ArcBest (NASDAQ:ARCB) PT Lowered to $126.00 at UBS Group

ArcBest (NASDAQ:ARCB) had its price target cut by UBS Group from $150.00 to $126.00 in a research report released on Wednesday morning, Benzinga reports. They currently have a neutral rating on the transportation company’s stock.

Several other equities research analysts also recently issued reports on ARCB. Morgan Stanley boosted their price objective on shares of ArcBest from $155.00 to $175.00 and gave the stock an overweight rating in a research note on Wednesday, February 7th. JPMorgan Chase & Co. reduced their price objective on ArcBest from $164.00 to $145.00 and set an overweight rating on the stock in a research note on Wednesday. Stephens increased their target price on ArcBest from $165.00 to $205.00 and gave the company an overweight rating in a research note on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft initiated coverage on ArcBest in a research report on Monday, January 29th. They set a buy rating and a $148.00 price target on the stock. Finally, StockNews.com upgraded ArcBest from a hold rating to a buy rating in a report on Friday, January 26th. One 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 company currently has an average rating of Moderate Buy and an average price target of $143.38.

ArcBest Price Performance

Shares of ArcBest stock opened at $114.85 on Wednesday. The business’s fifty day moving average price is $137.54 and its 200 day moving average price is $125.62. ArcBest has a twelve month low of $82.18 and a twelve month high of $153.60. 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 stock has a market capitalization of $2.70 billion, a P/E ratio of 23.11, a PEG ratio of 0.47 and a beta of 1.56.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings data 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 firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the business earned $1.58 earnings per share. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, 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 issued a $0.12 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.48 annualized dividend and a yield of 0.42%. ArcBest’s dividend payout ratio is presently 9.66%.

Insider Buying and Selling at ArcBest

In other news, insider Erin K. Gattis sold 2,000 shares of the company’s 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 sale, the insider now owns 32,247 shares in the company, valued at approximately $4,565,530.26. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.65% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ArcBest

Several large investors have recently added to or reduced their stakes in ARCB. Evergreen Capital Management LLC acquired a new stake in shares of ArcBest during the third quarter worth $203,000. Schonfeld Strategic Advisors LLC raised its stake in ArcBest by 385.8% during the third quarter. Schonfeld Strategic Advisors LLC now owns 26,717 shares of the transportation company’s stock worth $2,716,000 after acquiring an additional 21,217 shares during the period. Wakefield Asset Management LLLP bought a new position in ArcBest in the fourth quarter worth about $806,000. American Century Companies Inc. boosted its stake in ArcBest by 10.5% in the third quarter. American Century Companies Inc. now owns 378,206 shares of the transportation company’s stock valued at $38,445,000 after acquiring an additional 35,968 shares during the period. 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 purchasing an additional 13,165 shares during the last quarter. 99.27% of the stock is currently owned by institutional investors.

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.