ArcBest (NASDAQ:ARCB) Price Target Lowered to $109.00 at Stifel Nicolaus

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

ARCB has been the subject of several other research reports. Wolfe Research cut ArcBest from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. TD Cowen cut 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 report on Monday, October 14th. Jefferies Financial Group decreased their price target on ArcBest from $140.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, October 10th. JPMorgan Chase & Co. cut their target price on ArcBest from $130.00 to $117.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Finally, Wells Fargo & Company dropped their price target on ArcBest from $115.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, ArcBest presently has a consensus rating of “Hold” and an average target price of $123.67.

ArcBest Stock Performance

Shares of ARCB opened at $100.19 on Wednesday. The company’s 50 day simple moving average is $103.93 and its 200-day simple moving average is $106.69. ArcBest has a 12-month low of $91.01 and a 12-month high of $153.60. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.09. The firm has a market cap of $2.34 billion, a PE ratio of 12.37, a price-to-earnings-growth ratio of 1.61 and a beta of 1.53.

ArcBest (NASDAQ:ARCB) last released its earnings results on Friday, November 1st. The transportation company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.20). ArcBest had a net margin of 4.54% and a return on equity of 14.27%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the business posted $2.31 EPS. ArcBest’s revenue was down 5.8% compared to the same quarter last year. As a group, equities analysts predict that ArcBest will post 6.03 EPS for the current year.

ArcBest Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.48%. The ex-dividend date was Wednesday, November 13th. ArcBest’s dividend payout ratio is 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 of the company’s stock, valued at $2,555,407.50. The trade was a 14.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael E. Newcity sold 10,443 shares of the business’s stock in a transaction on 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 completion of the transaction, the senior vice president now directly owns 5,051 shares in the company, valued at approximately $609,150.60. This represents a 67.40 % decrease in their position. The disclosure for this sale can be found here. 1.18% of the stock is owned by insiders.

Hedge Funds Weigh In On ArcBest

Several large investors have recently made changes to their positions in ARCB. State Street Corp increased its holdings in ArcBest by 1.9% in the third 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. JPMorgan Chase & Co. increased its holdings in 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 purchasing an additional 43,707 shares during the last quarter. Intech Investment Management LLC increased its holdings in ArcBest by 92.3% in the third quarter. Intech Investment Management LLC now owns 10,753 shares of the transportation company’s stock valued at $1,166,000 after purchasing an additional 5,161 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in ArcBest by 16.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 116,672 shares of the transportation company’s stock valued at $12,653,000 after purchasing an additional 16,103 shares during the last quarter. Finally, Barclays PLC increased its holdings in ArcBest by 342.5% in the third quarter. Barclays PLC now owns 43,134 shares of the transportation company’s stock valued at $4,678,000 after purchasing an additional 33,386 shares during the last quarter. Institutional investors and hedge funds own 99.27% of the company’s stock.

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.