Stifel Nicolaus Cuts ArcBest (NASDAQ:ARCB) Price Target to $119.00

ArcBest (NASDAQ:ARCB) had its target price lowered by Stifel Nicolaus from $131.00 to $119.00 in a research report released on Monday morning, Benzinga reports. The firm currently has a buy rating on the transportation company’s stock.

Other research analysts also recently issued research reports about the company. Wolfe Research downgraded ArcBest from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. The Goldman Sachs Group lowered their price objective on ArcBest from $133.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Morgan Stanley cut their target price on shares of ArcBest from $180.00 to $176.00 and set an “overweight” rating on the stock in a report on Monday, July 8th. Citigroup started coverage on shares of ArcBest in a report on Wednesday, October 9th. They set a “neutral” rating and a $111.00 price target for the company. Finally, Bank of America cut their price target on shares of ArcBest from $102.00 to $99.00 and set an “underperform” rating on the stock in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, ArcBest has a consensus rating of “Hold” and an average price target of $126.92.

ArcBest Stock Performance

NASDAQ:ARCB opened at $99.80 on Monday. The company has a market capitalization of $2.34 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 1.28 and a beta of 1.46. The business has a 50 day moving average of $105.34 and a 200 day moving average of $112.42. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.19 and a quick ratio of 1.19. ArcBest has a 1-year low of $86.93 and a 1-year high of $153.60.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings data on Friday, August 2nd. The transportation company reported $1.98 earnings per share for the quarter, missing analysts’ consensus estimates of $2.03 by ($0.05). The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.06 billion. ArcBest had a return on equity of 15.98% and a net margin of 2.96%. The company’s revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.54 earnings per share. On average, sell-side analysts predict that ArcBest will post 7.06 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were issued a $0.12 dividend. The ex-dividend date was Tuesday, August 13th. This represents a $0.48 annualized dividend and a yield of 0.48%. ArcBest’s dividend payout ratio (DPR) is presently 9.66%.

Insider Buying and Selling at ArcBest

In other news, Director Salvatore A. Abbate bought 1,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was purchased at an average price of $103.93 per share, with a total value of $103,930.00. Following the transaction, the director now owns 3,650 shares of the company’s stock, valued at approximately $379,344.50. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.65% of the company’s stock.

Institutional Trading of ArcBest

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Quarry LP grew its holdings in ArcBest by 120.7% in the second quarter. Quarry LP now owns 245 shares of the transportation company’s stock worth $26,000 after purchasing an additional 134 shares during the period. Innealta Capital LLC purchased a new stake in shares of ArcBest in the 2nd quarter worth approximately $33,000. Quest Partners LLC bought a new position in ArcBest during the 2nd quarter valued at approximately $36,000. Cultivar Capital Inc. purchased a new position in ArcBest during the second quarter valued at $43,000. Finally, Mather Group LLC. bought a new stake in ArcBest in the second quarter worth $46,000. 99.27% of the stock is owned by hedge funds and other 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.