ArcBest (NASDAQ:ARCB) Price Target Lowered to $73.00 at UBS Group

Key Points

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ArcBest (NASDAQ:ARCB - Get Free Report) had its price objective dropped by equities researchers at UBS Group from $84.00 to $73.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the transportation company's stock. UBS Group's target price would suggest a potential upside of 0.79% from the stock's current price.

A number of other research firms also recently commented on ARCB. Stifel Nicolaus boosted their price target on ArcBest from $83.00 to $93.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Citigroup upped their price target on shares of ArcBest from $67.00 to $89.00 and gave the stock a "neutral" rating in a report on Wednesday, July 9th. Wells Fargo & Company boosted their price objective on shares of ArcBest from $60.00 to $90.00 and gave the company an "equal weight" rating in a research report on Monday, July 7th. TD Cowen lowered their price target on ArcBest from $80.00 to $72.00 and set a "hold" rating for the company in a report on Wednesday, April 30th. Finally, The Goldman Sachs Group upgraded ArcBest from a "neutral" rating to a "buy" rating and increased their price target for the company from $84.00 to $101.00 in a research note on Monday, June 2nd. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $93.08.

ArcBest Stock Up 1.1%

Shares of ARCB traded up $0.76 during midday trading on Thursday, hitting $72.43. The stock had a trading volume of 99,437 shares, compared to its average volume of 378,370. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of 9.52, a price-to-earnings-growth ratio of 0.87 and a beta of 1.71. The company has a 50 day simple moving average of $73.73 and a two-hundred day simple moving average of $75.73. ArcBest has a twelve month low of $55.19 and a twelve month high of $129.83. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.00 and a quick ratio of 1.00.

ArcBest (NASDAQ:ARCB - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.36 EPS for the quarter, missing analysts' consensus estimates of $1.48 by ($0.12). ArcBest had a return on equity of 10.05% and a net margin of 4.37%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the firm earned $1.98 earnings per share. The company's revenue for the quarter was down 5.1% compared to the same quarter last year. On average, analysts anticipate that ArcBest will post 7 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ARCB. First Citizens Bank & Trust Co. bought a new position in ArcBest in the second quarter worth approximately $353,000. FNY Investment Advisers LLC bought a new stake in shares of ArcBest during the second quarter worth about $51,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of ArcBest in the 2nd quarter worth about $270,000. Allianz Asset Management GmbH bought a new position in ArcBest in the 2nd quarter valued at about $2,476,000. Finally, Mutual Advisors LLC acquired a new position in ArcBest during the 2nd quarter valued at about $954,000. 99.27% of the stock is owned by institutional investors.

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.

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