ArcBest (NASDAQ:ARCB) Price Target Raised to $125.00 at Stifel Nicolaus

ArcBest (NASDAQ:ARCB) had its price target boosted by Stifel Nicolaus from $109.00 to $125.00 in a research note published on Thursday,Benzinga reports. They currently have a buy rating on the transportation company’s stock.

Several other equities research analysts have also commented on the stock. Jefferies Financial Group reduced their price target on shares of ArcBest from $140.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, October 10th. UBS Group reduced their price objective on shares of ArcBest from $111.00 to $110.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. JPMorgan Chase & Co. dropped their target price on ArcBest from $130.00 to $117.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. StockNews.com upgraded ArcBest from a “hold” rating to a “buy” rating in a report on Thursday, October 3rd. Finally, Morgan Stanley decreased their price objective 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 analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $125.00.

ArcBest Stock Up 1.8 %

Shares of NASDAQ:ARCB opened at $100.23 on Thursday. The business’s 50 day moving average is $102.87 and its 200 day moving average is $106.49. The stock has a market cap of $2.35 billion, a P/E ratio of 12.37, a price-to-earnings-growth ratio of 1.86 and a beta of 1.53. ArcBest has a 52-week low of $91.01 and a 52-week high of $153.60. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.09.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings results on Friday, November 1st. The transportation company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.20). The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.07 billion. ArcBest had a return on equity of 14.27% and a net margin of 4.54%. ArcBest’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.31 EPS. Sell-side analysts predict that ArcBest will post 6.02 EPS for the current year.

ArcBest Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 0.48%. The ex-dividend date was Wednesday, November 13th. ArcBest’s dividend payout ratio is presently 5.93%.

Insider Buying and Selling at ArcBest

In related news, SVP Michael E. Newcity sold 10,443 shares of ArcBest 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 $609,150.60. The trade was a 67.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Craig E. Philip sold 3,900 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $109.91, for a total transaction of $428,649.00. Following the completion of the sale, the director now directly owns 23,250 shares in the company, valued at $2,555,407.50. This trade represents a 14.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.65% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ArcBest

Several large investors have recently made changes to their positions in ARCB. XTX Topco Ltd grew its stake in ArcBest by 42.5% in the 2nd quarter. XTX Topco Ltd now owns 3,724 shares of the transportation company’s stock valued at $399,000 after acquiring an additional 1,110 shares during the period. Intech Investment Management LLC purchased a new position in ArcBest during the second quarter worth approximately $599,000. Public Sector Pension Investment Board boosted its position in shares of ArcBest by 6.4% during the 2nd quarter. Public Sector Pension Investment Board now owns 51,604 shares of the transportation company’s stock valued at $5,526,000 after acquiring an additional 3,098 shares during the last quarter. Evergreen Capital Management LLC grew its stake in shares of ArcBest by 9.0% in the 2nd quarter. Evergreen Capital Management LLC now owns 2,200 shares of the transportation company’s stock valued at $236,000 after buying an additional 181 shares during the period. Finally, Marshall Wace LLP increased its stake in ArcBest by 158.7% during the second quarter. Marshall Wace LLP now owns 191,987 shares of the transportation company’s stock worth $20,558,000 after acquiring an additional 117,774 shares during the last quarter. 99.27% of the stock is currently 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.