ArcBest (NASDAQ:ARCB) Price Target Cut to $148.00

ArcBest (NASDAQ:ARCB) had its price objective decreased by TD Cowen from $177.00 to $148.00 in a research report released on Wednesday, Marketbeat Ratings reports. TD Cowen currently has a buy rating on the transportation company’s stock.

Several other equities analysts also recently weighed in on ARCB. JPMorgan Chase & Co. reduced their target price on shares of ArcBest from $168.00 to $164.00 and set an overweight rating for the company in a research note on Tuesday, April 9th. Stephens lifted their target price on shares of ArcBest from $165.00 to $205.00 and gave the stock an overweight rating in a research note on Wednesday, February 7th. The Goldman Sachs Group raised their price objective on shares of ArcBest from $133.00 to $149.00 and gave the company a neutral rating in a research report on Thursday, April 11th. UBS Group raised their price objective on shares of ArcBest from $119.00 to $150.00 and gave the company a neutral rating in a research report on Friday, February 16th. Finally, Stifel Nicolaus raised their price objective on shares of ArcBest from $153.00 to $159.00 and gave the company a buy rating in a research report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, ArcBest presently has a consensus rating of Moderate Buy and a consensus price target of $143.38.

ArcBest Price Performance

ARCB opened at $114.85 on Wednesday. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of 23.11, a PEG ratio of 0.52 and a beta of 1.56. The company has a quick ratio of 1.26, a current ratio of 1.23 and a debt-to-equity ratio of 0.12. The firm has a 50-day moving average price of $137.54 and a 200-day moving average price of $125.79. ArcBest has a twelve month low of $82.18 and a twelve month high of $153.60.

ArcBest (NASDAQ:ARCB) last posted its earnings results on Tuesday, April 30th. The transportation company reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.19). The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. ArcBest had a return on equity of 15.27% and a net margin of 2.80%. ArcBest’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.58 EPS. Equities analysts expect that ArcBest will post 9.43 EPS for the current year.

ArcBest Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be given a dividend of $0.12 per share. The ex-dividend date is Thursday, May 9th. This represents a $0.48 annualized dividend and a yield of 0.42%. ArcBest’s payout ratio is presently 9.66%.

Insider Buying and Selling at ArcBest

In other ArcBest news, insider Erin K. Gattis sold 2,000 shares of ArcBest stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $141.58, for a total transaction of $283,160.00. Following the transaction, the insider now directly owns 32,247 shares of the company’s stock, valued at $4,565,530.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.65% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ARCB. Cooper Creek Partners Management LLC purchased a new position in shares of ArcBest during the third quarter worth approximately $29,108,000. Allspring Global Investments Holdings LLC raised its stake in shares of ArcBest by 175.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 195,270 shares of the transportation company’s stock worth $19,849,000 after acquiring an additional 124,354 shares in the last quarter. Wellington Management Group LLP purchased a new position in shares of ArcBest during the third quarter worth approximately $10,561,000. Norges Bank purchased a new position in shares of ArcBest during the fourth quarter worth approximately $9,298,000. Finally, Moody Aldrich Partners LLC purchased a new position in shares of ArcBest during the third quarter worth approximately $5,835,000. 99.27% of the stock is owned by hedge funds and other 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.