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

ArcBest (NASDAQ:ARCB) had its target price cut by Stifel Nicolaus from $150.00 to $131.00 in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have a buy rating on the transportation company’s stock.

A number of other equities research analysts have also recently commented on the company. UBS Group cut their target price on ArcBest from $150.00 to $126.00 and set a neutral rating on the stock in a research note on Wednesday, May 1st. StockNews.com raised shares of ArcBest from a hold rating to a buy rating in a research report on Monday. Bank of America lifted their target price on shares of ArcBest from $110.00 to $112.00 and gave the stock an underperform rating in a report on Monday, July 22nd. The Goldman Sachs Group increased their price target on shares of ArcBest from $133.00 to $149.00 and gave the company a neutral rating in a report on Thursday, April 11th. Finally, TD Cowen decreased their price objective on shares of ArcBest from $148.00 to $136.00 and set a buy rating for the company in a report on Monday. 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, the company currently has an average rating of Moderate Buy and a consensus target price of $143.25.

ArcBest Stock Up 2.5 %

Shares of ArcBest stock opened at $106.03 on Tuesday. ArcBest has a 1 year low of $86.93 and a 1 year high of $153.60. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.23 and a quick ratio of 1.23. The company has a 50-day moving average of $110.79 and a 200 day moving average of $124.01. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of 21.33, a PEG ratio of 0.98 and a beta of 1.48.

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

ArcBest Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th will be issued a dividend of $0.12 per share. The ex-dividend date 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%.

Institutional Trading of ArcBest

Several large investors have recently modified their holdings of ARCB. Norges Bank purchased a new position in ArcBest in the fourth quarter worth about $9,298,000. Emerald Advisers LLC purchased a new stake in ArcBest during the second quarter valued at approximately $6,812,000. Zimmer Partners LP purchased a new stake in ArcBest during the first quarter valued at approximately $7,838,000. Emerald Mutual Fund Advisers Trust bought a new position in ArcBest in the second quarter worth approximately $5,630,000. Finally, FAS Wealth Partners Inc. boosted its stake in shares of ArcBest by 86.3% during the 2nd 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 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.