ArcBest (NASDAQ:ARCB) Price Target Cut to $110.00 by Analysts at UBS Group

ArcBest (NASDAQ:ARCB) had its target price decreased by UBS Group from $111.00 to $110.00 in a report issued on Monday morning, Benzinga reports. UBS Group currently has a neutral rating on the transportation company’s stock.

A number of other research analysts also recently issued reports on ARCB. Stifel Nicolaus dropped their target price on shares of ArcBest from $131.00 to $119.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. JPMorgan Chase & Co. dropped their price objective on shares of ArcBest from $130.00 to $117.00 and set a “neutral” rating on the stock in a report on Monday. StockNews.com raised shares of ArcBest from a “hold” rating to a “buy” rating in a research report on Thursday, October 3rd. Citigroup initiated coverage on ArcBest in a research report on Wednesday, October 9th. They issued a “neutral” rating and a $111.00 target price for the company. Finally, The Goldman Sachs Group cut their price target on ArcBest from $133.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $123.17.

ArcBest Price Performance

Shares of NASDAQ ARCB opened at $100.54 on Monday. The company has a market capitalization of $2.38 billion, a PE ratio of 19.01, a P/E/G ratio of 1.36 and a beta of 1.47. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.12. ArcBest has a twelve month low of $94.76 and a twelve month high of $153.60. The firm has a fifty day simple moving average of $104.52 and a 200 day simple moving average of $109.69.

ArcBest (NASDAQ:ARCB) last announced its earnings results on Friday, November 1st. The transportation company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.84 by ($0.20). ArcBest had a net margin of 2.96% and a return on equity of 15.98%. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the company earned $2.31 EPS. The firm’s revenue for the quarter was down 5.8% on a year-over-year basis. On average, sell-side analysts forecast that ArcBest will post 6.89 EPS for the current year.

ArcBest Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be issued a dividend of $0.12 per share. The ex-dividend date is Wednesday, November 13th. This represents a $0.48 annualized dividend and a yield of 0.48%. ArcBest’s dividend payout ratio (DPR) is currently 9.07%.

Insider Activity at ArcBest

In other news, Director Salvatore A. Abbate acquired 1,000 shares of the business’s stock in a transaction on Monday, August 12th. The shares were purchased at an average cost of $103.93 per share, with a total value of $103,930.00. Following the acquisition, the director now directly owns 3,650 shares of the company’s stock, valued at $379,344.50. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.65% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ArcBest

Several hedge funds have recently modified their holdings of ARCB. Meritage Portfolio Management grew its holdings in shares of ArcBest by 9.3% in the third quarter. Meritage Portfolio Management now owns 3,680 shares of the transportation company’s stock valued at $399,000 after acquiring an additional 312 shares in the last quarter. QRG Capital Management Inc. grew its stake in ArcBest by 6.5% in the 3rd quarter. QRG Capital Management Inc. now owns 3,156 shares of the transportation company’s stock valued at $342,000 after purchasing an additional 193 shares during the period. Stephens Inc. AR increased its position in shares of ArcBest by 26.0% during the 3rd quarter. Stephens Inc. AR now owns 7,958 shares of the transportation company’s stock valued at $863,000 after purchasing an additional 1,640 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of ArcBest by 4.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,225 shares of the transportation company’s stock worth $350,000 after purchasing an additional 124 shares during the period. Finally, Semanteon Capital Management LP purchased a new position in shares of ArcBest in the 3rd quarter worth about $1,178,000. 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.