Citigroup Cuts ArcBest (NASDAQ:ARCB) Price Target to $83.00

ArcBest (NASDAQ:ARCB) had its price target decreased by analysts at Citigroup from $103.00 to $83.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the transportation company’s stock. Citigroup’s price target would suggest a potential upside of 13.89% from the stock’s current price.

ARCB has been the subject of several other research reports. Wells Fargo & Company reduced their price target on shares of ArcBest from $105.00 to $96.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. Stifel Nicolaus lifted their target price on shares of ArcBest from $109.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Morgan Stanley cut their target price on shares of ArcBest from $160.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. UBS Group cut their target price on shares of ArcBest from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. Finally, Stephens reaffirmed an “overweight” rating and issued a $116.00 target price on shares of ArcBest in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $111.27.

ArcBest Price Performance

Shares of ARCB opened at $72.88 on Tuesday. The company has a market capitalization of $1.69 billion, a P/E ratio of 9.94, a price-to-earnings-growth ratio of 1.70 and a beta of 1.54. The company has a quick ratio of 1.04, a current ratio of 1.01 and a debt-to-equity ratio of 0.10. The firm has a 50 day moving average of $90.82 and a 200 day moving average of $100.46. ArcBest has a twelve month low of $70.96 and a twelve month high of $153.61.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings results 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 net margin of 4.16% and a return on equity of 11.79%. During the same quarter in the prior year, the company earned $2.47 earnings per share. As a group, equities research analysts anticipate that ArcBest will post 7 earnings per share for the current fiscal year.

Institutional Trading of ArcBest

Large investors have recently made changes to their positions in the business. State Street Corp increased its holdings 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 buying an additional 17,542 shares during the last quarter. JPMorgan Chase & Co. grew 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 valued at $24,022,000 after purchasing an additional 43,707 shares during the last quarter. Intech Investment Management LLC grew its holdings in ArcBest by 92.3% during the 3rd quarter. Intech Investment Management LLC now owns 10,753 shares of the transportation company’s stock valued at $1,166,000 after purchasing an additional 5,161 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in ArcBest by 16.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 116,672 shares of the transportation company’s stock valued at $12,653,000 after purchasing an additional 16,103 shares during the last quarter. Finally, Barclays PLC grew its holdings in ArcBest by 342.5% during the 3rd quarter. Barclays PLC now owns 43,134 shares of the transportation company’s stock valued at $4,678,000 after purchasing an additional 33,386 shares during the last quarter. 99.27% of the stock is currently owned by 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.