ArcBest (NASDAQ:ARCB) Price Target Cut to $109.00 by Analysts at Stifel Nicolaus

ArcBest (NASDAQ:ARCB) had its target price cut by Stifel Nicolaus from $114.00 to $109.00 in a report issued on Wednesday,Benzinga reports. They currently have a buy rating on the transportation company’s stock.

A number of other equities analysts have also weighed in on the company. Wells Fargo & Company lowered their price objective on ArcBest from $115.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Citigroup boosted their price objective on ArcBest from $110.00 to $127.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. lowered their price objective on ArcBest from $130.00 to $117.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Morgan Stanley lowered their price objective on ArcBest from $175.00 to $170.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Finally, The Goldman Sachs Group lowered their price objective on ArcBest from $133.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $123.67.

ArcBest Stock Up 1.1 %

Shares of ARCB opened at $101.62 on Wednesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04. ArcBest has a one year low of $91.01 and a one year high of $153.60. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of 12.55, a PEG ratio of 2.56 and a beta of 1.53. The stock has a 50 day moving average price of $104.48 and a 200 day moving average price of $106.77.

ArcBest (NASDAQ:ARCB) last issued its quarterly 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 return on equity of 14.27% and a net margin of 4.54%. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the firm posted $2.31 earnings per share. The firm’s revenue for the quarter was down 5.8% compared to the same quarter last year. Equities research analysts forecast that ArcBest will post 6.06 earnings per share for the current fiscal year.

ArcBest Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were issued a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $0.48 annualized dividend and a dividend yield of 0.47%. ArcBest’s dividend payout ratio is presently 5.93%.

Insider Activity at ArcBest

In related news, Director Craig E. Philip sold 3,900 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $109.91, for a total value of $428,649.00. Following the sale, the director now owns 23,250 shares in the company, valued at approximately $2,555,407.50. The trade was a 14.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael E. Newcity sold 10,443 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $120.60, for a total value of $1,259,425.80. Following the sale, the senior vice president now owns 5,051 shares in the company, valued at approximately $609,150.60. This trade represents a 67.40 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.65% of the company’s stock.

Institutional Trading of ArcBest

A number of large investors have recently made changes to their positions in ARCB. State Street Corp grew its stake in shares of ArcBest by 1.9% in the 3rd quarter. State Street Corp now owns 957,410 shares of the transportation company’s stock valued at $103,831,000 after purchasing an additional 17,542 shares during the last quarter. Westwood Holdings Group Inc. boosted its stake in shares of ArcBest by 34.7% in the second quarter. Westwood Holdings Group Inc. now owns 583,762 shares of the transportation company’s stock valued at $62,509,000 after buying an additional 150,467 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of ArcBest by 0.6% in the third quarter. Geode Capital Management LLC now owns 551,821 shares of the transportation company’s stock valued at $59,856,000 after buying an additional 3,475 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of ArcBest by 5.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 414,261 shares of the transportation company’s stock valued at $44,927,000 after buying an additional 21,905 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of ArcBest by 24.6% in the third quarter. JPMorgan Chase & Co. now owns 221,507 shares of the transportation company’s stock valued at $24,022,000 after buying an additional 43,707 shares in the last quarter. 99.27% of the stock is owned by institutional investors and hedge funds.

About ArcBest

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.