TD Cowen Trims ArcBest (NASDAQ:ARCB) Target Price to $148.00

ArcBest (NASDAQ:ARCB) had its price objective decreased by TD Cowen from $177.00 to $148.00 in a research report report published on Wednesday, Marketbeat Ratings reports. TD Cowen currently has a buy rating on the transportation company’s stock.

Several other research analysts have also weighed in on ARCB. The Goldman Sachs Group lifted their price objective on ArcBest from $133.00 to $149.00 and gave the stock a neutral rating in a research report on Thursday, April 11th. Morgan Stanley raised their target price on ArcBest from $155.00 to $175.00 and gave the company an overweight rating in a research note on Wednesday, February 7th. UBS Group raised their target price on ArcBest from $119.00 to $150.00 and gave the company a neutral rating in a research note on Friday, February 16th. StockNews.com upgraded ArcBest from a hold rating to a buy rating in a research note on Friday, January 26th. Finally, JPMorgan Chase & Co. cut their price target on ArcBest from $168.00 to $164.00 and set an overweight rating for the company in a research note on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $143.38.

ArcBest Stock Up 1.9 %

Shares of NASDAQ:ARCB opened at $114.85 on Wednesday. The firm has a market cap of $2.70 billion, a P/E ratio of 23.11, a P/E/G ratio of 0.47 and a beta of 1.56. The company has a quick ratio of 1.26, a current ratio of 1.23 and a debt-to-equity ratio of 0.12. ArcBest has a 12-month low of $82.18 and a 12-month high of $153.60. The business has a fifty day simple moving average of $137.54 and a 200 day simple moving average of $125.62.

ArcBest (NASDAQ:ARCB) last announced its earnings results on Tuesday, April 30th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.19). ArcBest had a return on equity of 15.27% and a net margin of 2.80%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the business earned $1.58 earnings per share. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. Analysts predict that ArcBest will post 10.05 earnings per share for the current year.

ArcBest Dividend Announcement

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

Insider Transactions at ArcBest

In other news, insider Erin K. Gattis sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $141.58, for a total value of $283,160.00. Following the transaction, the insider now owns 32,247 shares in the company, valued at approximately $4,565,530.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.65% of the company’s stock.

Hedge Funds Weigh In On ArcBest

A number of hedge funds and other institutional investors have recently modified their holdings of ARCB. Cooper Creek Partners Management LLC bought a new stake in shares of ArcBest in the 3rd quarter worth approximately $29,108,000. Allspring Global Investments Holdings LLC raised its holdings in shares of ArcBest by 175.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 195,270 shares of the transportation company’s stock worth $19,849,000 after purchasing an additional 124,354 shares during the period. Wellington Management Group LLP bought a new stake in shares of ArcBest in the 3rd quarter worth approximately $10,561,000. Norges Bank bought a new stake in shares of ArcBest in the 4th quarter worth approximately $9,298,000. Finally, Moody Aldrich Partners LLC bought a new stake in shares of ArcBest in the 3rd quarter worth approximately $5,835,000. Hedge funds and other 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.