ArcBest (NASDAQ:ARCB) Given New $146.00 Price Target at UBS Group

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

Several other equities research analysts have also weighed in on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of ArcBest in a report on Tuesday, August 25th. JPMorgan Chase & Co. boosted their price target on shares of ArcBest from $158.00 to $164.00 and gave the company a “neutral” rating in a report on Thursday. Truist Financial lowered their price objective on shares of ArcBest from $165.00 to $160.00 and set a “buy” rating for the company in a research report on Wednesday, October 7th. Zacks Research downgraded ArcBest from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 5th. Finally, TD Cowen dropped their price objective on ArcBest from $155.00 to $146.00 and set a “hold” rating on the stock in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, ArcBest currently has a consensus rating of “Moderate Buy” and a consensus price target of $153.54.

ArcBest Stock Performance

Shares of NASDAQ:ARCB opened at $133.59 on Thursday. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of 105.19, a P/E/G ratio of 0.42 and a beta of 1.71. The firm’s 50 day simple moving average is $131.41 and its 200 day simple moving average is $125.14. 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 has a fifty-two week low of $59.43 and a fifty-two week high of $176.69.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings data on Wednesday, November 4th. The transportation company reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.12. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.20 billion. ArcBest had a net margin of 0.66% and a return on equity of 9.93%. ArcBest’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.46 EPS. As a group, sell-side analysts forecast that ArcBest will post 7.12 earnings per share for the current year.

ArcBest Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Friday, November 13th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.4%. The ex-dividend date is Friday, November 13th. ArcBest’s dividend payout ratio (DPR) is 69.57%.

Insider Buying and Selling

In other ArcBest news, VP Jason Parks sold 855 shares of ArcBest stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $135.09, for a total value of $115,501.95. Following the transaction, the vice president owned 3,794 shares of the company’s stock, valued at approximately $512,531.46. The trade was a 18.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.98% of the company’s stock.

Institutional Investors Weigh In On ArcBest

Several large investors have recently made changes to their positions in ARCB. BlackRock Inc. bought a new position in shares of ArcBest during the 2nd quarter worth approximately $503,476,000. Dimensional Fund Advisors LP lifted its position in shares of ArcBest by 3.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,397,287 shares of the transportation company’s stock worth $137,429,000 after purchasing an additional 47,848 shares in the last quarter. Maple Rock Capital Partners Inc. lifted its position in shares of ArcBest by 32.5% in the second quarter. Maple Rock Capital Partners Inc. now owns 535,746 shares of the transportation company’s stock worth $76,901,000 after purchasing an additional 131,400 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in ArcBest during the second quarter worth $27,281,000. Finally, Empowered Funds LLC boosted its holdings in ArcBest by 37.7% during the first quarter. Empowered Funds LLC now owns 158,742 shares of the transportation company’s stock worth $15,614,000 after purchasing an additional 43,429 shares during the last quarter. Institutional investors own 99.27% of the company’s stock.

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.