ArcBest (NASDAQ:ARCB) Price Target Increased to $134.00 by Analysts at JPMorgan Chase & Co.

ArcBest (NASDAQ:ARCB) had its price objective boosted by JPMorgan Chase & Co. from $127.00 to $134.00 in a report issued on Monday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the transportation company’s stock.

Several other research firms also recently commented on ARCB. Stifel Nicolaus dropped their price target on shares of ArcBest from $159.00 to $150.00 and set a buy rating for the company in a research note on Wednesday, May 15th. Morgan Stanley lowered their target price on ArcBest from $180.00 to $176.00 and set an overweight rating for the company in a research note on Monday, July 8th. Wells Fargo & Company started coverage on ArcBest in a research report on Friday, June 7th. They issued an overweight rating and a $140.00 price target on the stock. The Goldman Sachs Group boosted their price objective on ArcBest from $133.00 to $149.00 and gave the stock a neutral rating in a research report on Thursday, April 11th. Finally, StockNews.com cut shares of ArcBest from a buy rating to a hold rating in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $143.25.

ArcBest Trading Up 2.5 %

ARCB traded up $2.65 during mid-day trading on Monday, hitting $107.52. 208,398 shares of the stock were exchanged, compared to its average volume of 304,414. The firm’s fifty day moving average is $110.64 and its two-hundred day moving average is $124.44. ArcBest has a 1-year low of $86.93 and a 1-year high of $153.60. The company has a market cap of $2.52 billion, a PE ratio of 21.10, a PEG ratio of 0.98 and a beta of 1.48. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.12.

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

ArcBest Announces Dividend

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

Hedge Funds Weigh In On ArcBest

Several large investors have recently bought and sold shares of ARCB. EverSource Wealth Advisors LLC increased its position in shares of ArcBest by 49.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 227 shares of the transportation company’s stock worth $27,000 after purchasing an additional 75 shares in the last quarter. Contravisory Investment Management Inc. grew its stake in ArcBest by 70.9% during the 1st quarter. Contravisory Investment Management Inc. now owns 188 shares of the transportation company’s stock worth $27,000 after buying an additional 78 shares during the last quarter. Innealta Capital LLC acquired a new position in ArcBest during the second quarter worth approximately $33,000. GAMMA Investing LLC purchased a new stake in ArcBest in the fourth quarter valued at approximately $39,000. Finally, Cultivar Capital Inc. acquired a new stake in shares of ArcBest in the second quarter valued at approximately $43,000. Institutional investors and hedge funds 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.