ArcBest (NASDAQ:ARCB) Price Target Raised to $145.00 at UBS Group

ArcBest (NASDAQ:ARCB) had its target price upped by research analysts at UBS Group from $122.00 to $145.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the transportation company’s stock. UBS Group’s price target would indicate a potential upside of 1.07% from the company’s previous close.

Other analysts also recently issued reports about the stock. The Goldman Sachs Group increased their price objective on shares of ArcBest from $117.00 to $165.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Morgan Stanley upped their price objective on ArcBest from $150.00 to $180.00 and gave the company an “overweight” rating in a research report on Monday. Truist Financial increased their target price on ArcBest from $95.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Weiss Ratings lowered ArcBest from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, May 28th. Finally, JPMorgan Chase & Co. upped their price target on ArcBest from $117.00 to $147.00 and gave the company a “neutral” rating in a report on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $149.83.

ArcBest Price Performance

Shares of NASDAQ ARCB opened at $143.46 on Tuesday. ArcBest has a 1 year low of $59.43 and a 1 year high of $176.69. The stock has a market capitalization of $3.19 billion, a P/E ratio of 59.29, a P/E/G ratio of 0.63 and a beta of 1.57. The company’s 50-day moving average is $137.77 and its 200 day moving average is $110.27. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.93.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings data on Tuesday, April 28th. The transportation company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.05. The business had revenue of $998.79 million for the quarter, compared to analysts’ expectations of $999.07 million. ArcBest had a return on equity of 6.15% and a net margin of 1.38%.The business’s revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.51 EPS. On average, sell-side analysts expect that ArcBest will post 5.87 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC boosted its position in ArcBest by 100.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 87,256 shares of the transportation company’s stock valued at $6,734,000 after purchasing an additional 43,803 shares in the last quarter. Aberdeen Group plc purchased a new position in shares of ArcBest in the 4th quarter worth approximately $7,240,000. WINTON GROUP Ltd purchased a new stake in ArcBest during the third quarter valued at approximately $3,970,000. Unison Advisors LLC acquired a new stake in ArcBest in the fourth quarter valued at approximately $780,000. Finally, Principal Financial Group Inc. grew its holdings in ArcBest by 349.9% in the fourth quarter. Principal Financial Group Inc. now owns 493,780 shares of the transportation company’s stock worth $36,634,000 after purchasing an additional 384,024 shares during the last quarter. 99.27% of the stock is owned by hedge funds and other institutional investors.

About ArcBest

ArcBest Corporation (NASDAQ: ARCB) is a transportation and logistics company that offers comprehensive freight and supply chain solutions across North America. Founded in 1923 as Arkansas Best Freight System, the company has evolved into a diversified service provider with both asset-based and asset-light operations. Its core businesses include less-than-truckload (LTL) shipping through ABF Freight, expedited full-truckload services via Panther Premium Logistics, and a range of logistics and supply chain management services under its ArcBest Integrated Logistics division.

The company’s asset-based operations also encompass FleetNet America, a provider of emergency roadside assistance and maintenance services for heavy-duty vehicles.