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

Key Points

• UBS lowered ArcBest’s price target from $154 to $146 while maintaining a neutral rating; the new target implies 9.29% upside from the prior close.
• Analyst sentiment remains moderately positive overall: ArcBest has a consensus “Moderate Buy” rating and an average price target of $153.54.
• ArcBest beat quarterly estimates, reporting EPS of $2.62 versus $2.50 expected, while revenue rose 15.5% year over year to $1.21 billion.

ArcBest (NASDAQ:ARCB - Get Free Report) had its target price decreased by research analysts at UBS Group from $154.00 to $146.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a "neutral" rating on the transportation company's stock. UBS Group's price target indicates a potential upside of 9.29% from the stock's previous close.

Several other analysts also recently weighed in on ARCB. Weiss Ratings restated a "hold (c-)" rating on shares of ArcBest in a research report on Tuesday, August 25th. Citigroup lifted their target price on ArcBest from $170.00 to $175.00 and gave the company a "buy" rating in a research report on Thursday. TD Cowen decreased their target price on ArcBest from $155.00 to $146.00 and set a "hold" rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. boosted their target price on ArcBest from $158.00 to $164.00 and gave the stock a "neutral" rating in a research note on Thursday. Finally, Zacks Research cut shares of ArcBest from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, ArcBest presently has an average rating of "Moderate Buy" and a consensus price target of $153.54.

ArcBest Stock Performance

Shares of ArcBest stock opened at $133.59 on Thursday. The company has a current ratio of 1.00, a quick ratio of 0.97 and a debt-to-equity ratio of 0.08. The company has a market cap of $2.99 billion, a PE ratio of 24.52, a price-to-earnings-growth ratio of 0.42 and a beta of 1.71. The company has a 50 day moving average of $131.41 and a 200-day moving average of $125.14. ArcBest has a 1-year low of $59.43 and a 1-year high of $176.69.

ArcBest (NASDAQ:ARCB - Get Free Report) last issued its earnings results on Wednesday, November 4th. The transportation company reported $2.62 earnings per share for the quarter, beating analysts' consensus estimates of $2.50 by $0.12. ArcBest had a return on equity of 9.93% and a net margin of 0.66%. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter last year, the business posted $1.46 EPS. The company's revenue was up 15.5% compared to the same quarter last year. As a group, equities research analysts forecast that ArcBest will post 7.12 earnings per share for the current fiscal year.

Insider Buying and Selling at ArcBest

In related news, VP Jason Parks sold 855 shares of the firm's stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $135.09, for a total transaction of $115,501.95. Following the sale, the vice president owned 3,794 shares of the company's stock, valued at $512,531.46. This trade represents a 18.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.98% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ArcBest

Several large investors have recently bought and sold shares of the company. Glenmede Trust Co. NA boosted its holdings in ArcBest by 1.5% in the first quarter. Glenmede Trust Co. NA now owns 6,162 shares of the transportation company's stock valued at $606,000 after acquiring an additional 93 shares during the last quarter. Crossmark Global Holdings Inc. increased its position in ArcBest by 4.0% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 2,869 shares of the transportation company's stock valued at $366,000 after purchasing an additional 110 shares during the period. PNC Financial Services Group Inc. raised its holdings in ArcBest by 8.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,775 shares of the transportation company's stock worth $175,000 after purchasing an additional 134 shares during the last quarter. GAMMA Investing LLC raised its holdings in ArcBest by 6.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,503 shares of the transportation company's stock worth $319,000 after purchasing an additional 149 shares during the last quarter. Finally, Parallel Advisors LLC raised its holdings in ArcBest by 51.3% during the 3rd quarter. Parallel Advisors LLC now owns 466 shares of the transportation company's stock worth $59,000 after purchasing an additional 158 shares during the last quarter. 99.27% of the stock is currently owned by institutional investors.

About ArcBest

ArcBest Corporation NASDAQ: ARCB is a multibillion-dollar logistics company headquartered in Fort Smith, Arkansas. The company provides freight transportation and supply chain solutions through a combination of asset-based and asset-light operations, serving businesses across North America and supporting select international shipping needs.

Its asset-based business is led by ABF Freight, a less-than-truckload carrier that transports palletized and industrial freight. ArcBest also offers expedited transportation, truckload and brokerage services, intermodal transportation, managed transportation, warehouse and distribution support, and supply chain consulting.

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