ArcBest (NASDAQ:ARCB) PT Lowered to $110.00 at Bank of America

ArcBest (NASDAQ:ARCB) had its price target lowered by Bank of America from $143.00 to $110.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an underperform rating on the transportation company’s stock.

A number of other research firms have also issued reports on ARCB. Morgan Stanley raised their target price on shares of ArcBest from $155.00 to $175.00 and gave the company an overweight rating in a research note on Wednesday, February 7th. Stephens raised their target price on shares of ArcBest from $165.00 to $205.00 and gave the company an overweight rating in a research note on Wednesday, February 7th. The Goldman Sachs Group raised their target price on shares of ArcBest from $133.00 to $149.00 and gave the company a neutral rating in a research note on Thursday, April 11th. Stifel Nicolaus raised their target price on shares of ArcBest from $153.00 to $159.00 and gave the company a buy rating in a research note on Wednesday, February 7th. Finally, UBS Group lowered their target price on shares of ArcBest from $150.00 to $126.00 and set a neutral rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, ArcBest presently has a consensus rating of Moderate Buy and a consensus price target of $143.38.

ArcBest Stock Performance

Shares of ARCB opened at $114.85 on Wednesday. The company’s fifty day moving average is $137.54 and its 200-day moving average is $125.79. ArcBest has a 12 month low of $82.18 and a 12 month high of $153.60. The firm has a market cap of $2.70 billion, a price-to-earnings ratio of 23.11, a price-to-earnings-growth 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.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings results on Tuesday, April 30th. The transportation company reported $1.34 EPS for the quarter, missing the consensus estimate 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 quarter last year, the company earned $1.58 EPS. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. Equities analysts expect that ArcBest will post 9.43 EPS for the current fiscal year.

ArcBest Announces Dividend

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

Insider Transactions at ArcBest

In other news, insider Erin K. Gattis sold 2,000 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 32,247 shares of the company’s stock, valued at approximately $4,565,530.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 made changes to their positions in the business. GSA Capital Partners LLP lifted its holdings in shares of ArcBest by 135.1% during the 1st quarter. GSA Capital Partners LLP now owns 5,130 shares of the transportation company’s stock worth $731,000 after acquiring an additional 2,948 shares during the period. Seelaus Asset Management LLC bought a new position in shares of ArcBest during the 1st quarter worth about $309,000. Capstone Investment Advisors LLC lifted its holdings in shares of ArcBest by 260.3% during the 1st quarter. Capstone Investment Advisors LLC now owns 6,515 shares of the transportation company’s stock worth $928,000 after acquiring an additional 4,707 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of ArcBest by 2.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 25,397 shares of the transportation company’s stock worth $3,619,000 after acquiring an additional 694 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its holdings in ArcBest by 3.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,858 shares of the transportation company’s stock valued at $550,000 after purchasing an additional 131 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.