ArcBest (NASDAQ:ARCB) Price Target Lowered to $110.00 at UBS Group

ArcBest (NASDAQ:ARCB - Free Report) had its target price cut by UBS Group from $111.00 to $110.00 in a report released on Monday morning, Benzinga reports. They currently have a neutral rating on the transportation company's stock.

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. lowered their price target on shares of ArcBest from $130.00 to $117.00 and set a "neutral" rating on the stock in a research report on Monday. Jefferies Financial Group decreased their price target on ArcBest from $140.00 to $130.00 and set a "buy" rating on the stock in a research note on Thursday, October 10th. TD Cowen cut shares of ArcBest from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $131.00 to $114.00 in a research report on Monday, October 14th. StockNews.com upgraded shares of ArcBest from a "hold" rating to a "buy" rating in a report on Thursday, October 3rd. Finally, Wells Fargo & Company cut their price target on ArcBest from $112.00 to $105.00 and set an "equal weight" rating on the stock in a research note on Monday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $123.17.

ArcBest Stock Up 0.5 %

Shares of ARCB stock traded up $0.52 during trading hours on Monday, hitting $100.54. 258,050 shares of the company were exchanged, compared to its average volume of 285,147. The business has a 50 day moving average of $104.52 and a two-hundred day moving average of $109.69. The company has a market capitalization of $2.38 billion, a PE ratio of 19.01, a PEG ratio of 1.36 and a beta of 1.47. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.12. ArcBest has a 52 week low of $94.76 and a 52 week high of $153.60.

ArcBest (NASDAQ:ARCB - Get Free Report) last issued its quarterly earnings results on Friday, November 1st. The transportation company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.84 by ($0.20). The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.07 billion. ArcBest had a return on equity of 15.98% and a net margin of 2.96%. The company's quarterly revenue was down 5.8% compared to the same quarter last year. During the same period last year, the firm earned $2.31 earnings per share. Analysts anticipate that ArcBest will post 6.89 earnings per share for the current fiscal year.

ArcBest Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Wednesday, November 13th. ArcBest's dividend payout ratio (DPR) is presently 9.07%.

Insiders Place Their Bets

In related news, Director Salvatore A. Abbate purchased 1,000 shares of ArcBest stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average price of $103.93 per share, for a total transaction of $103,930.00. Following the completion of the transaction, the director now owns 3,650 shares in the company, valued at $379,344.50. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.65% of the company's stock.

Hedge Funds Weigh In On ArcBest

Several hedge funds have recently made changes to their positions in the stock. Quarry LP increased its position in shares of ArcBest by 120.7% during the 2nd quarter. Quarry LP now owns 245 shares of the transportation company's stock valued at $26,000 after purchasing an additional 134 shares during the last quarter. Innealta Capital LLC purchased a new stake in ArcBest in the second quarter worth about $33,000. Quest Partners LLC bought a new position in ArcBest during the 2nd quarter valued at approximately $36,000. Cultivar Capital Inc. bought a new position in ArcBest in the 2nd quarter worth about $43,000. Finally, Mather Group LLC. bought a new position in shares of ArcBest in the second quarter worth approximately $46,000. 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.