ArcBest (NASDAQ:ARCB) Price Target Lowered to $131.00 at Stifel Nicolaus

ArcBest (NASDAQ:ARCB) had its price target trimmed by Stifel Nicolaus from $150.00 to $131.00 in a research report report published on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the transportation company’s stock.

Several other research firms also recently weighed in on ARCB. TD Cowen dropped their price target on ArcBest from $148.00 to $136.00 and set a buy rating on the stock in a research note on Monday. JPMorgan Chase & Co. increased their price target on shares of ArcBest from $127.00 to $134.00 and gave the stock a neutral rating in a report on Monday. UBS Group decreased their price objective on shares of ArcBest from $150.00 to $126.00 and set a neutral rating for the company in a research note on Wednesday, May 1st. Wells Fargo & Company assumed coverage on shares of ArcBest in a research note on Friday, June 7th. They issued an overweight rating and a $140.00 price objective on the stock. Finally, Morgan Stanley decreased their target price on shares of ArcBest from $180.00 to $176.00 and set an overweight rating for the company in a research report on Monday, July 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, ArcBest presently has an average rating of Moderate Buy and an average price target of $143.25.

ArcBest Price Performance

Shares of ARCB stock opened at $106.03 on Tuesday. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of 21.33, a PEG ratio of 0.98 and a beta of 1.48. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.23 and a current ratio of 1.23. The stock’s 50-day simple moving average is $110.79 and its 200-day simple moving average is $124.01. ArcBest has a fifty-two week low of $86.93 and a fifty-two week high of $153.60.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings results 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 during 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 company’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.54 EPS. As a group, equities analysts forecast that ArcBest will post 8.26 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Tuesday, August 13th. ArcBest’s payout ratio is currently 9.66%.

Hedge Funds Weigh In On ArcBest

A number of large investors have recently bought and sold shares of ARCB. Norges Bank acquired a new stake in ArcBest in the fourth quarter valued at approximately $9,298,000. Emerald Advisers LLC acquired a new stake in ArcBest in the 2nd quarter valued at $6,812,000. Zimmer Partners LP acquired a new stake in ArcBest in the 1st quarter valued at $7,838,000. Emerald Mutual Fund Advisers Trust purchased a new stake in ArcBest in the 2nd quarter worth $5,630,000. Finally, FAS Wealth Partners Inc. raised its position in ArcBest by 86.3% during the second 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 period. Institutional investors and hedge funds 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.