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

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.

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

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.