ArcBest (NASDAQ:ARCB) Price Target Raised to $127.00

ArcBest (NASDAQ:ARCB) had its price target lifted by Citigroup from $110.00 to $127.00 in a research note published on Tuesday,Benzinga reports. The firm currently has a neutral rating on the transportation company’s stock.

ARCB has been the topic of a number of other reports. Wells Fargo & Company lowered their price target on shares of ArcBest from $112.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Monday, November 4th. JPMorgan Chase & Co. reduced their price target on shares of ArcBest from $130.00 to $117.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. StockNews.com upgraded ArcBest from a “hold” rating to a “buy” rating in a report on Thursday, October 3rd. Morgan Stanley reduced their price objective on ArcBest from $175.00 to $170.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Finally, UBS Group dropped their price target on ArcBest from $111.00 to $110.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $124.50.

ArcBest Trading Down 1.2 %

Shares of ArcBest stock opened at $111.50 on Tuesday. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of 13.78, a price-to-earnings-growth ratio of 2.94 and a beta of 1.47. ArcBest has a 52-week low of $94.76 and a 52-week high of $153.60. The company’s 50-day simple moving average is $105.90 and its 200-day simple moving average is $108.78. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.09.

ArcBest (NASDAQ:ARCB) last released its earnings results 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 business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the firm posted $2.31 EPS. The business’s revenue for the quarter was down 5.8% on a year-over-year basis. As a group, equities research analysts anticipate that ArcBest will post 6.19 earnings per share for the current year.

ArcBest Dividend Announcement

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

Insider Activity at ArcBest

In other ArcBest news, SVP Michael E. Newcity sold 10,443 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $120.60, for a total value of $1,259,425.80. Following the sale, the senior vice president now directly owns 5,051 shares of the company’s stock, valued at approximately $609,150.60. This trade represents a 67.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.65% of the company’s stock.

Institutional Inflows and Outflows

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

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.