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

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

ArcBest (NASDAQ:ARCB - Free Report) had its price target reduced by UBS Group from $84.00 to $73.00 in a report published on Thursday morning,Benzinga reports. UBS Group currently has a neutral rating on the transportation company's stock.

ARCB has been the topic of several other research reports. Wall Street Zen raised shares of ArcBest from a "sell" rating to a "hold" rating in a report on Friday, May 9th. TD Cowen lowered their price target on shares of ArcBest from $80.00 to $72.00 and set a "hold" rating on the stock in a report on Wednesday, April 30th. The Goldman Sachs Group upgraded shares of ArcBest from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $84.00 to $101.00 in a research report on Monday, June 2nd. Wells Fargo & Company boosted their price target on ArcBest from $60.00 to $90.00 and gave the stock an "equal weight" rating in a research report on Monday, July 7th. Finally, Bank of America upgraded shares of ArcBest from an "underperform" rating to a "neutral" rating and boosted their target price for the company from $63.00 to $74.00 in a research report on Tuesday, June 10th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $90.00.

ArcBest Stock Up 4.5%

NASDAQ:ARCB traded up $3.19 during trading hours on Thursday, reaching $73.31. 337,064 shares of the stock were exchanged, compared to its average volume of 453,896. The stock has a market cap of $1.68 billion, a PE ratio of 10.91, a PEG ratio of 0.80 and a beta of 1.69. ArcBest has a twelve month low of $55.19 and a twelve month high of $123.25. The firm has a 50 day moving average of $74.39 and a 200 day moving average of $74.80. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.96 and a quick ratio of 1.00.

ArcBest (NASDAQ:ARCB - Get Free Report) last issued its earnings results on Wednesday, July 30th. The transportation company reported $1.36 EPS for the quarter, missing the consensus estimate of $1.48 by ($0.12). The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.03 billion. ArcBest had a net margin of 3.90% and a return on equity of 8.67%. ArcBest's quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.98 earnings per share. On average, equities analysts expect that ArcBest will post 7 earnings per share for the current year.

ArcBest Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, August 8th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, August 8th. This represents a $0.48 dividend on an annualized basis and a yield of 0.7%. ArcBest's dividend payout ratio is 7.14%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Summit Investment Advisors Inc. lifted its stake in ArcBest by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,463 shares of the transportation company's stock worth $230,000 after purchasing an additional 157 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of ArcBest by 11.7% in the 2nd quarter. GAMMA Investing LLC now owns 1,603 shares of the transportation company's stock valued at $123,000 after purchasing an additional 168 shares during the period. SummerHaven Investment Management LLC boosted its holdings in ArcBest by 3.2% in the second quarter. SummerHaven Investment Management LLC now owns 7,590 shares of the transportation company's stock worth $585,000 after acquiring an additional 233 shares in the last quarter. Crossmark Global Holdings Inc. increased its holdings 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 purchasing an additional 285 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in ArcBest by 4.3% in the 4th quarter. Franklin Resources Inc. now owns 7,406 shares of the transportation company's stock worth $691,000 after purchasing an additional 305 shares during the period. 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.