ArcBest (NASDAQ:ARCB) Stock Gets Price Target Cut from UBS Group

ArcBest (NASDAQ:ARCB) had its target price lowered by UBS Group from $154.00 to $146.00 in a report issued on Thursday morning,Benzinga reports. UBS Group currently has a neutral rating on the transportation company’s stock.

A number of other equities analysts also recently weighed in on ARCB. Stifel Nicolaus lowered their price target on ArcBest from $185.00 to $168.00 and set a “buy” rating on the stock in a research report on Thursday, October 8th. Stephens upgraded ArcBest to a “strong-buy” rating in a research note on Wednesday, July 8th. Wall Street Zen raised ArcBest from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 31st. Citigroup lifted their target price on ArcBest from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Citizens Jmp initiated coverage on ArcBest in a research note on Wednesday, July 15th. They set a “market outperform” rating and a $180.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $153.54.

ArcBest Stock Down 4.3%

ArcBest stock opened at $127.91 on Thursday. The firm has a market capitalization of $2.82 billion, a PE ratio of 100.72, a P/E/G ratio of 0.36 and a beta of 1.71. The company’s 50-day moving average is $131.19 and its 200-day moving average is $125.35. ArcBest has a fifty-two week low of $59.43 and a fifty-two week high of $176.69. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.00 and a quick ratio of 0.97.

ArcBest (NASDAQ:ARCB) last issued its earnings results on Wednesday, November 4th. The transportation company reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.50 by $0.12. ArcBest had a net margin of 0.66% and a return on equity of 9.93%. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the prior year, the firm earned $1.46 EPS. ArcBest’s quarterly revenue was up 15.5% compared to the same quarter last year. Sell-side analysts anticipate that ArcBest will post 7.42 earnings per share for the current year.

ArcBest Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Friday, November 13th will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $0.48 annualized dividend and a dividend yield of 0.4%. ArcBest’s dividend payout ratio is presently 37.80%.

Insider Activity

In other news, VP Jason Parks sold 855 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $135.09, for a total transaction of $115,501.95. Following the completion of the sale, the vice president owned 3,794 shares in the company, valued at approximately $512,531.46. This trade represents a 18.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.98% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ARCB. Parallel Advisors LLC lifted its position in ArcBest by 51.3% during the third quarter. Parallel Advisors LLC now owns 466 shares of the transportation company’s stock worth $59,000 after acquiring an additional 158 shares during the last quarter. C M Bidwell & Associates Ltd. bought a new stake in shares of ArcBest during the second quarter worth approximately $74,000. Nykredit A S bought a new stake in shares of ArcBest during the second quarter worth approximately $75,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of ArcBest in the second quarter valued at approximately $92,000. Finally, Pinnacle Holdings LLC acquired a new position in shares of ArcBest in the second quarter valued at approximately $246,000. Institutional investors and hedge funds own 99.27% of the company’s stock.

More ArcBest News

Here are the key news stories impacting ArcBest this week:

• Positive Sentiment: Citigroup raised its price target to $175 from $170 and maintained a buy rating, implying substantial upside from the cited share price. ArcBest Given New Price Target at Citigroup
• Positive Sentiment: JPMorgan lifted its target to $164 from $158, while keeping a neutral rating. JPMorgan recommendations
• Positive Sentiment: ArcBest beat third-quarter earnings and revenue expectations: EPS was $2.62 versus $2.50 expected, and revenue rose 15.5% year over year to $1.21 billion. Reports cited higher shipment weights, tonnage gains, and operational improvements following a July reorganization as contributors. Higher shipment weights help ArcBest beat Q3 expectations
• Neutral Sentiment: Management described emerging “green shoots” in demand, but shipment volumes remain soft, leaving the durability and timing of a recovery uncertain. ArcBest’s Runser says demand green shoots are emerging
• Negative Sentiment: UBS cut its price target to $146 from $154 and retained a neutral rating, a less optimistic signal than the target increases from other analysts. UBS lowers ArcBest price target
• Negative Sentiment: ArcBest’s outlook included a sequential increase of 50–150 basis points in ABF’s fourth-quarter operating ratio and projected $7–$10 million in Asset-Light operating income, which could weigh on near-term margin expectations. ArcBest signals fourth-quarter operating outlook
• Negative Sentiment: One recent analysis argued the shares look overvalued after a substantial run-up, potentially limiting investor appetite despite the earnings beat. ArcBest stock looks overvalued after its run

ArcBest Company Profile

ArcBest Corporation (NASDAQ: ARCB) is a multibillion-dollar logistics company headquartered in Fort Smith, Arkansas. The company provides freight transportation and supply chain solutions through a combination of asset-based and asset-light operations, serving businesses across North America and supporting select international shipping needs.

Its asset-based business is led by ABF Freight, a less-than-truckload carrier that transports palletized and industrial freight. ArcBest also offers expedited transportation, truckload and brokerage services, intermodal transportation, managed transportation, warehouse and distribution support, and supply chain consulting.