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

ArcBest logo with Transportation background

ArcBest (NASDAQ:ARCB - Get Free Report) had its price objective boosted by Citigroup from $67.00 to $89.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the transportation company's stock. Citigroup's price objective would indicate a potential upside of 7.31% from the company's current price.

ARCB has been the subject of several other research reports. Jefferies Financial Group reiterated 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. TD Cowen lowered their price objective 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. Wall Street Zen raised shares of ArcBest from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. Stephens restated an "overweight" rating and issued a $116.00 target price on shares of ArcBest in a report on Tuesday, March 11th. Finally, Stifel Nicolaus lowered their target price on shares of ArcBest from $102.00 to $83.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $93.17.

Get Our Latest Stock Report on ArcBest

ArcBest Price Performance

Shares of NASDAQ:ARCB traded down $0.02 during mid-day trading on Wednesday, reaching $82.94. The stock had a trading volume of 354,057 shares, compared to its average volume of 320,743. 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 company has a market cap of $1.90 billion, a P/E ratio of 10.97, a price-to-earnings-growth ratio of 0.89 and a beta of 1.71. ArcBest has a 1 year low of $55.19 and a 1 year high of $129.83. The business's 50 day moving average price is $68.65 and its 200 day moving average price is $77.06.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC purchased a new position in ArcBest in the 1st quarter worth about $381,000. Elevation Point Wealth Partners LLC increased its position in ArcBest by 33.3% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 3,053 shares of the transportation company's stock valued at $215,000 after purchasing an additional 762 shares during the period. GAMMA Investing LLC increased its position in ArcBest by 185.3% during the 1st quarter. GAMMA Investing LLC now owns 1,435 shares of the transportation company's stock valued at $101,000 after purchasing an additional 932 shares during the period. Victory Capital Management Inc. increased its position in ArcBest by 6.0% during the 4th quarter. Victory Capital Management Inc. now owns 232,627 shares of the transportation company's stock valued at $21,709,000 after purchasing an additional 13,152 shares during the period. Finally, Teacher Retirement System of Texas increased its position in ArcBest by 41.5% during the 4th quarter. Teacher Retirement System of Texas now owns 3,190 shares of the transportation company's stock valued at $298,000 after purchasing an additional 935 shares during the period. Hedge funds and other institutional investors own 99.27% of the company's stock.

ArcBest Company Profile

(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.

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