ArcBest (NASDAQ:ARCB) Given New $108.00 Price Target at The Goldman Sachs Group

ArcBest (NASDAQ:ARCB) had its price target decreased by The Goldman Sachs Group from $126.00 to $108.00 in a research report sent to investors on Friday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the transportation company’s stock.

ARCB has been the topic of a number of other research reports. Wells Fargo & Company cut their target price on shares of ArcBest from $105.00 to $96.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. Stifel Nicolaus raised their target price on shares of ArcBest from $109.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Truist Financial initiated coverage on shares of ArcBest in a report on Thursday. They set a “buy” rating and a $93.00 price target on the stock. Citigroup cut their price target on shares of ArcBest from $103.00 to $83.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Finally, UBS Group cut their price target on shares of ArcBest from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, ArcBest currently has an average rating of “Hold” and a consensus price target of $108.33.

ArcBest Stock Up 0.4 %

Shares of ARCB opened at $73.35 on Friday. ArcBest has a 12 month low of $70.96 and a 12 month high of $153.61. The firm’s 50 day moving average is $90.03 and its 200-day moving average is $99.94. The stock has a market capitalization of $1.70 billion, a PE ratio of 10.01, a P/E/G ratio of 1.70 and a beta of 1.54. The company has a current ratio of 1.01, a quick ratio of 1.04 and a debt-to-equity ratio of 0.10.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings data on Friday, January 31st. The transportation company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the business earned $2.47 EPS. Equities research analysts forecast that ArcBest will post 7 EPS for the current year.

ArcBest Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend was Tuesday, February 11th. ArcBest’s dividend payout ratio (DPR) is currently 6.55%.

Insider Buying and Selling at ArcBest

In other ArcBest news, CFO John Matthew Beasley bought 700 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was bought at an average cost of $74.89 per share, with a total value of $52,423.00. Following the completion of the transaction, the chief financial officer now directly owns 8,142 shares in the company, valued at approximately $609,754.38. The trade was a 9.41 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 1.65% of the company’s stock.

Institutional Investors Weigh In On ArcBest

Hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp increased its position in shares of ArcBest by 1.9% during the third 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 in the last quarter. JPMorgan Chase & Co. boosted its holdings in ArcBest by 24.6% during 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 boosted its holdings in ArcBest by 92.3% during the third quarter. Intech Investment Management LLC now owns 10,753 shares of the transportation company’s stock worth $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 boosted its holdings 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 worth $12,653,000 after purchasing an additional 16,103 shares during the last quarter. Finally, Barclays PLC boosted its holdings in ArcBest by 342.5% during the third quarter. Barclays PLC now owns 43,134 shares of the transportation company’s stock worth $4,678,000 after purchasing an additional 33,386 shares during the last quarter. 99.27% of the stock is 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.