ArcBest (NASDAQ:ARCB) Price Target Cut to $148.00

ArcBest (NASDAQ:ARCB) had its target price trimmed by TD Cowen from $177.00 to $148.00 in a research note released on Wednesday morning, MarketBeat.com reports. The brokerage currently has a buy rating on the transportation company’s stock.

ARCB has been the subject of several other reports. UBS Group increased their target price on shares of ArcBest from $119.00 to $150.00 and gave the stock a neutral rating in a report on Friday, February 16th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of ArcBest in a report on Monday, January 29th. They issued a buy rating and a $148.00 target price for the company. The Goldman Sachs Group increased their target price on shares of ArcBest from $133.00 to $149.00 and gave the stock a neutral rating in a report on Thursday, April 11th. Stephens increased their target price on shares of ArcBest from $165.00 to $205.00 and gave the stock an overweight rating in a report on Wednesday, February 7th. Finally, StockNews.com raised shares of ArcBest from a hold rating to a buy rating in a report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $143.38.

ArcBest Price Performance

NASDAQ ARCB opened at $114.85 on Wednesday. ArcBest has a 52 week low of $82.18 and a 52 week high of $153.60. The firm has a market capitalization of $2.70 billion, a P/E ratio of 23.11, a PEG ratio of 0.52 and a beta of 1.56. The company has a quick ratio of 1.26, a current ratio of 1.23 and a debt-to-equity ratio of 0.12. The company has a 50-day moving average price of $137.54 and a 200-day moving average price of $125.79.

ArcBest (NASDAQ:ARCB) last released its earnings results on Tuesday, April 30th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.19). The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. ArcBest had a return on equity of 15.27% and a net margin of 2.80%. The company’s revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.58 earnings per share. Equities research analysts anticipate that ArcBest will post 9.43 earnings per share for the current year.

ArcBest Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be given a dividend of $0.12 per share. The ex-dividend date is Thursday, May 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.42%. ArcBest’s dividend payout ratio is currently 9.66%.

Insider Activity

In other news, insider Erin K. Gattis sold 2,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $141.58, for a total transaction of $283,160.00. Following the completion of the transaction, the insider now directly owns 32,247 shares in the company, valued at approximately $4,565,530.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.65% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. GSA Capital Partners LLP boosted its position in shares of ArcBest by 135.1% during the 1st quarter. GSA Capital Partners LLP now owns 5,130 shares of the transportation company’s stock valued at $731,000 after acquiring an additional 2,948 shares during the last quarter. Seelaus Asset Management LLC bought a new stake in ArcBest in the first quarter worth $309,000. Capstone Investment Advisors LLC lifted its position in ArcBest by 260.3% in the first quarter. Capstone Investment Advisors LLC now owns 6,515 shares of the transportation company’s stock worth $928,000 after buying an additional 4,707 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in ArcBest by 2.8% in the first quarter. Janney Montgomery Scott LLC now owns 25,397 shares of the transportation company’s stock worth $3,619,000 after buying an additional 694 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its position in ArcBest by 3.5% in the first quarter. Sequoia Financial Advisors LLC now owns 3,858 shares of the transportation company’s stock worth $550,000 after buying an additional 131 shares during the last quarter. 99.27% of the stock is currently owned by institutional investors.

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.