ArcBest (NASDAQ:ARCB) Price Target Lowered to $148.00 at TD Cowen

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

A number of other equities analysts have also recently issued reports on ARCB. Bank of America boosted their price objective on shares of ArcBest from $141.00 to $143.00 and gave the company an underperform rating in a research report on Monday, April 15th. Stephens boosted their price objective on shares of ArcBest from $165.00 to $205.00 and gave the company an overweight rating in a research report on Wednesday, February 7th. UBS Group boosted 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. The Goldman Sachs Group boosted 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. Finally, Morgan Stanley boosted their price objective 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. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $143.38.

ArcBest Price Performance

Shares of NASDAQ:ARCB opened at $108.36 on Wednesday. The stock has a market cap of $2.55 billion, a PE ratio of 13.70, a PEG ratio of 0.56 and a beta of 1.49. The company’s fifty day moving average is $138.58 and its 200 day moving average is $125.60. ArcBest has a 52 week low of $82.18 and a 52 week high of $153.60. 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, April 30th. The transportation company reported $1.34 EPS for the quarter, missing analysts’ consensus estimates 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 15.91% and a net margin of 4.41%. ArcBest’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.58 EPS. Research analysts anticipate that ArcBest will post 10.05 earnings per share for the current year.

ArcBest Announces Dividend

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

Insider Buying and Selling

In related news, insider Erin K. Gattis sold 2,000 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $141.58, for a total value 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 $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.

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 increased its stake 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 purchasing an additional 21,217 shares in the last quarter. Wakefield Asset Management LLLP bought a new position in shares of ArcBest during the fourth quarter valued at approximately $806,000. American Century Companies Inc. increased its stake 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 purchasing an additional 35,968 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its stake 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 purchasing an additional 13,165 shares in the last quarter. Institutional investors own 99.27% of the company’s stock.

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.