ArcBest Co. (NASDAQ:ARCB – Get Free Report)’s share price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $90.00 and last traded at $90.19, with a volume of 11454 shares trading hands. The stock had previously closed at $91.21.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on ARCB shares. Citigroup increased their price objective on shares of ArcBest from $110.00 to $127.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Wells Fargo & Company dropped their price target on shares of ArcBest from $105.00 to $96.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Stifel Nicolaus upped their price objective on ArcBest from $109.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Morgan Stanley lowered 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, February 3rd. Finally, JPMorgan Chase & Co. reduced their price target on ArcBest from $130.00 to $117.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $118.91.
Read Our Latest Report on ArcBest
ArcBest Price Performance
ArcBest (NASDAQ:ARCB – Get Free Report) last released its quarterly earnings data on Friday, January 31st. The transportation company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate 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 in the previous year, the company earned $2.47 EPS. On average, equities research analysts predict that ArcBest Co. will post 7 EPS for the current year.
ArcBest Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Tuesday, February 11th. ArcBest’s dividend payout ratio (DPR) is presently 6.55%.
Institutional Investors Weigh In On ArcBest
Hedge funds have recently made changes to their positions in the company. State Street Corp increased its stake in ArcBest by 1.9% in the 3rd quarter. State Street Corp now owns 957,410 shares of the transportation company’s stock worth $103,831,000 after acquiring an additional 17,542 shares during the last quarter. JPMorgan Chase & Co. increased its position in ArcBest by 24.6% in the third quarter. JPMorgan Chase & Co. now owns 221,507 shares of the transportation company’s stock worth $24,022,000 after purchasing an additional 43,707 shares during the last quarter. Intech Investment Management LLC raised its stake in ArcBest by 92.3% during 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in ArcBest by 16.0% during 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 grew its stake in shares of ArcBest by 342.5% in the 3rd quarter. Barclays PLC now owns 43,134 shares of the transportation company’s stock worth $4,678,000 after buying an additional 33,386 shares in the last quarter. 99.27% of the stock is currently owned by hedge funds and other institutional investors.
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.
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