UBS Group Has Lowered Expectations for ArcBest (NASDAQ:ARCB) Stock Price

ArcBest (NASDAQ:ARCB) had its price objective trimmed by UBS Group from $111.00 to $110.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a neutral rating on the transportation company’s stock.

Several other equities research analysts have also recently weighed in on the company. StockNews.com upgraded ArcBest from a “hold” rating to a “buy” rating in a report on Thursday, October 3rd. Stephens reissued an “overweight” rating and set a $130.00 price objective on shares of ArcBest in a research note on Wednesday, September 4th. The Goldman Sachs Group cut their target price on shares of ArcBest from $133.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Stifel Nicolaus lowered their price target on shares of ArcBest from $131.00 to $119.00 and set a “buy” rating for the company in a report on Monday, October 21st. Finally, Wolfe Research cut shares of ArcBest from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, ArcBest currently has a consensus rating of “Hold” and a consensus target price of $123.17.

ArcBest Trading Up 0.5 %

ARCB stock opened at $100.54 on Monday. The company has a market capitalization of $2.38 billion, a PE ratio of 19.01, a price-to-earnings-growth ratio of 1.36 and a beta of 1.47. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.19 and a current ratio of 1.19. ArcBest has a one year low of $94.76 and a one year high of $153.60. The company’s 50 day moving average price is $104.52 and its two-hundred day moving average price is $109.69.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings results on Friday, November 1st. The transportation company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.84 by ($0.20). The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.07 billion. ArcBest had a return on equity of 15.98% and a net margin of 2.96%. The business’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.31 earnings per share. As a group, analysts predict that ArcBest will post 6.89 earnings per share for the current fiscal year.

ArcBest Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Wednesday, November 13th. ArcBest’s payout ratio is currently 9.07%.

Insiders Place Their Bets

In other news, Director Salvatore A. Abbate bought 1,000 shares of ArcBest stock in a transaction on Monday, August 12th. The shares were purchased at an average price of $103.93 per share, for a total transaction of $103,930.00. Following the acquisition, the director now owns 3,650 shares of the company’s stock, valued at approximately $379,344.50. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.65% of the stock is currently owned by company insiders.

Institutional Trading of ArcBest

Hedge funds have recently modified their holdings of the business. Westwood Holdings Group Inc. lifted its position in ArcBest by 34.7% during the 2nd quarter. Westwood Holdings Group Inc. now owns 583,762 shares of the transportation company’s stock valued at $62,509,000 after acquiring an additional 150,467 shares during the period. American Century Companies Inc. increased its stake in shares of ArcBest by 4.0% during the second quarter. American Century Companies Inc. now owns 525,471 shares of the transportation company’s stock valued at $56,267,000 after purchasing an additional 20,115 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of ArcBest by 158.7% during the second quarter. Marshall Wace LLP now owns 191,987 shares of the transportation company’s stock valued at $20,558,000 after purchasing an additional 117,774 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of ArcBest by 0.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 150,742 shares of the transportation company’s stock worth $16,141,000 after purchasing an additional 1,214 shares in the last quarter. Finally, FAS Wealth Partners Inc. grew its stake in shares of ArcBest by 86.3% in the 2nd quarter. FAS Wealth Partners Inc. now owns 80,050 shares of the transportation company’s stock worth $8,572,000 after buying an additional 37,073 shares during the last quarter. 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.