ArcBest (NASDAQ:ARCB) Price Target Raised to $143.00

ArcBest (NASDAQ:ARCB - Free Report) had its price objective hoisted by Bank of America from $141.00 to $143.00 in a report released on Monday morning, Benzinga reports. The brokerage currently has an underperform rating on the transportation company's stock.

ARCB has been the subject of a number of other research reports. TD Cowen boosted their target price on ArcBest from $141.00 to $178.00 and gave the stock an outperform rating in a report on Wednesday, February 7th. Stephens raised their price objective on ArcBest from $165.00 to $205.00 and gave the company an overweight rating in a research report on Wednesday, February 7th. Morgan Stanley upped their price target on ArcBest from $155.00 to $175.00 and gave the stock an overweight rating in a report on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft started coverage on shares of ArcBest in a research note on Monday, January 29th. They set a buy rating and a $148.00 price objective on the stock. Finally, JPMorgan Chase & Co. dropped their target price on shares of ArcBest from $168.00 to $164.00 and set an overweight rating for the company in a research report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $151.54.

ArcBest Stock Performance

Shares of ARCB stock traded up $0.76 during midday trading on Monday, hitting $149.95. The company had a trading volume of 353,145 shares, compared to its average volume of 301,705. The stock has a market cap of $3.52 billion, a price-to-earnings ratio of 18.88, a PEG ratio of 0.63 and a beta of 1.49. The company's 50 day simple moving average is $140.02 and its 200 day simple moving average is $122.59. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.26 and a quick ratio of 1.26. ArcBest has a 52-week low of $82.18 and a 52-week high of $153.60.

ArcBest (NASDAQ:ARCB - Get Free Report) last released its quarterly earnings results on Tuesday, February 6th. The transportation company reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.25. ArcBest had a return on equity of 15.91% and a net margin of 4.41%. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the previous year, the company posted $2.45 EPS. The business's revenue was down 6.4% on a year-over-year basis. Research analysts anticipate that ArcBest will post 10.08 earnings per share for the current fiscal year.

ArcBest Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 16th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date was Thursday, February 15th. ArcBest's dividend payout ratio (DPR) is 6.07%.

Insider Buying and Selling at ArcBest

In other ArcBest news, insider Erin K. Gattis sold 2,000 shares of the company's stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $141.58, for a total transaction of $283,160.00. Following the sale, the insider now directly owns 32,247 shares of the company's stock, valued at $4,565,530.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.18% of the company's stock.

Institutional Trading of ArcBest

Institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC raised its stake in ArcBest by 776.2% during the 1st quarter. FMR LLC now owns 358,297 shares of the transportation company's stock worth $33,114,000 after buying an additional 317,405 shares during the period. Cooper Creek Partners Management LLC bought a new stake in ArcBest during the 3rd quarter worth about $29,108,000. Segall Bryant & Hamill LLC acquired a new position in shares of ArcBest during the 2nd quarter worth about $17,232,000. Balyasny Asset Management L.P. bought a new position in shares of ArcBest in the 4th quarter valued at about $20,466,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of ArcBest by 175.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 195,270 shares of the transportation company's stock valued at $19,849,000 after acquiring an additional 124,354 shares in the last quarter. Institutional investors own 99.27% of the company's stock.

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.