ArcBest (NASDAQ:ARCB) Given New $136.00 Price Target at TD Cowen

ArcBest (NASDAQ:ARCB) had its price target trimmed by TD Cowen from $148.00 to $136.00 in a research note issued to investors on Monday, MarketBeat Ratings reports. The brokerage currently has a buy rating on the transportation company’s stock.

A number of other research analysts also recently commented on the company. Morgan Stanley reduced their target price on ArcBest from $180.00 to $176.00 and set an overweight rating on the stock in a report on Monday, July 8th. JPMorgan Chase & Co. lowered shares of ArcBest from an overweight rating to a neutral rating and lowered their target price for the company from $145.00 to $127.00 in a research note on Tuesday, July 9th. UBS Group dropped their target price on shares of ArcBest from $150.00 to $126.00 and set a neutral rating on the stock in a report on Wednesday, May 1st. Stifel Nicolaus lowered their price objective on shares of ArcBest from $159.00 to $150.00 and set a buy rating for the company in a research report on Wednesday, May 15th. Finally, The Goldman Sachs Group lifted their target price on ArcBest from $133.00 to $149.00 and gave the company a neutral rating in a research note on Thursday, April 11th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $143.25.

ArcBest Stock Up 2.5 %

Shares of ARCB stock traded up $2.65 during mid-day trading on Monday, reaching $107.52. 208,398 shares of the company were exchanged, compared to its average volume of 304,414. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.23 and a current ratio of 1.23. The business’s 50 day simple moving average is $110.64 and its 200 day simple moving average is $124.44. The company has a market capitalization of $2.52 billion, a P/E ratio of 21.10, a P/E/G ratio of 0.98 and a beta of 1.48. ArcBest has a fifty-two week low of $86.93 and a fifty-two week high of $153.60.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings data on Friday, August 2nd. The transportation company reported $1.98 earnings per share for the quarter, missing the consensus estimate of $2.03 by ($0.05). ArcBest had a return on equity of 15.27% and a net margin of 2.80%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the business earned $1.54 earnings per share. ArcBest’s revenue was down 2.4% on a year-over-year basis. Research analysts predict that ArcBest will post 8.26 earnings per share for the current year.

ArcBest Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.45%. ArcBest’s dividend payout ratio (DPR) is 9.66%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Emerald Mutual Fund Advisers Trust bought a new stake in ArcBest during the second quarter worth approximately $5,630,000. Versor Investments LP acquired a new position in shares of ArcBest during the 2nd quarter valued at $447,000. Innealta Capital LLC bought a new stake in shares of ArcBest in the 2nd quarter worth $33,000. Panagora Asset Management Inc. lifted its holdings in shares of ArcBest by 7.7% in the second quarter. Panagora Asset Management Inc. now owns 24,398 shares of the transportation company’s stock valued at $2,613,000 after buying an additional 1,738 shares during the period. Finally, FAS Wealth Partners Inc. boosted its stake in ArcBest by 86.3% during the second quarter. FAS Wealth Partners Inc. now owns 80,050 shares of the transportation company’s stock valued at $8,572,000 after buying an additional 37,073 shares in the last quarter. 99.27% of the stock is currently owned by institutional investors.

About ArcBest

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.