ArcBest (NASDAQ:ARCB) Price Target Lowered to $108.00 at The Goldman Sachs Group

ArcBest (NASDAQ:ARCB - Free Report) had its price target decreased by The Goldman Sachs Group from $126.00 to $108.00 in a report released on Friday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the transportation company's stock.

Several other equities analysts have also issued reports on ARCB. Bank of America reduced their price target on ArcBest from $100.00 to $73.00 and set an "underperform" rating on the stock in a research report on Wednesday, March 12th. UBS Group reduced their price target on ArcBest from $110.00 to $100.00 and set a "neutral" rating on the stock in a research report on Monday, February 3rd. Morgan Stanley reduced their price target on ArcBest from $160.00 to $145.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. Wells Fargo & Company reduced their price target on ArcBest from $105.00 to $96.00 and set an "equal weight" rating on the stock in a research report on Monday, February 3rd. Finally, Truist Financial initiated coverage on ArcBest in a research report on Thursday, March 13th. They issued a "buy" rating and a $93.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, ArcBest currently has a consensus rating of "Hold" and an average target price of $108.33.

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ArcBest Price Performance

Shares of NASDAQ ARCB traded down $3.39 during trading hours on Friday, reaching $72.45. 366,598 shares of the stock traded hands, compared to its average volume of 284,590. The company has a market capitalization of $1.68 billion, a P/E ratio of 9.88, a price-to-earnings-growth ratio of 1.70 and a beta of 1.54. The company has a quick ratio of 1.04, a current ratio of 1.01 and a debt-to-equity ratio of 0.10. ArcBest has a 52-week low of $70.96 and a 52-week high of $153.61. The company's 50-day simple moving average is $89.16 and its two-hundred day simple moving average is $99.50.

ArcBest (NASDAQ:ARCB - Get Free Report) last announced its quarterly earnings data on Friday, January 31st. The transportation company reported $1.33 earnings per share for the quarter, beating analysts' consensus estimates of $1.11 by $0.22. ArcBest had a return on equity of 11.79% and a net margin of 4.16%. During the same quarter in the previous year, the business posted $2.47 EPS. Equities research analysts forecast that ArcBest will post 7 EPS for the current year.

ArcBest Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were paid a dividend of $0.12 per share. The ex-dividend date was Tuesday, February 11th. This represents a $0.48 annualized dividend and a yield of 0.66%. ArcBest's dividend payout ratio (DPR) is 6.55%.

Insiders Place Their Bets

In other ArcBest news, CFO John Matthew Beasley purchased 700 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average price of $74.89 per share, for a total transaction of $52,423.00. Following the purchase, the chief financial officer now directly owns 8,142 shares in the company, valued at approximately $609,754.38. This trade represents a 9.41 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.65% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ArcBest

Large investors have recently bought and sold shares of the company. OneDigital Investment Advisors LLC lifted its holdings in ArcBest by 3.5% in the third quarter. OneDigital Investment Advisors LLC now owns 2,509 shares of the transportation company's stock valued at $272,000 after acquiring an additional 86 shares during the last quarter. Avior Wealth Management LLC increased its holdings in ArcBest by 17.9% in the third quarter. Avior Wealth Management LLC now owns 625 shares of the transportation company's stock valued at $68,000 after buying an additional 95 shares during the last quarter. Arizona State Retirement System increased its holdings in ArcBest by 1.6% in the fourth quarter. Arizona State Retirement System now owns 6,856 shares of the transportation company's stock valued at $640,000 after buying an additional 108 shares during the last quarter. Summit Investment Advisors Inc. increased its holdings in ArcBest by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,463 shares of the transportation company's stock valued at $230,000 after buying an additional 157 shares during the last quarter. Finally, Stephens Inc. AR increased its holdings in ArcBest by 2.1% in the fourth quarter. Stephens Inc. AR now owns 8,128 shares of the transportation company's stock valued at $758,000 after buying an additional 170 shares during the last quarter. 99.27% of the stock is currently owned by hedge funds and other institutional investors.

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.