ArcBest (NASDAQ:ARCB) PT Raised to $112.00

ArcBest (NASDAQ:ARCB) had its price target raised by Bank of America from $110.00 to $112.00 in a report published on Monday, Benzinga reports. Bank of America currently has an underperform rating on the transportation company’s stock.

Several other research firms have also weighed in on ARCB. Wells Fargo & Company began coverage on shares of ArcBest in a report on Friday, June 7th. They set an overweight rating and a $140.00 target price on the stock. Morgan Stanley reduced their target price on shares of ArcBest from $180.00 to $176.00 and set an overweight rating on the stock in a report on Monday, July 8th. JPMorgan Chase & Co. lowered shares of ArcBest from an overweight rating to a neutral rating and reduced their target price for the company from $145.00 to $127.00 in a report on Tuesday, July 9th. UBS Group reduced their target price on shares of ArcBest from $150.00 to $126.00 and set a neutral rating on the stock in a report on Wednesday, May 1st. Finally, The Goldman Sachs Group lifted their target price on shares of ArcBest from $133.00 to $149.00 and gave the company a neutral rating in a report on Thursday, April 11th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, ArcBest has an average rating of Moderate Buy and an average target price of $143.85.

ArcBest Stock Down 0.6 %

Shares of ARCB opened at $116.79 on Monday. The firm has a market cap of $2.74 billion, a PE ratio of 23.50, a price-to-earnings-growth ratio of 0.95 and a beta of 1.48. The company’s fifty day moving average is $109.18 and its two-hundred day moving average is $124.30. ArcBest has a fifty-two week low of $86.93 and a fifty-two week high of $153.60. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.12.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings results on Tuesday, April 30th. The transportation company reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.19). The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. ArcBest had a net margin of 2.80% and a return on equity of 15.27%. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.58 EPS. Analysts forecast that ArcBest will post 8.3 earnings per share for the current year.

ArcBest Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Thursday, May 9th. ArcBest’s payout ratio is currently 9.66%.

Institutional Investors Weigh In On ArcBest

Institutional investors have recently modified their holdings of the business. Jump Financial LLC bought a new stake in shares of ArcBest during the 4th quarter valued at about $811,000. Norges Bank bought a new stake in shares of ArcBest during the 4th quarter valued at about $9,298,000. Wakefield Asset Management LLLP acquired a new position in ArcBest during the 4th quarter valued at about $806,000. The Manufacturers Life Insurance Company boosted its stake in ArcBest by 20.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 154,972 shares of the transportation company’s stock valued at $18,629,000 after purchasing an additional 26,411 shares during the period. Finally, Inspire Investing LLC boosted its stake in ArcBest by 39.6% during the 1st quarter. Inspire Investing LLC now owns 15,002 shares of the transportation company’s stock valued at $2,138,000 after purchasing an additional 4,258 shares during the period. 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.