ArcBest (NASDAQ:ARCB) Given New $145.00 Price Target at JPMorgan Chase & Co.

ArcBest (NASDAQ:ARCB) had its price objective cut by JPMorgan Chase & Co. from $164.00 to $145.00 in a report issued on Wednesday, Benzinga reports. They currently have an overweight rating on the transportation company’s stock.

A number of other equities analysts have also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of ArcBest in a research report on Monday, January 29th. They issued a buy rating and a $148.00 price objective on the stock. StockNews.com upgraded shares of ArcBest from a hold rating to a buy rating in a research report on Friday, January 26th. TD Cowen decreased their price objective on shares of ArcBest from $177.00 to $148.00 and set a buy rating on the stock in a research report on Wednesday. Morgan Stanley boosted their price target on shares of ArcBest from $155.00 to $175.00 and gave the company an overweight rating in a research report on Wednesday, February 7th. Finally, Stephens increased their price target 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. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company’s 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

ArcBest stock opened at $108.36 on Wednesday. The firm has a fifty day simple moving average of $138.58 and a two-hundred day simple moving average of $125.60. ArcBest has a twelve month low of $82.18 and a twelve month high of $153.60. The company has a market capitalization of $2.55 billion, a PE ratio of 13.70, a P/E/G ratio of 0.56 and a beta of 1.49. 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 released its quarterly earnings data on Tuesday, April 30th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.19). ArcBest had a net margin of 4.41% and a return on equity of 15.91%. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the firm posted $1.58 EPS. ArcBest’s revenue was down 6.3% compared to the same quarter last year. Research analysts expect that ArcBest will post 10.05 EPS for the current year.

ArcBest Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend is Thursday, May 9th. ArcBest’s dividend payout ratio is 6.07%.

Insider Buying and Selling at ArcBest

In other ArcBest news, insider Erin K. Gattis sold 2,000 shares of the firm’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 transaction, the insider now owns 32,247 shares of the company’s stock, valued at $4,565,530.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.18% of the company’s stock.

Hedge Funds Weigh In On ArcBest

Institutional investors and hedge funds have recently made changes to their positions in the business. Evergreen Capital Management LLC bought a new position in shares of ArcBest during the third quarter valued at approximately $203,000. Schonfeld Strategic Advisors LLC grew its holdings in shares of ArcBest by 385.8% during the third quarter. Schonfeld Strategic Advisors LLC now owns 26,717 shares of the transportation company’s stock valued at $2,716,000 after buying an additional 21,217 shares during the last quarter. Wakefield Asset Management LLLP purchased a new stake in shares of ArcBest during the fourth quarter valued at approximately $806,000. American Century Companies Inc. grew its holdings in shares of ArcBest by 10.5% during the third quarter. American Century Companies Inc. now owns 378,206 shares of the transportation company’s stock valued at $38,445,000 after buying an additional 35,968 shares during the last quarter. Finally, Public Employees Retirement System of Ohio grew its holdings in shares of ArcBest by 31.3% during the third quarter. Public Employees Retirement System of Ohio now owns 55,199 shares of the transportation company’s stock valued at $5,611,000 after buying an additional 13,165 shares during the last quarter. Institutional investors own 99.27% of the company’s stock.

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.