ArcBest (NASDAQ:ARCB - Get Free Report) had its price objective dropped by research analysts at Bank of America from $67.00 to $63.00 in a research note issued on Monday,Benzinga reports. The firm currently has an "underperform" rating on the transportation company's stock. Bank of America's price target would suggest a potential downside of 9.99% from the stock's current price.
Several other equities analysts have also commented on the company. Truist Financial lowered their target price on ArcBest from $93.00 to $90.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Citigroup lowered their price objective on ArcBest from $83.00 to $66.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Wells Fargo & Company cut their target price on ArcBest from $80.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 30th. Jefferies Financial Group reduced their price target on shares of ArcBest from $120.00 to $95.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Finally, The Goldman Sachs Group upgraded shares of ArcBest from a "neutral" rating to a "buy" rating and upped their price target for the stock from $84.00 to $101.00 in a research report on Monday, June 2nd. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, ArcBest currently has a consensus rating of "Hold" and a consensus price target of $89.42.
View Our Latest Research Report on ARCB
ArcBest Stock Performance
ARCB stock traded up $0.40 during trading on Monday, hitting $69.99. 245,539 shares of the company's stock traded hands, compared to its average volume of 309,003. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of 9.55, a price-to-earnings-growth ratio of 1.70 and a beta of 1.68. ArcBest has a 52 week low of $55.19 and a 52 week high of $129.83. The stock has a fifty day moving average price of $63.41 and a two-hundred day moving average price of $81.37. The company has a quick ratio of 1.04, a current ratio of 1.01 and a debt-to-equity ratio of 0.10.
ArcBest (NASDAQ:ARCB - Get Free Report) last posted 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 business had revenue of $967.08 million during 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 company's quarterly revenue was down 6.7% on a year-over-year basis. During the same period last year, the firm posted $1.34 earnings per share. As a group, equities analysts anticipate that ArcBest will post 7 EPS for the current fiscal year.
Institutional Trading of ArcBest
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Arizona State Retirement System boosted its holdings in shares of ArcBest by 1.6% in the fourth quarter. Arizona State Retirement System now owns 6,856 shares of the transportation company's stock valued at $640,000 after acquiring an additional 108 shares in the last quarter. Summit Investment Advisors Inc. boosted its stake in ArcBest by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,463 shares of the transportation company's stock valued at $230,000 after purchasing an additional 157 shares in the last quarter. Stephens Inc. AR boosted its stake in ArcBest by 2.1% during the 4th quarter. Stephens Inc. AR now owns 8,128 shares of the transportation company's stock valued at $758,000 after purchasing an additional 170 shares in the last quarter. Blue Trust Inc. increased its position in shares of ArcBest by 146.3% during the 4th 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. Finally, Crossmark Global Holdings Inc. raised its stake in shares of ArcBest by 7.1% in the 1st quarter. Crossmark Global Holdings Inc. now owns 4,303 shares of the transportation company's stock worth $304,000 after buying an additional 285 shares in the last quarter. 99.27% of the stock is currently owned by institutional investors.
About ArcBest
(
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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.
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