ArcBest (NASDAQ:ARCB) Price Target Raised to $143.00

ArcBest (NASDAQ:ARCB) had its price target upped by Bank of America from $141.00 to $143.00 in a research note issued to investors on Monday, Benzinga reports. Bank of America currently has an underperform rating on the transportation company’s stock.

A number of other equities research analysts have also commented on ARCB. Deutsche Bank Aktiengesellschaft initiated coverage on shares of ArcBest in a research note on Monday, January 29th. They issued a buy rating and a $148.00 price objective on the stock. TD Cowen raised their price target on shares of ArcBest from $141.00 to $178.00 and gave the company an outperform rating in a research report on Wednesday, February 7th. The Goldman Sachs Group raised their price target 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. UBS Group raised their price objective on shares of ArcBest from $119.00 to $150.00 and gave the stock a neutral rating in a report on Friday, February 16th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of ArcBest from $168.00 to $164.00 and set an overweight rating for the company in a report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued 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 $151.54.

ArcBest Price Performance

Shares of ArcBest stock opened at $140.00 on Monday. ArcBest has a twelve month low of $82.18 and a twelve month 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. The company has a 50-day simple moving average of $140.66 and a two-hundred day simple moving average of $123.38. The stock has a market capitalization of $3.29 billion, a price-to-earnings ratio of 17.70, a price-to-earnings-growth ratio of 0.63 and a beta of 1.49.

ArcBest (NASDAQ:ARCB) last issued its earnings results on Tuesday, February 6th. The transportation company reported $2.47 EPS for the quarter, beating the consensus estimate of $2.22 by $0.25. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.09 billion. ArcBest had a net margin of 4.41% and a return on equity of 15.91%. The business’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.45 EPS. Analysts forecast that ArcBest will post 10.05 EPS for the current year.

ArcBest Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.34%. ArcBest’s dividend payout ratio is currently 6.07%.

Insider Buying and Selling

In other ArcBest news, insider Erin K. Gattis sold 2,000 shares of ArcBest stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $141.58, for a total value of $283,160.00. Following the transaction, the insider now owns 32,247 shares in the company, valued at $4,565,530.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.18% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ARCB. Contravisory Investment Management Inc. increased its position in shares of ArcBest by 70.9% in the first quarter. Contravisory Investment Management Inc. now owns 188 shares of the transportation company’s stock valued at $27,000 after buying an additional 78 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in ArcBest by 49.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 227 shares of the transportation company’s stock valued at $27,000 after buying an additional 75 shares in the last quarter. Allworth Financial LP lifted its stake in shares of ArcBest by 15,450.0% in the 3rd quarter. Allworth Financial LP now owns 311 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 309 shares during the last quarter. GAMMA Investing LLC acquired a new position in shares of ArcBest in the 4th quarter valued at $39,000. Finally, Parallel Advisors LLC lifted its stake in shares of ArcBest by 45.8% in the 4th quarter. Parallel Advisors LLC now owns 363 shares of the transportation company’s stock valued at $44,000 after purchasing an additional 114 shares during the last quarter. 99.27% of the stock is owned by institutional investors and hedge funds.

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.