ArcBest (NASDAQ:ARCB) Price Target Cut to $83.00 by Analysts at Citigroup

ArcBest (NASDAQ:ARCB - Get Free Report) had its price objective cut by analysts at Citigroup from $103.00 to $83.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the transportation company's stock. Citigroup's price target would indicate a potential upside of 12.74% from the stock's previous close.

A number of other brokerages have also recently weighed in on ARCB. UBS Group reduced their price target 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. Stephens restated an "overweight" rating and set a $116.00 price target on shares of ArcBest in a research note on Tuesday. Morgan Stanley reduced their price objective on ArcBest from $160.00 to $145.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. Stifel Nicolaus raised 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. Finally, Wells Fargo & Company decreased 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 note on Monday, February 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $113.64.

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ArcBest Stock Down 0.8 %

Shares of NASDAQ:ARCB traded down $0.57 on Tuesday, hitting $73.62. 162,377 shares of the company's stock were exchanged, compared to its average volume of 284,037. ArcBest has a 1-year low of $71.57 and a 1-year high of $153.61. The company has a market capitalization of $1.70 billion, a PE ratio of 10.07, a P/E/G ratio of 1.70 and a beta of 1.54. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.04 and a current ratio of 1.01. The firm's 50-day moving average is $91.63 and its 200 day moving average is $100.92.

ArcBest (NASDAQ:ARCB - Get Free Report) last announced its quarterly earnings results on Friday, January 31st. The transportation company reported $1.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business earned $2.47 earnings per share. Sell-side analysts predict that ArcBest will post 7 EPS for the current year.

Institutional Investors Weigh In On ArcBest

Hedge funds have recently modified their holdings of the stock. Blue Trust Inc. raised its stake in ArcBest by 146.3% during the fourth quarter. Blue Trust Inc. now owns 298 shares of the transportation company's stock worth $28,000 after purchasing an additional 177 shares during the period. R Squared Ltd purchased a new position in shares of ArcBest in the 4th quarter worth $40,000. Smartleaf Asset Management LLC boosted its holdings in ArcBest by 471.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 549 shares of the transportation company's stock valued at $51,000 after acquiring an additional 453 shares during the last quarter. Quest Partners LLC boosted its holdings in ArcBest by 60.6% in the third quarter. Quest Partners LLC now owns 546 shares of the transportation company's stock valued at $59,000 after acquiring an additional 206 shares during the last quarter. Finally, Avior Wealth Management LLC grew its position in ArcBest by 17.9% during the third quarter. Avior Wealth Management LLC now owns 625 shares of the transportation company's stock valued at $68,000 after acquiring an additional 95 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.

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