ArcBest (NASDAQ:ARCB - Get Free Report) had its price target boosted by stock analysts at UBS Group from $64.00 to $84.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the transportation company's stock. UBS Group's target price indicates a potential downside of 0.50% from the stock's current price.
ARCB has been the subject of a number of other research reports. Stifel Nicolaus dropped their price objective on shares of ArcBest from $102.00 to $83.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Truist Financial decreased 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. Jefferies Financial Group reiterated a "buy" rating and set a $85.00 target price (up previously from $75.00) on shares of ArcBest in a report on Tuesday, June 10th. Citigroup decreased their target price on ArcBest from $83.00 to $66.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Finally, The Goldman Sachs Group upgraded ArcBest from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $84.00 to $101.00 in a report on Monday, June 2nd. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, ArcBest presently has an average rating of "Hold" and an average price target of $93.17.
Check Out Our Latest Report on ArcBest
ArcBest Trading Up 1.8%
Shares of NASDAQ ARCB traded up $1.48 on Tuesday, reaching $84.42. 352,953 shares of the company traded hands, compared to its average volume of 320,872. ArcBest has a fifty-two week low of $55.19 and a fifty-two week high of $129.83. The company has a 50 day moving average of $68.65 and a 200 day moving average of $77.06. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $1.93 billion, a PE ratio of 11.17, a P/E/G ratio of 0.89 and a beta of 1.71.
ArcBest (NASDAQ:ARCB - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The transportation company reported $0.51 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). ArcBest had a net margin of 4.37% and a return on equity of 10.05%. The company had revenue of $967.08 million for the quarter, compared to analyst estimates of $990.03 million. During the same period in the prior year, the company earned $1.34 EPS. The company's revenue was down 6.7% compared to the same quarter last year. On average, equities research analysts forecast that ArcBest will post 7 earnings per share for the current fiscal year.
Hedge Funds Weigh In On ArcBest
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Voya Investment Management LLC boosted its holdings in ArcBest by 21.0% in the 1st quarter. Voya Investment Management LLC now owns 14,780 shares of the transportation company's stock worth $1,043,000 after acquiring an additional 2,567 shares during the period. Strs Ohio acquired a new position in shares of ArcBest in the 1st quarter valued at approximately $473,000. Intech Investment Management LLC raised its position in shares of ArcBest by 3.4% in the 1st quarter. Intech Investment Management LLC now owns 20,135 shares of the transportation company's stock valued at $1,421,000 after purchasing an additional 655 shares in the last quarter. Jane Street Group LLC raised its position in shares of ArcBest by 278.2% in the 1st quarter. Jane Street Group LLC now owns 45,591 shares of the transportation company's stock valued at $3,218,000 after purchasing an additional 33,537 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of ArcBest by 215.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 153,138 shares of the transportation company's stock valued at $10,808,000 after purchasing an additional 104,643 shares in the last quarter. Hedge funds and other institutional investors own 99.27% of the company's stock.
About ArcBest
(
Get Free Report)
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.
Read More

Before you consider ArcBest, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and ArcBest wasn't on the list.
While ArcBest currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Discover the top 7 AI stocks to invest in right now. This exclusive report highlights the companies leading the AI revolution and shaping the future of technology in 2025.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.