ArcBest (NASDAQ:ARCB) PT Lowered to $110.00 at Bank of America

ArcBest (NASDAQ:ARCB) had its target price trimmed by Bank of America from $143.00 to $110.00 in a report released on Wednesday morning, Benzinga reports. They currently have an underperform rating on the transportation company’s stock.

Several other equities analysts also recently commented on ARCB. StockNews.com upgraded shares of ArcBest from a hold rating to a buy rating in a research note on Friday, January 26th. Deutsche Bank Aktiengesellschaft started coverage on shares of ArcBest in a research note on Monday, January 29th. They issued a buy rating and a $148.00 price target on the stock. TD Cowen decreased their price target on shares of ArcBest from $177.00 to $148.00 and set a buy rating on the stock in a research note on Wednesday. Morgan Stanley upped their price target on shares of ArcBest from $155.00 to $175.00 and gave the company an overweight rating in a research note on Wednesday, February 7th. Finally, The Goldman Sachs Group upped their price target on shares of ArcBest from $133.00 to $149.00 and gave the company a neutral rating in a research note on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, ArcBest currently has a consensus rating of Moderate Buy and a consensus target price of $143.38.

ArcBest Price Performance

NASDAQ:ARCB opened at $114.85 on Wednesday. ArcBest has a one year low of $82.18 and a one year high of $153.60. The company has a market cap of $2.70 billion, a P/E ratio of 23.11, a P/E/G ratio of 0.52 and a beta of 1.56. The firm’s fifty day moving average price is $137.54 and its two-hundred day moving average price is $125.79. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.23 and a quick ratio of 1.26.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings data on Tuesday, April 30th. The transportation company reported $1.34 EPS for the quarter, missing the consensus estimate of $1.53 by ($0.19). ArcBest had a net margin of 2.80% and a return on equity of 15.27%. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the firm earned $1.58 earnings per share. ArcBest’s revenue for the quarter was down 6.3% on a year-over-year basis. Equities analysts expect that ArcBest will post 9.43 earnings per share for the current year.

ArcBest Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.42%. ArcBest’s dividend payout ratio (DPR) is currently 9.66%.

Insider Transactions at ArcBest

In other 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 value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.65% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ARCB. EverSource Wealth Advisors LLC lifted its holdings 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 worth $27,000 after acquiring an additional 75 shares during the last quarter. Contravisory Investment Management Inc. lifted its holdings 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 worth $27,000 after acquiring an additional 78 shares during the last quarter. Allworth Financial LP lifted its holdings 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 worth $32,000 after acquiring an additional 309 shares during the last quarter. GAMMA Investing LLC bought a new position in ArcBest in the 4th quarter valued at approximately $39,000. Finally, Parallel Advisors LLC raised its holdings in ArcBest by 45.8% in the 4th quarter. Parallel Advisors LLC now owns 363 shares of the transportation company’s stock valued at $44,000 after buying an additional 114 shares during the last quarter. Institutional investors own 99.27% of the company’s stock.

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.