ArcBest (NASDAQ:ARCB) PT Raised to $143.00

ArcBest (NASDAQ:ARCB) had its price objective lifted by Bank of America from $141.00 to $143.00 in a research report sent to investors on Monday morning, Benzinga reports. Bank of America currently has an underperform rating on the transportation company’s stock.

Other equities research analysts also recently issued reports about the stock. UBS Group boosted their price target on shares of ArcBest from $119.00 to $150.00 and gave the company a neutral rating in a research note on Friday, February 16th. Deutsche Bank Aktiengesellschaft began coverage on shares of ArcBest in a report on Monday, January 29th. They set a buy rating and a $148.00 price target for the company. JPMorgan Chase & Co. lowered their price target on shares of ArcBest from $168.00 to $164.00 and set an overweight rating for the company in a report on Tuesday, April 9th. Morgan Stanley boosted their price target on shares of ArcBest from $155.00 to $175.00 and gave the stock an overweight rating in a report on Wednesday, February 7th. Finally, The Goldman Sachs Group upped their target price on shares of ArcBest from $133.00 to $149.00 and gave the company a neutral rating in a report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, ArcBest presently has a consensus rating of Moderate Buy and a consensus target price of $151.54.

ArcBest Stock Down 6.2 %

Shares of NASDAQ ARCB opened at $140.00 on Monday. The firm has a market cap of $3.29 billion, a price-to-earnings ratio of 17.70, a price-to-earnings-growth ratio of 0.63 and a beta of 1.49. ArcBest has a 52-week low of $82.18 and a 52-week high of $153.60. The company’s 50-day simple moving average is $140.66 and its 200-day simple moving average is $123.38. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.13.

ArcBest (NASDAQ:ARCB) last issued its earnings results on Tuesday, February 6th. The transportation company reported $2.47 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.25. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.09 billion. ArcBest had a net margin of 4.41% and a return on equity of 15.91%. ArcBest’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.45 earnings per share. Equities analysts predict that ArcBest will post 10.05 EPS for the current fiscal year.

ArcBest Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were issued a dividend of $0.12 per share. The ex-dividend date was Thursday, February 15th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.34%. ArcBest’s dividend payout ratio (DPR) is presently 6.07%.

Insider Activity at ArcBest

In other ArcBest news, insider Erin K. Gattis sold 2,000 shares of the business’s 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 completion of the sale, the insider now directly owns 32,247 shares in the company, valued at $4,565,530.26. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.18% of the stock is owned by insiders.

Institutional Trading of ArcBest

Institutional investors have recently added to or reduced their stakes in the stock. FMR LLC grew its position in ArcBest by 776.2% in the 1st quarter. FMR LLC now owns 358,297 shares of the transportation company’s stock valued at $33,114,000 after buying an additional 317,405 shares in the last quarter. Cooper Creek Partners Management LLC acquired a new position in ArcBest in the third quarter worth approximately $29,108,000. Segall Bryant & Hamill LLC acquired a new position in ArcBest in the second quarter worth approximately $17,232,000. Balyasny Asset Management L.P. acquired a new position in ArcBest during the fourth quarter valued at approximately $20,466,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in ArcBest by 175.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 195,270 shares of the transportation company’s stock valued at $19,849,000 after purchasing an additional 124,354 shares during the last quarter. 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.