ArcBest (NASDAQ:ARCB) Given New $77.00 Price Target at UBS Group

ArcBest (NASDAQ:ARCB) had its price target cut by UBS Group from $80.00 to $77.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a neutral rating on the transportation company’s stock.

A number of other research firms have also recently issued reports on ARCB. JPMorgan Chase & Co. upped their price objective on shares of ArcBest from $85.00 to $87.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 8th. Stephens lowered shares of ArcBest from an “overweight” rating to an “equal weight” rating and set a $72.00 target price on the stock. in a report on Thursday. Zacks Research raised ArcBest to a “strong sell” rating in a research note on Monday, August 11th. Morgan Stanley reduced their price objective on shares of ArcBest from $140.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, July 31st. Finally, Stifel Nicolaus boosted their target price on shares of ArcBest from $81.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, October 28th. Six analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, ArcBest has a consensus rating of “Hold” and an average price target of $85.67.

ArcBest Price Performance

Shares of NASDAQ ARCB traded up $1.96 during trading hours on Thursday, hitting $66.99. 299,139 shares of the stock were exchanged, compared to its average volume of 357,021. The company’s fifty day simple moving average is $71.95 and its two-hundred day simple moving average is $71.34. The company has a market cap of $1.52 billion, a PE ratio of 9.97, a price-to-earnings-growth ratio of 1.35 and a beta of 1.67. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.96 and a current ratio of 0.96. ArcBest has a 1-year low of $55.19 and a 1-year high of $122.10.

ArcBest (NASDAQ:ARCB) last released its earnings results on Wednesday, November 5th. The transportation company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.09. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.04 billion. ArcBest had a return on equity of 8.67% and a net margin of 3.90%.The company’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.64 earnings per share. On average, sell-side analysts predict that ArcBest will post 7 EPS for the current year.

ArcBest Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $0.48 annualized dividend and a dividend yield of 0.7%. ArcBest’s payout ratio is presently 7.14%.

Institutional Trading of ArcBest

Several institutional investors have recently made changes to their positions in ARCB. Ameriprise Financial Inc. raised its holdings in shares of ArcBest by 158.7% in the second quarter. Ameriprise Financial Inc. now owns 490,064 shares of the transportation company’s stock valued at $37,740,000 after purchasing an additional 300,642 shares during the last quarter. Nuveen LLC bought a new position in shares of ArcBest in the first quarter valued at approximately $18,460,000. Westwood Holdings Group Inc. grew its stake in ArcBest by 36.7% in the 1st quarter. Westwood Holdings Group Inc. now owns 869,267 shares of the transportation company’s stock valued at $61,353,000 after purchasing an additional 233,409 shares during the period. Ancora Advisors LLC grew its stake in ArcBest by 1,812.9% in the 1st quarter. Ancora Advisors LLC now owns 204,587 shares of the transportation company’s stock valued at $14,440,000 after purchasing an additional 193,892 shares during the period. Finally, Encompass Capital Advisors LLC purchased a new stake in shares of ArcBest during the 2nd quarter valued at $12,657,000. Institutional investors 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.