ArcBest (NASDAQ:ARCB) PT Lowered to $145.00

ArcBest (NASDAQ:ARCB) had its price target reduced by JPMorgan Chase & Co. from $164.00 to $145.00 in a report published on Wednesday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the transportation company’s stock.

Several other equities research analysts also recently issued reports on ARCB. Morgan Stanley increased their price objective on shares of ArcBest from $155.00 to $175.00 and gave the stock an overweight rating in a research report on Wednesday, February 7th. TD Cowen cut their price target on ArcBest from $177.00 to $148.00 and set a buy rating on the stock in a report on Wednesday. Stifel Nicolaus increased their price objective on ArcBest from $153.00 to $159.00 and gave the stock a buy rating in a report on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft assumed coverage on ArcBest in a research note on Monday, January 29th. They issued a buy rating and a $148.00 target price on the stock. Finally, StockNews.com raised shares of ArcBest from a hold rating to a buy rating in a research note on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $143.38.

ArcBest Stock Performance

Shares of ArcBest stock opened at $114.85 on Wednesday. The stock’s fifty day simple moving average is $137.54 and its 200 day simple moving average is $125.79. The company has a current ratio of 1.23, a quick ratio of 1.26 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $2.70 billion, a PE ratio of 23.11, a PEG ratio of 0.52 and a beta of 1.56. ArcBest has a 12 month low of $82.18 and a 12 month high of $153.60.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings results on Tuesday, April 30th. The transportation company reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.19). ArcBest had a return on equity of 15.27% and a net margin of 2.80%. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the business earned $1.58 EPS. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, research analysts predict that ArcBest will post 9.43 EPS for the current year.

ArcBest Announces Dividend

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

Insider Activity

In related news, insider Erin K. Gattis sold 2,000 shares of ArcBest stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $141.58, for a total transaction of $283,160.00. Following the completion of the transaction, the insider now owns 32,247 shares in the company, valued at $4,565,530.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.65% of the stock is owned by insiders.

Hedge Funds Weigh In On ArcBest

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARCB. EverSource Wealth Advisors LLC lifted its stake in shares of ArcBest by 49.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 227 shares of the transportation company’s stock worth $27,000 after buying an additional 75 shares during the last quarter. Contravisory Investment Management Inc. lifted its position in ArcBest by 70.9% during the first quarter. Contravisory Investment Management Inc. now owns 188 shares of the transportation company’s stock worth $27,000 after acquiring an additional 78 shares during the last quarter. Allworth Financial LP lifted its position in ArcBest by 15,450.0% during the third quarter. Allworth Financial LP now owns 311 shares of the transportation company’s stock worth $32,000 after acquiring an additional 309 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of ArcBest during the fourth quarter worth approximately $39,000. Finally, Parallel Advisors LLC grew its position in shares of ArcBest by 45.8% in the fourth quarter. Parallel Advisors LLC now owns 363 shares of the transportation company’s stock valued at $44,000 after purchasing an additional 114 shares during the last quarter. 99.27% of the stock is 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.