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

ArcBest (NASDAQ:ARCB) had its price objective lowered by stock analysts at UBS Group from $111.00 to $110.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the transportation company’s stock. UBS Group’s price objective indicates a potential upside of 7.46% from the company’s current price.

Several other equities analysts have also issued reports on the company. The Goldman Sachs Group dropped their price objective on ArcBest from $133.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Jefferies Financial Group dropped their price objective on ArcBest from $140.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, October 10th. Citigroup started coverage on shares of ArcBest in a research note on Wednesday, October 9th. They set a “neutral” rating and a $111.00 target price for the company. Wolfe Research downgraded shares of ArcBest from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th. Finally, Morgan Stanley decreased their target price on shares of ArcBest from $175.00 to $170.00 and set an “overweight” rating for the company in a research note on Monday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $123.17.

ArcBest Stock Up 2.3 %

Shares of NASDAQ ARCB traded up $2.34 during mid-day trading on Monday, hitting $102.36. The company had a trading volume of 68,176 shares, compared to its average volume of 284,240. The company has a market capitalization of $2.42 billion, a PE ratio of 19.35, a price-to-earnings-growth ratio of 1.36 and a beta of 1.47. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.19 and a quick ratio of 1.19. ArcBest has a 1-year low of $94.76 and a 1-year high of $153.60. The business’s 50-day simple moving average is $104.68 and its 200 day simple moving average is $109.94.

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

Insiders Place Their Bets

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

Institutional Trading of ArcBest

A number of institutional investors and hedge funds have recently made changes to their positions in ARCB. UniSuper Management Pty Ltd purchased a new stake in ArcBest during the 1st quarter worth $666,000. Inspire Investing LLC boosted its holdings in ArcBest by 39.6% during the first quarter. Inspire Investing LLC now owns 15,002 shares of the transportation company’s stock worth $2,138,000 after buying an additional 4,258 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in ArcBest by 54.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,660 shares of the transportation company’s stock worth $2,945,000 after buying an additional 7,291 shares in the last quarter. Kennedy Capital Management LLC boosted its holdings in ArcBest by 235.3% during the first quarter. Kennedy Capital Management LLC now owns 33,482 shares of the transportation company’s stock worth $4,771,000 after buying an additional 23,497 shares in the last quarter. Finally, Impala Asset Management LLC bought a new stake in ArcBest during the second quarter worth approximately $2,409,000. 99.27% of the stock is currently owned by institutional investors and hedge funds.

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.