ArcBest (NASDAQ:ARCB) Given New $117.00 Price Target at JPMorgan Chase & Co.

ArcBest (NASDAQ:ARCB) had its target price lowered by JPMorgan Chase & Co. from $130.00 to $117.00 in a report issued on Monday morning,Benzinga reports. The firm currently has a neutral rating on the transportation company’s stock.

Several other analysts have also recently issued reports on ARCB. The Goldman Sachs Group dropped their target price on ArcBest from $133.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. TD Cowen cut ArcBest from a “buy” rating to a “hold” rating and dropped their target price for the company from $131.00 to $114.00 in a research report on Monday, October 14th. Jefferies Financial Group dropped their target price on ArcBest from $140.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. StockNews.com raised ArcBest from a “hold” rating to a “buy” rating in a research report on Thursday, October 3rd. Finally, Stephens reissued an “overweight” rating and issued a $130.00 price objective on shares of ArcBest in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, ArcBest has a consensus rating of “Hold” and an average target price of $123.17.

ArcBest Stock Down 6.6 %

Shares of NASDAQ:ARCB opened at $112.86 on Monday. ArcBest has a 52-week low of $94.76 and a 52-week high of $153.60. The stock has a market cap of $2.64 billion, a P/E ratio of 13.93, a price-to-earnings-growth ratio of 1.36 and a beta of 1.47. The business’s 50 day moving average is $104.94 and its 200 day moving average is $109.55. The company has a quick ratio of 1.19, a current ratio of 1.04 and a debt-to-equity ratio of 0.09.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings data on Friday, November 1st. The transportation company reported $1.64 earnings per share (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 during the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the company earned $2.31 EPS. The firm’s revenue for the quarter was down 5.8% compared to the same quarter last year. Sell-side analysts predict that ArcBest will post 6.69 EPS for the current year.

ArcBest Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be paid a $0.12 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $0.48 dividend on an annualized basis and a yield of 0.43%. ArcBest’s dividend payout ratio (DPR) is 5.93%.

Insider Buying and Selling

In related news, Director Salvatore A. Abbate acquired 1,000 shares of ArcBest stock in a transaction on Monday, August 12th. The stock was acquired at an average price of $103.93 per share, for a total transaction of $103,930.00. Following the purchase, the director now owns 3,650 shares of the company’s stock, valued at approximately $379,344.50. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.18% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ArcBest

A number of institutional investors have recently modified their holdings of the stock. OneDigital Investment Advisors LLC raised its stake in shares of ArcBest by 3.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,509 shares of the transportation company’s stock valued at $272,000 after buying an additional 86 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in shares of ArcBest by 0.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 11,800 shares of the transportation company’s stock valued at $1,264,000 after buying an additional 100 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of ArcBest by 4.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,225 shares of the transportation company’s stock valued at $350,000 after buying an additional 124 shares during the last quarter. Johnson Investment Counsel Inc. grew its position in shares of ArcBest by 6.5% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 2,095 shares of the transportation company’s stock valued at $224,000 after acquiring an additional 128 shares during the period. Finally, Sequoia Financial Advisors LLC grew its position in shares of ArcBest by 3.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,858 shares of the transportation company’s stock valued at $550,000 after acquiring an additional 131 shares during the period. Hedge funds and other institutional investors own 99.27% of the company’s stock.

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.