UBS Group Cuts ArcBest (NASDAQ:ARCB) Price Target to $126.00

ArcBest (NASDAQ:ARCB) had its price target trimmed by UBS Group from $150.00 to $126.00 in a research note published on Wednesday, Benzinga reports. The firm currently has a neutral rating on the transportation company’s stock.

Other analysts have also recently issued research reports about the company. TD Cowen reduced their price objective on ArcBest from $177.00 to $148.00 and set a buy rating for the company in a research report on Wednesday. The Goldman Sachs Group boosted their price target on ArcBest from $133.00 to $149.00 and gave the company a neutral rating in a report on Thursday, April 11th. JPMorgan Chase & Co. cut their price target on ArcBest from $164.00 to $145.00 and set an overweight rating for the company in a report on Wednesday. Bank of America boosted their price target on ArcBest from $141.00 to $143.00 and gave the company an underperform rating in a report on Monday, April 15th. Finally, Morgan Stanley boosted their price target on ArcBest from $155.00 to $175.00 and gave the company an overweight rating in a report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $143.38.

ArcBest Stock Up 1.9 %

ArcBest stock opened at $114.85 on Wednesday. The stock has a market cap of $2.70 billion, a PE ratio of 23.11, a price-to-earnings-growth ratio of 0.52 and a beta of 1.56. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.26 and a current ratio of 1.23. ArcBest has a one year low of $82.18 and a one year high of $153.60. The stock has a fifty day moving average of $137.54 and a 200 day moving average of $125.79.

ArcBest (NASDAQ:ARCB) last posted 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). The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. ArcBest had a net margin of 2.80% and a return on equity of 15.27%. The firm’s revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.58 EPS. As a group, sell-side analysts predict that ArcBest will post 9.43 EPS for the current year.

ArcBest Announces Dividend

The company 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 dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend is Thursday, May 9th. ArcBest’s payout ratio is presently 9.66%.

Insider Activity at ArcBest

In related news, insider Erin K. Gattis sold 2,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $141.58, for a total transaction 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 sale was disclosed in a filing with the SEC, which is available through this link. 1.65% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ArcBest

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cooper Creek Partners Management LLC purchased a new stake in ArcBest during the third quarter valued at approximately $29,108,000. Allspring Global Investments Holdings LLC raised its holdings in shares of ArcBest by 175.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 195,270 shares of the transportation company’s stock worth $19,849,000 after buying an additional 124,354 shares during the period. Wellington Management Group LLP purchased a new stake in shares of ArcBest in the third quarter worth approximately $10,561,000. Norges Bank purchased a new stake in shares of ArcBest in the fourth quarter worth approximately $9,298,000. Finally, Moody Aldrich Partners LLC purchased a new stake in shares of ArcBest in the third quarter worth approximately $5,835,000. 99.27% of the stock is owned by institutional investors.

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.