UBS Group Boosts ArcBest (NASDAQ:ARCB) Price Target to $84.00

ArcBest (NASDAQ:ARCB - Get Free Report) had its price target upped by equities research analysts at UBS Group from $64.00 to $84.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the transportation company's stock. UBS Group's price objective suggests a potential upside of 1.78% from the company's previous close.

A number of other brokerages also recently weighed in on ARCB. Jefferies Financial Group reaffirmed a "buy" rating and set a $85.00 price objective (up previously from $75.00) on shares of ArcBest in a research report on Tuesday, June 10th. Bank of America raised shares of ArcBest from an "underperform" rating to a "neutral" rating and raised their price target for the stock from $63.00 to $74.00 in a report on Tuesday, June 10th. Citigroup dropped their target price on ArcBest from $83.00 to $66.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Truist Financial cut their price target on shares of ArcBest from $93.00 to $90.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Finally, Stephens restated an "overweight" rating and set a $116.00 price objective on shares of ArcBest in a research note on Tuesday, March 11th. Eight research 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 has a consensus rating of "Hold" and an average price target of $91.25.

ArcBest Stock Down 0.5%

Shares of ARCB stock traded down $0.43 on Tuesday, hitting $82.54. The stock had a trading volume of 75,089 shares, compared to its average volume of 319,728. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.11. ArcBest has a one year low of $55.19 and a one year high of $129.83. The business has a 50 day moving average price of $68.16 and a 200 day moving average price of $77.02. The company has a market cap of $1.89 billion, a PE ratio of 10.91, a P/E/G ratio of 0.84 and a beta of 1.71.

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 the consensus estimate of $990.03 million. ArcBest had a net margin of 4.37% and a return on equity of 10.05%. The company's revenue for the quarter was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.34 EPS. Research analysts anticipate that ArcBest will post 7 earnings per share for the current fiscal year.

Institutional Trading of ArcBest

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of ArcBest by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 2,771,123 shares of the transportation company's stock valued at $258,601,000 after acquiring an additional 20,665 shares during the period. Alliancebernstein L.P. raised its position in ArcBest by 3.6% in the first quarter. Alliancebernstein L.P. now owns 2,664,431 shares of the transportation company's stock valued at $188,056,000 after purchasing an additional 92,514 shares during the period. Westwood Holdings Group Inc. lifted its stake in ArcBest by 36.7% during the first quarter. Westwood Holdings Group Inc. now owns 869,267 shares of the transportation company's stock worth $61,353,000 after purchasing an additional 233,409 shares in the last quarter. American Century Companies Inc. boosted its position in shares of ArcBest by 11.5% during the first quarter. American Century Companies Inc. now owns 689,895 shares of the transportation company's stock worth $48,693,000 after buying an additional 70,976 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of ArcBest by 2.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 436,921 shares of the transportation company's stock valued at $30,838,000 after buying an additional 10,766 shares in the last quarter. 99.27% of the stock is currently owned by hedge funds and other 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.