ArcBest (NASDAQ:ARCB) Price Target Cut to $126.00 by Analysts at UBS Group

ArcBest (NASDAQ:ARCB) had its price target trimmed by UBS Group from $150.00 to $126.00 in a research note published on Wednesday, Benzinga reports. The firm currently has a neutral rating on the transportation company’s stock.

A number of other equities research analysts have also recently commented on the stock. TD Cowen reduced their target price on shares of ArcBest from $177.00 to $148.00 and set a buy rating for the company in a research report on Wednesday. StockNews.com upgraded shares of ArcBest from a hold rating to a buy rating in a research report on Friday, January 26th. Deutsche Bank Aktiengesellschaft started coverage on shares of ArcBest in a research report on Monday, January 29th. They issued a buy rating and a $148.00 target price for the company. Morgan Stanley increased their target price on shares of ArcBest from $155.00 to $175.00 and gave the company an overweight rating in a research report on Wednesday, February 7th. Finally, Stephens raised their price objective on shares of ArcBest from $165.00 to $205.00 and gave the stock an overweight rating in a research report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $143.38.

ArcBest Stock Performance

NASDAQ:ARCB opened at $108.36 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.26 and a current ratio of 1.26. The company has a fifty day moving average of $138.58 and a two-hundred day moving average of $125.60. The stock has a market capitalization of $2.55 billion, a PE ratio of 13.70, a P/E/G ratio of 0.56 and a beta of 1.49. ArcBest has a fifty-two week low of $82.18 and a fifty-two week high of $153.60.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings data on Tuesday, April 30th. The transportation company reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.19). The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. ArcBest had a return on equity of 15.91% and a net margin of 4.41%. The business’s revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.58 earnings per share. As a group, research analysts forecast that ArcBest will post 10.05 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.44%. The ex-dividend date is Thursday, May 9th. ArcBest’s dividend payout ratio (DPR) is presently 6.07%.

Insiders Place Their Bets

In other ArcBest news, insider Erin K. Gattis sold 2,000 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $141.58, for a total transaction of $283,160.00. Following the completion of the transaction, the insider now owns 32,247 shares of the company’s stock, valued at $4,565,530.26. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.18% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ARCB. EverSource Wealth Advisors LLC boosted its stake in shares of 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 purchasing an additional 75 shares during the period. Contravisory Investment Management Inc. boosted its stake in shares of ArcBest by 70.9% in the first quarter. Contravisory Investment Management Inc. now owns 188 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 78 shares during the period. Allworth Financial LP boosted its stake in shares of ArcBest by 15,450.0% in the third quarter. Allworth Financial LP now owns 311 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 309 shares during the period. GAMMA Investing LLC purchased a new position in shares of ArcBest in the fourth quarter valued at approximately $39,000. Finally, Parallel Advisors LLC boosted its stake 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 period. Hedge funds and other institutional investors 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.