Jefferies Financial Group Trims ArcBest (NASDAQ:ARCB) Target Price to $130.00

ArcBest (NASDAQ:ARCB) had its price objective trimmed by Jefferies Financial Group from $140.00 to $130.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a buy rating on the transportation company’s stock.

Several other equities research analysts have also recently issued reports on ARCB. The Goldman Sachs Group dropped 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. Citigroup assumed coverage on ArcBest in a report on Wednesday. They issued a neutral rating and a $111.00 price objective for the company. Morgan Stanley reduced their price objective on ArcBest from $180.00 to $176.00 and set an overweight rating for the company in a research report on Monday, July 8th. Stifel Nicolaus cut their price target on ArcBest from $150.00 to $131.00 and set a buy rating for the company in a research note on Tuesday, August 6th. Finally, Stephens reaffirmed an overweight rating and set a $130.00 price target on shares of ArcBest in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Hold and an average price target of $129.33.

ArcBest Stock Up 4.3 %

ARCB stock opened at $105.95 on Thursday. The stock has a market capitalization of $2.48 billion, a P/E ratio of 21.32, a P/E/G ratio of 1.28 and a beta of 1.46. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.19 and a quick ratio of 1.19. ArcBest has a 1-year low of $86.93 and a 1-year high of $153.60. The business has a fifty day moving average price of $105.55 and a 200-day moving average price of $114.61.

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 analysts’ consensus estimates of $2.03 by ($0.05). The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.06 billion. ArcBest had a return on equity of 15.98% and a net margin of 2.96%. ArcBest’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period last year, the firm posted $1.54 EPS. Equities analysts forecast that ArcBest will post 7.06 earnings per share for the current fiscal year.

ArcBest Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were given a $0.12 dividend. The ex-dividend date was Tuesday, August 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.45%. ArcBest’s payout ratio is currently 9.66%.

Insider Activity

In other news, Director Salvatore A. Abbate bought 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average price of $103.93 per share, with a total value 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. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.65% of the company’s stock.

Institutional Investors Weigh In On ArcBest

A number of institutional investors have recently added to or reduced their stakes in the stock. Contravisory Investment Management Inc. boosted its position in shares of ArcBest by 70.9% during the first quarter. Contravisory Investment Management Inc. now owns 188 shares of the transportation company’s stock worth $27,000 after acquiring an additional 78 shares during the last quarter. Quarry LP lifted its stake in ArcBest by 120.7% in the 2nd quarter. Quarry LP now owns 245 shares of the transportation company’s stock worth $26,000 after purchasing an additional 134 shares in the last quarter. Innealta Capital LLC bought a new position in shares of ArcBest during the 2nd quarter valued at about $33,000. Quest Partners LLC purchased a new position in shares of ArcBest during the second quarter valued at about $36,000. Finally, Cultivar Capital Inc. bought a new stake in shares of ArcBest in the second quarter worth about $43,000. 99.27% of the stock is owned by hedge funds and other institutional investors.

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.