UBS Group Has Lowered Expectations for ArcBest (NASDAQ:ARCB) Stock Price

ArcBest (NASDAQ:ARCB) had its target price reduced by analysts at UBS Group from $110.00 to $100.00 in a report released on Monday,Benzinga reports. The firm currently has a “neutral” rating on the transportation company’s stock. UBS Group’s price target suggests a potential upside of 4.82% from the company’s current price.

Other equities research analysts have also issued reports about the stock. Morgan Stanley decreased their price objective on shares of ArcBest from $160.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday. Wells Fargo & Company cut their price objective on ArcBest from $105.00 to $96.00 and set an “equal weight” rating for the company in a research report on Monday. JPMorgan Chase & Co. cut their target price on shares of ArcBest from $130.00 to $117.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Wolfe Research lowered shares of ArcBest from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. Finally, TD Cowen downgraded shares of ArcBest from a “buy” rating to a “hold” rating and lowered their price target for the stock from $131.00 to $114.00 in a report on Monday, October 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, ArcBest currently has an average rating of “Hold” and a consensus price target of $118.91.

ArcBest Trading Up 4.4 %

Shares of ArcBest stock opened at $95.40 on Monday. The company has a 50-day moving average of $100.53 and a two-hundred day moving average of $105.28. ArcBest has a 12-month low of $90.25 and a 12-month high of $153.60. The company has a current ratio of 1.01, a quick ratio of 1.04 and a debt-to-equity ratio of 0.10. The stock has a market cap of $2.23 billion, a PE ratio of 13.02, a price-to-earnings-growth ratio of 1.78 and a beta of 1.51.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings data on Friday, January 31st. The transportation company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.22. ArcBest had a return on equity of 11.79% and a net margin of 4.16%. During the same period in the prior year, the company posted $2.47 earnings per share. On average, research analysts anticipate that ArcBest will post 7.5 EPS for the current fiscal year.

Insider Activity at ArcBest

In other news, Director Craig E. Philip sold 3,900 shares of ArcBest stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $109.91, for a total transaction of $428,649.00. Following the sale, the director now owns 23,250 shares in the company, valued at $2,555,407.50. This trade represents a 14.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.18% of the company’s stock.

Hedge Funds Weigh In On ArcBest

A number of institutional investors have recently made changes to their positions in the business. State Street Corp increased its position in shares of ArcBest by 1.9% in the 3rd quarter. State Street Corp now owns 957,410 shares of the transportation company’s stock worth $103,831,000 after purchasing an additional 17,542 shares during the last quarter. Geode Capital Management LLC increased its holdings in ArcBest by 0.6% in the third quarter. Geode Capital Management LLC now owns 551,821 shares of the transportation company’s stock valued at $59,856,000 after buying an additional 3,475 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in ArcBest by 5.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 414,261 shares of the transportation company’s stock valued at $44,927,000 after buying an additional 21,905 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in ArcBest by 24.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 221,507 shares of the transportation company’s stock worth $24,022,000 after buying an additional 43,707 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in ArcBest by 16.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 116,672 shares of the transportation company’s stock worth $12,653,000 after purchasing an additional 16,103 shares during the period. 99.27% of the stock is owned by institutional investors and hedge funds.

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.