ArcBest (NASDAQ:ARCB) Price Target Cut to $100.00 by Analysts at UBS Group

ArcBest (NASDAQ:ARCB) had its price target dropped by equities research analysts at UBS Group from $110.00 to $100.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the transportation company’s stock. UBS Group’s target price suggests a potential upside of 6.76% from the company’s current price.

Several other analysts also recently commented on the company. Wells Fargo & Company reduced their target price on ArcBest from $105.00 to $96.00 and set an “equal weight” rating for the company in a research note on Monday. The Goldman Sachs Group decreased their price objective on ArcBest from $133.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Morgan Stanley reduced their price target on shares of ArcBest from $160.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday. Stifel Nicolaus upped their price objective on shares of ArcBest from $109.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of ArcBest from $130.00 to $117.00 and set a “neutral” rating for the company in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $118.91.

ArcBest Trading Down 2.0 %

NASDAQ ARCB traded down $1.94 during trading hours on Monday, hitting $93.67. 156,338 shares of the company’s stock were exchanged, compared to its average volume of 253,844. ArcBest has a 1-year low of $90.25 and a 1-year high of $153.60. The company has a current ratio of 1.01, a quick ratio of 1.04 and a debt-to-equity ratio of 0.10. The stock has a 50-day simple moving average of $101.30 and a 200 day simple moving average of $105.64. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 1.78 and a beta of 1.51.

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

Insider Activity at ArcBest

In other ArcBest news, Director Craig E. Philip sold 3,900 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $109.91, for a total value of $428,649.00. Following the transaction, the director now directly owns 23,250 shares in the company, valued at $2,555,407.50. The trade was a 14.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael E. Newcity sold 10,443 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $120.60, for a total transaction of $1,259,425.80. Following the sale, the senior vice president now 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. 1.18% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Quarry LP lifted its holdings in ArcBest by 120.7% during the second quarter. Quarry LP now owns 245 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 134 shares during the last quarter. Blue Trust Inc. raised its position in shares of ArcBest by 146.3% in the fourth quarter. Blue Trust Inc. now owns 298 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 177 shares during the period. R Squared Ltd purchased a new stake in shares of ArcBest during the 4th quarter valued at approximately $40,000. GAMMA Investing LLC boosted its holdings in ArcBest by 63.7% in the 3rd quarter. GAMMA Investing LLC now owns 514 shares of the transportation company’s stock worth $56,000 after buying an additional 200 shares during the period. Finally, Quest Partners LLC grew its stake in ArcBest by 60.6% in the 3rd quarter. Quest Partners LLC now owns 546 shares of the transportation company’s stock valued at $59,000 after buying an additional 206 shares in the last quarter. Hedge funds and other institutional investors own 99.27% of the company’s stock.

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.