ArcBest (NASDAQ:ARCB) Price Target Lowered to $130.00 at Morgan Stanley

Key Points

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ArcBest (NASDAQ:ARCB - Free Report) had its target price trimmed by Morgan Stanley from $140.00 to $130.00 in a report released on Thursday,Benzinga reports. The firm currently has an overweight rating on the transportation company's stock.

ARCB has been the topic of a number of other reports. JPMorgan Chase & Co. upped their price target on ArcBest from $75.00 to $89.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. The Goldman Sachs Group upgraded ArcBest from a "neutral" rating to a "buy" rating and upped their price target for the stock from $84.00 to $101.00 in a research note on Monday, June 2nd. Bank of America raised ArcBest from an "underperform" rating to a "neutral" rating and upped their price objective for the stock from $63.00 to $74.00 in a research report on Tuesday, June 10th. UBS Group cut their price objective on ArcBest from $84.00 to $73.00 and set a "neutral" rating on the stock in a research report on Thursday. Finally, Wall Street Zen raised ArcBest from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $90.00.

ArcBest Trading Up 3.6%

ARCB traded up $2.53 during trading hours on Thursday, reaching $72.65. The company's stock had a trading volume of 53,034 shares, compared to its average volume of 382,039. ArcBest has a fifty-two week low of $55.19 and a fifty-two week high of $123.25. The stock has a market cap of $1.66 billion, a PE ratio of 10.80, a P/E/G ratio of 0.80 and a beta of 1.69. The business's 50-day moving average is $74.14 and its 200-day moving average is $74.99. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.96 and a quick ratio of 1.00.

ArcBest (NASDAQ:ARCB - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.36 EPS for the quarter, missing analysts' consensus estimates of $1.48 by ($0.12). ArcBest had a return on equity of 8.67% and a net margin of 3.90%. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the company earned $1.98 earnings per share. The firm's revenue for the quarter was down 5.1% on a year-over-year basis. As a group, equities research analysts predict that ArcBest will post 7 earnings per share for the current fiscal year.

ArcBest Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, August 8th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Friday, August 8th. ArcBest's dividend payout ratio is 7.14%.

Hedge Funds Weigh In On ArcBest

Large investors have recently bought and sold shares of the business. Farther Finance Advisors LLC increased its holdings in ArcBest by 433.3% in the second quarter. Farther Finance Advisors LLC now owns 384 shares of the transportation company's stock valued at $30,000 after buying an additional 312 shares during the last quarter. Signaturefd LLC grew its holdings in shares of ArcBest by 477.6% during the first quarter. Signaturefd LLC now owns 387 shares of the transportation company's stock worth $27,000 after purchasing an additional 320 shares during the last quarter. CWM LLC grew its holdings in shares of ArcBest by 338.8% during the first quarter. CWM LLC now owns 452 shares of the transportation company's stock worth $32,000 after purchasing an additional 349 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in shares of ArcBest during the second quarter worth about $51,000. Finally, Curat Global LLC purchased a new position in shares of ArcBest during the first quarter worth about $82,000. Hedge funds and other 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.