ArcBest (NASDAQ:ARCB) Given New $67.00 Price Target at TD Cowen

ArcBest (NASDAQ:ARCB) had its price objective decreased by TD Cowen from $72.00 to $67.00 in a report published on Wednesday morning, Marketbeat.com reports. TD Cowen currently has a hold rating on the transportation company’s stock.

Several other research analysts have also weighed in on the stock. Morgan Stanley lowered their target price on shares of ArcBest from $140.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, July 31st. Stifel Nicolaus decreased their price objective on shares of ArcBest from $93.00 to $81.00 and set a “buy” rating on the stock in a report on Thursday, July 31st. Jefferies Financial Group reiterated a “buy” rating and issued a $85.00 target price (up previously from $75.00) on shares of ArcBest in a report on Tuesday, June 10th. Wells Fargo & Company cut their target price on ArcBest from $90.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 31st. Finally, UBS Group raised their price target on ArcBest from $73.00 to $80.00 and gave the stock a “neutral” rating in a research report on Tuesday. Six equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $89.33.

ArcBest Trading Down 1.4%

Shares of ArcBest stock opened at $68.88 on Wednesday. The stock has a 50 day moving average of $73.07 and a 200 day moving average of $70.33. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of 10.25, a PEG ratio of 1.24 and a beta of 1.66. ArcBest has a fifty-two week low of $55.19 and a fifty-two week high of $123.25.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.36 EPS for the quarter, missing the consensus estimate of $1.48 by ($0.12). The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.03 billion. ArcBest had a net margin of 3.90% and a return on equity of 8.67%. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period last year, the company earned $1.98 EPS. As a group, research analysts predict that ArcBest will post 7 earnings per share for the current year.

ArcBest Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were issued a $0.12 dividend. The ex-dividend date was Friday, August 8th. This represents a $0.48 dividend on an annualized basis and a yield of 0.7%. ArcBest’s dividend payout ratio (DPR) is 7.14%.

Institutional Investors Weigh In On ArcBest

A number of hedge funds have recently bought and sold shares of the stock. Ameriprise Financial Inc. boosted its stake in shares of ArcBest by 158.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 490,064 shares of the transportation company’s stock valued at $37,740,000 after buying an additional 300,642 shares during the period. Nuveen LLC acquired a new stake in ArcBest in the first quarter valued at approximately $18,460,000. Westwood Holdings Group Inc. lifted its stake in ArcBest by 36.7% in the first quarter. Westwood Holdings Group Inc. now owns 869,267 shares of the transportation company’s stock worth $61,353,000 after acquiring an additional 233,409 shares during the last quarter. Ancora Advisors LLC grew its holdings in ArcBest by 1,812.9% during the 1st quarter. Ancora Advisors LLC now owns 204,587 shares of the transportation company’s stock worth $14,440,000 after acquiring an additional 193,892 shares in the last quarter. Finally, Encompass Capital Advisors LLC purchased a new stake in shares of ArcBest in the 2nd quarter valued at approximately $12,657,000. Institutional investors and hedge funds 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.