ArcBest (NASDAQ:ARCB) Given New $133.00 Price Target at JPMorgan Chase & Co.

ArcBest (NASDAQ:ARCB) had its target price reduced by JPMorgan Chase & Co. from $134.00 to $133.00 in a research report report published on Friday morning, Benzinga reports. They currently have a neutral rating on the transportation company’s stock.

Other equities research analysts have also issued reports about the stock. Bank of America cut their target price on shares of ArcBest from $102.00 to $99.00 and set an underperform rating on the stock in a report on Wednesday. TD Cowen reduced their target price on ArcBest from $136.00 to $131.00 and set a buy rating on the stock in a report on Thursday. Stifel Nicolaus lowered their price target on ArcBest from $150.00 to $131.00 and set a buy rating for the company in a report on Tuesday, August 6th. Wells Fargo & Company cut ArcBest from an overweight rating to an equal weight rating and cut their price objective for the company from $122.00 to $112.00 in a report on Wednesday. Finally, Morgan Stanley decreased their price objective on ArcBest from $180.00 to $176.00 and set an overweight rating for the company in a research report on Monday, July 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, ArcBest currently has a consensus rating of Moderate Buy and an average target price of $133.18.

ArcBest Stock Down 1.0 %

NASDAQ:ARCB opened at $99.10 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.12. ArcBest has a 12-month low of $86.93 and a 12-month high of $153.60. The stock’s fifty day simple moving average is $110.74 and its 200-day simple moving average is $120.57. The firm has a market capitalization of $2.32 billion, a P/E ratio of 19.94, a P/E/G ratio of 1.17 and a beta of 1.48.

ArcBest (NASDAQ:ARCB) last released its earnings results on Friday, August 2nd. The transportation company reported $1.98 earnings per share for the quarter, missing the consensus estimate of $2.03 by ($0.05). The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.06 billion. ArcBest had a net margin of 2.96% and a return on equity of 15.98%. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.54 EPS. Equities research analysts expect that ArcBest will post 7.39 earnings per share for the current year.

ArcBest Dividend Announcement

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

Insider Transactions at ArcBest

In other news, Director Salvatore A. Abbate bought 1,000 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average cost of $103.93 per share, for a total transaction of $103,930.00. Following the completion of the acquisition, the director now owns 3,650 shares in the company, valued at $379,344.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.65% of the company’s stock.

Institutional Investors Weigh In On ArcBest

Several hedge funds have recently bought and sold shares of ARCB. EverSource Wealth Advisors LLC raised its stake in ArcBest by 49.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 227 shares of the transportation company’s stock valued at $27,000 after buying an additional 75 shares during the period. Contravisory Investment Management Inc. raised its stake in ArcBest by 70.9% in the 1st quarter. Contravisory Investment Management Inc. now owns 188 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 78 shares during the period. Louisiana State Employees Retirement System lifted its holdings in 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 purchasing an additional 100 shares during the last quarter. 1492 Capital Management LLC boosted its position in ArcBest by 1.0% during the fourth quarter. 1492 Capital Management LLC now owns 10,605 shares of the transportation company’s stock worth $1,275,000 after purchasing an additional 103 shares during the period. Finally, Parallel Advisors LLC increased its holdings in shares of ArcBest by 45.8% in the fourth quarter. Parallel Advisors LLC now owns 363 shares of the transportation company’s stock valued at $44,000 after purchasing an additional 114 shares during the last quarter. 99.27% of the stock is currently owned by institutional investors and hedge funds.

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.