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

ArcBest (NASDAQ:ARCB) had its target price lowered by stock analysts at UBS Group from $100.00 to $64.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the transportation company’s stock. UBS Group’s target price would indicate a potential upside of 10.71% from the company’s current price.

ARCB has been the topic of several other research reports. The Goldman Sachs Group cut their price target on ArcBest from $108.00 to $97.00 and set a “neutral” rating on the stock in a research note on Thursday, April 10th. Bank of America reduced their price target on shares of ArcBest from $100.00 to $73.00 and set an “underperform” rating for the company in a report on Wednesday, March 12th. Truist Financial dropped their price objective on shares of ArcBest from $93.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Wells Fargo & Company lowered their target price on ArcBest from $96.00 to $80.00 and set an “equal weight” rating for the company in a report on Thursday, March 27th. Finally, TD Cowen dropped their target price on ArcBest from $80.00 to $72.00 and set a “hold” rating on the stock in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, ArcBest currently has a consensus rating of “Hold” and a consensus price target of $88.75.

ArcBest Trading Down 1.2 %

Shares of ARCB opened at $57.81 on Wednesday. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of 7.89, a PEG ratio of 1.70 and a beta of 1.62. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.04. ArcBest has a 1-year low of $55.19 and a 1-year high of $129.83. The company has a 50-day moving average of $68.52 and a 200 day moving average of $90.28.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings results on Tuesday, April 29th. The transportation company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). ArcBest had a net margin of 4.16% and a return on equity of 11.79%. The company had revenue of $967.08 million for the quarter, compared to the consensus estimate of $990.03 million. During the same period in the prior year, the firm posted $1.34 EPS. The business’s revenue was down 6.7% on a year-over-year basis. On average, research analysts expect that ArcBest will post 7 EPS for the current year.

Insider Buying and Selling

In related news, CFO John Matthew Beasley purchased 700 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was acquired at an average price of $74.89 per share, with a total value of $52,423.00. Following the completion of the acquisition, the chief financial officer now owns 8,142 shares in the company, valued at approximately $609,754.38. This represents a 9.41 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.28% of the stock is owned by company insiders.

Institutional Investors Weigh In On ArcBest

A number of large investors have recently made changes to their positions in ARCB. Arizona State Retirement System grew its stake in ArcBest by 1.6% during the 4th quarter. Arizona State Retirement System now owns 6,856 shares of the transportation company’s stock valued at $640,000 after purchasing an additional 108 shares during the last quarter. Summit Investment Advisors Inc. lifted its holdings in shares of ArcBest by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,463 shares of the transportation company’s stock worth $230,000 after purchasing an additional 157 shares during the period. Stephens Inc. AR boosted its position in ArcBest by 2.1% in the fourth quarter. Stephens Inc. AR now owns 8,128 shares of the transportation company’s stock valued at $758,000 after buying an additional 170 shares during the last quarter. Blue Trust Inc. increased its holdings in ArcBest by 146.3% in the 4th quarter. Blue Trust Inc. now owns 298 shares of the transportation company’s stock worth $28,000 after buying an additional 177 shares during the period. Finally, Crossmark Global Holdings Inc. raised its position in ArcBest by 7.1% during the 1st quarter. Crossmark Global Holdings Inc. now owns 4,303 shares of the transportation company’s stock worth $304,000 after buying an additional 285 shares during the last quarter. 99.27% of the stock is owned by hedge funds and other 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.