ArcBest (NASDAQ:ARCB) Given New $96.00 Price Target at Wells Fargo & Company

ArcBest (NASDAQ:ARCB) had its price target lowered by Wells Fargo & Company from $105.00 to $96.00 in a report published on Monday,Benzinga reports. The firm currently has an equal weight rating on the transportation company’s stock.

Other equities research analysts have also issued reports about the stock. Wolfe Research lowered shares of ArcBest from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, October 9th. Stifel Nicolaus upped their price target on ArcBest from $109.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. UBS Group reduced their price objective on ArcBest from $111.00 to $110.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Morgan Stanley dropped their target price on ArcBest from $160.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, TD Cowen downgraded ArcBest from a “buy” rating to a “hold” rating and decreased their price target for the stock from $131.00 to $114.00 in a research note on Monday, October 14th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $118.91.

ArcBest Trading Up 0.3 %

Shares of ArcBest stock opened at $95.65 on Monday. The company has a current ratio of 1.01, a quick ratio of 1.04 and a debt-to-equity ratio of 0.10. The company has a fifty day simple moving average of $100.17 and a 200-day simple moving average of $105.21. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 1.78 and a beta of 1.51. ArcBest has a 12-month low of $90.25 and a 12-month high of $153.60.

ArcBest (NASDAQ:ARCB) last announced its earnings results on Friday, January 31st. The transportation company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.22. ArcBest had a net margin of 4.16% and a return on equity of 11.79%. During the same quarter last year, the firm earned $2.47 EPS. On average, equities analysts forecast that ArcBest will post 7.5 EPS for the current fiscal year.

ArcBest Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend is Tuesday, February 11th. ArcBest’s dividend payout ratio (DPR) is currently 6.55%.

Insider Transactions at ArcBest

In related news, Director Craig E. Philip sold 3,900 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $109.91, for a total value of $428,649.00. Following the completion of the transaction, the director now owns 23,250 shares of the company’s stock, valued at $2,555,407.50. The trade was a 14.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.18% of the stock is currently owned by corporate insiders.

Institutional Trading of ArcBest

Several large investors have recently made changes to their positions in the company. Quarry LP increased its stake in shares of ArcBest by 120.7% in the 2nd quarter. Quarry LP now owns 245 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 134 shares during the last quarter. Blue Trust Inc. grew its position in ArcBest by 146.3% in the fourth quarter. Blue Trust Inc. now owns 298 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 177 shares during the last quarter. R Squared Ltd acquired a new position in ArcBest during the fourth quarter worth about $40,000. Smartleaf Asset Management LLC grew its stake in shares of ArcBest by 471.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 549 shares of the transportation company’s stock worth $51,000 after buying an additional 453 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of ArcBest by 63.7% during the third quarter. GAMMA Investing LLC now owns 514 shares of the transportation company’s stock worth $56,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds 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.