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

ArcBest (NASDAQ:ARCB) had its target price lowered by Citigroup from $103.00 to $83.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the transportation company’s stock. Citigroup’s target price indicates a potential upside of 12.74% from the stock’s current price.

A number of other analysts have also issued reports on the stock. Morgan Stanley dropped their price objective on shares of ArcBest from $160.00 to $145.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Stifel Nicolaus boosted their price objective on shares of ArcBest from $109.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Stephens restated an “overweight” rating and set a $116.00 target price on shares of ArcBest in a research note on Tuesday. Wells Fargo & Company dropped their target price on ArcBest from $105.00 to $96.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. Finally, UBS Group reduced their price target on ArcBest from $110.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, ArcBest presently has a consensus rating of “Hold” and an average price target of $113.64.

ArcBest Stock Down 0.8 %

Shares of NASDAQ:ARCB traded down $0.57 during midday trading on Tuesday, hitting $73.62. 162,377 shares of the company’s stock traded hands, compared to its average volume of 284,037. The firm’s fifty day moving average price is $91.63 and its two-hundred day moving average price is $100.92. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.04 and a current ratio of 1.01. ArcBest has a twelve month low of $71.57 and a twelve month high of $153.61. The company has a market cap of $1.70 billion, a PE ratio of 10.07, a P/E/G ratio of 1.70 and a beta of 1.54.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings data on Friday, January 31st. The transportation company reported $1.33 EPS for the quarter, topping 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 quarter in the previous year, the firm earned $2.47 EPS. On average, equities research analysts anticipate that ArcBest will post 7 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. OneDigital Investment Advisors LLC grew its position in shares of ArcBest by 3.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,509 shares of the transportation company’s stock valued at $272,000 after buying an additional 86 shares during the last quarter. Avior Wealth Management LLC grew its holdings in shares of 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 purchasing an additional 95 shares during the last quarter. Arizona State Retirement System raised its position in shares of ArcBest by 1.6% during the 4th quarter. Arizona State Retirement System now owns 6,856 shares of the transportation company’s stock worth $640,000 after purchasing an additional 108 shares during the period. Summit Investment Advisors Inc. lifted its holdings in shares of ArcBest by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,463 shares of the transportation company’s stock worth $230,000 after purchasing an additional 157 shares during the last quarter. Finally, Stephens Inc. AR lifted its holdings in shares of ArcBest by 2.1% in the 4th quarter. Stephens Inc. AR now owns 8,128 shares of the transportation company’s stock worth $758,000 after purchasing an additional 170 shares during the last quarter. 99.27% of the stock is currently owned by institutional investors.

About ArcBest

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.