ArcBest (NASDAQ:ARCB) PT Lowered to $136.00

ArcBest (NASDAQ:ARCB) had its price objective lowered by TD Cowen from $148.00 to $136.00 in a research note released on Monday, Marketbeat.com reports. The brokerage currently has a buy rating on the transportation company’s stock.

Other analysts have also recently issued reports about the stock. The Goldman Sachs Group upped their price target 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. StockNews.com downgraded ArcBest from a buy rating to a hold rating in a research report on Thursday, May 2nd. Wells Fargo & Company started coverage on ArcBest in a research report on Friday, June 7th. They issued an overweight rating and a $140.00 price target for the company. Bank of America increased their price objective on ArcBest from $110.00 to $112.00 and gave the stock an underperform rating in a report on Monday, July 22nd. Finally, JPMorgan Chase & Co. downgraded ArcBest from an overweight rating to a neutral rating and cut their target price for the stock from $145.00 to $127.00 in a research note on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $143.25.

ArcBest Stock Up 2.5 %

ArcBest stock traded up $2.65 during midday trading on Monday, hitting $107.52. 208,398 shares of the stock were exchanged, compared to its average volume of 304,414. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of 21.10, a price-to-earnings-growth ratio of 0.98 and a beta of 1.48. ArcBest has a 52-week low of $86.93 and a 52-week high of $153.60. The business’s 50-day moving average price is $110.64 and its 200-day moving average price is $124.44.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings data on Friday, August 2nd. The transportation company reported $1.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.03 by ($0.05). The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.06 billion. ArcBest had a return on equity of 15.27% and a net margin of 2.80%. The business’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the business posted $1.54 EPS. On average, research analysts expect that ArcBest will post 8.26 EPS for the current fiscal year.

ArcBest Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th will be paid a $0.12 dividend. The ex-dividend date is Tuesday, August 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.45%. ArcBest’s dividend payout ratio (DPR) is 9.66%.

Hedge Funds Weigh In On ArcBest

A number of large investors have recently added to or reduced their stakes in ARCB. Emerald Mutual Fund Advisers Trust purchased a new stake in ArcBest during the second quarter valued at about $5,630,000. Versor Investments LP bought a new stake in shares of ArcBest in the 2nd quarter valued at about $447,000. Innealta Capital LLC purchased a new stake in ArcBest during the 2nd quarter valued at about $33,000. Panagora Asset Management Inc. boosted its holdings in ArcBest by 7.7% during the 2nd quarter. Panagora Asset Management Inc. now owns 24,398 shares of the transportation company’s stock valued at $2,613,000 after acquiring an additional 1,738 shares during the period. Finally, FAS Wealth Partners Inc. grew its position in ArcBest by 86.3% during the 2nd quarter. FAS Wealth Partners Inc. now owns 80,050 shares of the transportation company’s stock worth $8,572,000 after acquiring an additional 37,073 shares during the last quarter. Hedge funds and other 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.