ArcBest (NASDAQ:ARCB) Price Target Cut to $136.00 by Analysts at TD Cowen

ArcBest (NASDAQ:ARCB) had its price target trimmed by TD Cowen from $148.00 to $136.00 in a research note issued to investors on Monday, MarketBeat reports. The firm currently has a buy rating on the transportation company’s stock.

A number of other analysts have also recently issued reports on the stock. Bank of America lifted their target price on shares of ArcBest from $110.00 to $112.00 and gave the company an underperform rating in a research note on Monday, July 22nd. Morgan Stanley decreased their price objective on shares of ArcBest from $180.00 to $176.00 and set an overweight rating for the company in a report on Monday, July 8th. Stifel Nicolaus cut their target price on ArcBest from $159.00 to $150.00 and set a buy rating on the stock in a report on Wednesday, May 15th. JPMorgan Chase & Co. downgraded ArcBest from an overweight rating to a neutral rating and decreased their price target for the stock from $145.00 to $127.00 in a research note on Tuesday, July 9th. Finally, Wells Fargo & Company assumed coverage on ArcBest in a research note on Friday, June 7th. They issued an overweight rating and a $140.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, ArcBest presently has an average rating of Moderate Buy and an average price target of $143.25.

ArcBest Stock Performance

Shares of ARCB opened at $106.03 on Monday. The company has a market capitalization of $2.48 billion, a PE 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 company’s 50 day moving average price is $110.79 and its 200 day moving average price is $124.01. ArcBest has a 52 week low of $86.93 and a 52 week high of $153.60.

ArcBest (NASDAQ:ARCB) last issued its earnings results on Friday, August 2nd. The transportation company reported $1.98 earnings per share for the quarter, missing the consensus estimate of $2.03 by ($0.05). The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.06 billion. ArcBest had a return on equity of 15.27% and a net margin of 2.80%. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.54 earnings per share. Research analysts expect that ArcBest will post 8.26 EPS for the current fiscal year.

ArcBest Dividend Announcement

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

Hedge Funds Weigh In On ArcBest

Several large investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC increased its holdings in shares of ArcBest by 49.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 227 shares of the transportation company’s stock worth $27,000 after purchasing an additional 75 shares during the period. Contravisory Investment Management Inc. increased its stake in ArcBest by 70.9% during the first quarter. Contravisory Investment Management Inc. now owns 188 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 78 shares during the period. Innealta Capital LLC acquired a new position in ArcBest in the 2nd quarter valued at approximately $33,000. Quest Partners LLC bought a new stake in shares of ArcBest in the 2nd quarter worth approximately $36,000. Finally, GAMMA Investing LLC acquired a new stake in shares of ArcBest during the 4th quarter worth approximately $39,000. 99.27% of the stock is currently owned by institutional investors and hedge funds.

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.