UBS Group Issues Pessimistic Forecast for ArcBest (NASDAQ:ARCB) Stock Price

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

A number of other equities analysts have also recently weighed in on the company. Wells Fargo & Company reduced their price target on ArcBest from $96.00 to $80.00 and set an “equal weight” rating for the company in a report on Thursday, March 27th. Citigroup reduced their target price on ArcBest from $83.00 to $66.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Bank of America dropped their price target on shares of ArcBest from $100.00 to $73.00 and set an “underperform” rating on the stock in a research note on Wednesday, March 12th. 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 research report on Thursday, January 23rd. Finally, Morgan Stanley decreased their price objective on shares of ArcBest from $160.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $88.75.

ArcBest Stock Down 1.2 %

Shares of ARCB stock opened at $57.81 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 1.04 and a debt-to-equity ratio of 0.10. ArcBest has a twelve month low of $55.19 and a twelve month high of $129.83. The stock has a 50 day moving average of $68.52 and a 200 day moving average of $90.28. The stock has a market cap of $1.34 billion, a P/E ratio of 7.89, a P/E/G ratio of 1.70 and a beta of 1.62.

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

Insider Transactions at ArcBest

In related news, CFO John Matthew Beasley purchased 700 shares of ArcBest stock in a transaction dated Thursday, March 13th. The shares were acquired at an average price of $74.89 per share, for a total transaction of $52,423.00. Following the acquisition, the chief financial officer now directly owns 8,142 shares in the company, valued at approximately $609,754.38. The trade was a 9.41 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.28% of the company’s stock.

Institutional Investors Weigh In On ArcBest

Several hedge funds and other institutional investors have recently bought and sold shares of ARCB. MQS Management LLC purchased a new stake in shares of ArcBest in the 1st quarter valued at approximately $220,000. CWM LLC lifted its holdings in ArcBest by 338.8% in the first quarter. CWM LLC now owns 452 shares of the transportation company’s stock valued at $32,000 after acquiring an additional 349 shares during the last quarter. Stephens Inc. AR grew its position in ArcBest by 5.1% in the first quarter. Stephens Inc. AR now owns 8,540 shares of the transportation company’s stock worth $603,000 after acquiring an additional 412 shares during the period. Moloney Securities Asset Management LLC acquired a new stake in ArcBest during the first quarter worth $249,000. Finally, Banque Pictet & Cie SA purchased a new stake in ArcBest in the first quarter valued at $375,000. 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.