ArcBest (NASDAQ:ARCB) Price Target Cut to $109.00 by Analysts at Stifel Nicolaus

ArcBest (NASDAQ:ARCB) had its target price reduced by Stifel Nicolaus from $114.00 to $109.00 in a report released on Wednesday,Benzinga reports. They currently have a buy rating on the transportation company’s stock.

A number of other equities analysts have also recently weighed in on ARCB. JPMorgan Chase & Co. cut their price target on ArcBest from $130.00 to $117.00 and set a “neutral” rating for the company in a report on Monday, November 4th. StockNews.com raised ArcBest from a “hold” rating to a “buy” rating in a report on Thursday, October 3rd. TD Cowen cut ArcBest from a “buy” rating to a “hold” rating and cut their price target for the stock from $131.00 to $114.00 in a report on Monday, October 14th. UBS Group dropped their target price on ArcBest from $111.00 to $110.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Finally, Morgan Stanley dropped their target price on ArcBest from $175.00 to $170.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $123.67.

ArcBest Stock Performance

Shares of ARCB stock opened at $101.62 on Wednesday. The stock has a fifty day moving average price of $104.48 and a 200 day moving average price of $106.77. The stock has a market cap of $2.38 billion, a PE ratio of 12.55, a P/E/G ratio of 2.56 and a beta of 1.53. ArcBest has a 1 year low of $91.01 and a 1 year high of $153.60. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings results on Friday, November 1st. The transportation company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.20). ArcBest had a return on equity of 14.27% and a net margin of 4.54%. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the firm earned $2.31 earnings per share. The business’s revenue was down 5.8% compared to the same quarter last year. Sell-side analysts forecast that ArcBest will post 6.06 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date was Wednesday, November 13th. ArcBest’s dividend payout ratio (DPR) is presently 5.93%.

Insider Buying and Selling at ArcBest

In other ArcBest news, SVP Michael E. Newcity sold 10,443 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $120.60, for a total transaction of $1,259,425.80. Following the completion of the sale, the senior vice president now owns 5,051 shares of the company’s stock, valued at approximately $609,150.60. The trade was a 67.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Craig E. Philip sold 3,900 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $109.91, for a total value of $428,649.00. Following the sale, the director now directly owns 23,250 shares of the company’s stock, valued at approximately $2,555,407.50. This trade represents a 14.36 % decrease in their position. The disclosure for this sale can be found here. 1.65% of the stock is owned by company insiders.

Institutional Investors Weigh In On ArcBest

Institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp boosted its position in shares of ArcBest by 1.9% in the third quarter. State Street Corp now owns 957,410 shares of the transportation company’s stock worth $103,831,000 after buying an additional 17,542 shares during the period. JPMorgan Chase & Co. boosted its position in shares of ArcBest by 24.6% in the third quarter. JPMorgan Chase & Co. now owns 221,507 shares of the transportation company’s stock worth $24,022,000 after buying an additional 43,707 shares during the period. Intech Investment Management LLC boosted its position in shares of ArcBest by 92.3% in the third quarter. Intech Investment Management LLC now owns 10,753 shares of the transportation company’s stock worth $1,166,000 after buying an additional 5,161 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of ArcBest by 16.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 116,672 shares of the transportation company’s stock worth $12,653,000 after buying an additional 16,103 shares during the period. Finally, Barclays PLC boosted its position in shares of ArcBest by 342.5% in the third quarter. Barclays PLC now owns 43,134 shares of the transportation company’s stock worth $4,678,000 after buying an additional 33,386 shares during the period. Hedge funds and other 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.