ArcBest (NASDAQ:ARCB) Stock Price Expected to Rise, Citigroup Analyst Says

ArcBest (NASDAQ:ARCB - Get Free Report) had its price target upped by investment analysts at Citigroup from $67.00 to $89.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a "neutral" rating on the transportation company's stock. Citigroup's target price would indicate a potential upside of 8.23% from the company's current price.

ARCB has been the subject of a number of other reports. TD Cowen reduced their target price on shares of ArcBest from $80.00 to $72.00 and set a "hold" rating for the company in a research report on Wednesday, April 30th. JPMorgan Chase & Co. increased their target price on shares of ArcBest from $75.00 to $89.00 and gave the company a "neutral" rating in a research report on Tuesday. Stephens reissued an "overweight" rating and set a $116.00 target price on shares of ArcBest in a research report on Tuesday, March 11th. UBS Group increased their target price on shares of ArcBest from $64.00 to $84.00 and gave the company a "neutral" rating in a research report on Tuesday. Finally, Jefferies Financial Group reissued a "buy" rating and set a $85.00 target price (up from $75.00) on shares of ArcBest in a research report on Tuesday, June 10th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, ArcBest presently has an average rating of "Hold" and a consensus target price of $93.17.

ArcBest Stock Down 2.6%

ARCB stock traded down $2.19 during trading on Wednesday, reaching $82.23. The stock had a trading volume of 347,815 shares, compared to its average volume of 321,916. ArcBest has a one year low of $55.19 and a one year high of $129.83. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.11. The company's 50 day moving average is $69.59 and its two-hundred day moving average is $76.92. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of 10.88, a P/E/G ratio of 0.90 and a beta of 1.71.

ArcBest (NASDAQ:ARCB - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The transportation company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). ArcBest had a return on equity of 10.05% and a net margin of 4.37%. The firm had revenue of $967.08 million during the quarter, compared to the consensus estimate of $990.03 million. During the same period in the previous year, the company posted $1.34 earnings per share. The company's revenue for the quarter was down 6.7% on a year-over-year basis. Equities research analysts forecast that ArcBest will post 7 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Arizona State Retirement System raised its holdings in ArcBest by 1.6% in the fourth quarter. Arizona State Retirement System now owns 6,856 shares of the transportation company's stock worth $640,000 after buying an additional 108 shares during the last quarter. Summit Investment Advisors Inc. raised its holdings in ArcBest by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,463 shares of the transportation company's stock worth $230,000 after buying an additional 157 shares during the last quarter. Crossmark Global Holdings Inc. raised its holdings in ArcBest by 7.1% in the first quarter. Crossmark Global Holdings Inc. now owns 4,303 shares of the transportation company's stock worth $304,000 after buying an additional 285 shares during the last quarter. Franklin Resources Inc. raised its holdings in ArcBest by 4.3% in the fourth quarter. Franklin Resources Inc. now owns 7,406 shares of the transportation company's stock worth $691,000 after buying an additional 305 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in ArcBest by 433.3% in the second quarter. Farther Finance Advisors LLC now owns 384 shares of the transportation company's stock worth $30,000 after buying an additional 312 shares during the last quarter. 99.27% of the stock is owned by hedge funds and other institutional investors.

ArcBest Company Profile

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.