wace LLP lifted its holdings in ArcBest by 158.7% in the second quarter. Marshall Wace LLP now owns 191,987 shares of the transportation company’s stock worth $20,558,000 after buying an additional 117,774 shares during the period. Emerald Advisers LLC bought a new stake in ArcBest during the 2nd quarter valued at approximately $6,812,000. Mutual of America Capital Management LLC grew its holdings in shares of ArcBest by 1,455.0% during the 2nd quarter. Mutual of America Capital Management LLC now owns 63,399 shares of the transportation company’s stock worth $6,789,000 after acquiring an additional 59,322 shares during the period. Finally, Zimmer Partners LP bought a new position in shares of ArcBest in the 1st quarter worth approximately $7,838,000. 99.27% of the stock is currently 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.