ArcBest (NASDAQ:ARCB) PT Lowered to $136.00 at TD Cowen

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

ARCB has been the subject of several other reports. UBS Group dropped their target price on ArcBest from $150.00 to $126.00 and set a neutral rating for the company in a research report on Wednesday, May 1st. The Goldman Sachs Group lifted their price target on ArcBest from $133.00 to $149.00 and gave the stock a neutral rating in a report on Thursday, April 11th. Bank of America boosted their target price on ArcBest from $110.00 to $112.00 and gave the company an underperform rating in a research note on Monday, July 22nd. Morgan Stanley lowered their price target on ArcBest from $180.00 to $176.00 and set an overweight rating for the company in a research report on Monday, July 8th. Finally, JPMorgan Chase & Co. cut ArcBest from an overweight rating to a neutral rating and decreased their target price for the stock from $145.00 to $127.00 in a report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $143.25.

ArcBest Price Performance

Shares of ARCB stock opened at $103.45 on Monday. The stock’s fifty day moving average is $110.73 and its 200-day moving average is $124.14. The stock has a market capitalization of $2.42 billion, a PE ratio of 20.81, a PEG ratio of 0.98 and a beta of 1.48. ArcBest has a 52 week low of $86.93 and a 52 week high of $153.60. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.23 and a current ratio of 1.23.

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

ArcBest Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders 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 annualized dividend and a dividend yield of 0.46%. ArcBest’s dividend payout ratio (DPR) is currently 9.66%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC increased its position in 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 during the last quarter. Contravisory Investment Management Inc. increased its position in ArcBest by 70.9% in 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 period. Innealta Capital LLC acquired a new position in ArcBest in the second quarter worth about $33,000. Quest Partners LLC acquired a new stake in shares of ArcBest during the 2nd quarter worth approximately $36,000. Finally, GAMMA Investing LLC acquired a new position in ArcBest during the fourth quarter valued at approximately $39,000. 99.27% of the stock is currently owned by institutional investors and hedge funds.

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.