Stifel Nicolaus Raises ArcBest (NASDAQ:ARCB) Price Target to $93.00

ArcBest (NASDAQ:ARCB - Free Report) had its price objective upped by Stifel Nicolaus from $83.00 to $93.00 in a research report released on Thursday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the transportation company's stock.

Other analysts have also issued research reports about the stock. JPMorgan Chase & Co. boosted their price objective on shares of ArcBest from $75.00 to $89.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Bank of America upgraded shares of ArcBest from an "underperform" rating to a "neutral" rating and raised their target price for the company from $63.00 to $74.00 in a research note on Tuesday, June 10th. Jefferies Financial Group reiterated a "buy" rating and issued a $85.00 target price (up from $75.00) on shares of ArcBest in a research note on Tuesday, June 10th. Citigroup raised their target price on shares of ArcBest from $67.00 to $89.00 and gave the company a "neutral" rating in a research note on Wednesday, July 9th. Finally, Wells Fargo & Company raised their target price on shares of ArcBest from $60.00 to $90.00 and gave the company an "equal weight" rating in a research note on Monday, July 7th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, ArcBest presently has a consensus rating of "Hold" and an average price target of $94.00.

ArcBest Stock Up 2.4%

ARCB traded up $2.06 during trading on Thursday, reaching $86.21. The company had a trading volume of 350,405 shares, compared to its average volume of 402,780. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.00 and a quick ratio of 1.00. ArcBest has a 12 month low of $55.19 and a 12 month high of $129.83. The business's fifty day moving average price is $72.86 and its 200 day moving average price is $75.90. The company has a market cap of $1.98 billion, a P/E ratio of 11.40, a PEG ratio of 0.92 and a beta of 1.71.

ArcBest (NASDAQ:ARCB - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The transportation company reported $0.51 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). ArcBest had a net margin of 4.37% and a return on equity of 10.05%. The company had revenue of $967.08 million during the quarter, compared to the consensus estimate of $990.03 million. During the same period in the previous year, the firm posted $1.34 EPS. The business's quarterly revenue was down 6.7% compared to the same quarter last year. Equities analysts anticipate that ArcBest will post 7 EPS for the current year.

ArcBest Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, August 8th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.56%. ArcBest's dividend payout ratio is 6.35%.

Hedge Funds Weigh In On ArcBest

Hedge funds have recently bought and sold shares of the business. Signaturefd LLC increased its position in ArcBest by 477.6% during the first quarter. Signaturefd LLC now owns 387 shares of the transportation company's stock worth $27,000 after acquiring an additional 320 shares during the period. Farther Finance Advisors LLC grew its stake in ArcBest by 433.3% during the second quarter. Farther Finance Advisors LLC now owns 384 shares of the transportation company's stock worth $30,000 after buying an additional 312 shares in the last quarter. CWM LLC grew its stake in ArcBest by 338.8% during the first quarter. CWM LLC now owns 452 shares of the transportation company's stock worth $32,000 after buying an additional 349 shares in the last quarter. Curat Global LLC acquired a new stake in ArcBest during the first quarter worth about $82,000. Finally, GAMMA Investing LLC grew its stake in ArcBest by 185.3% during the first quarter. GAMMA Investing LLC now owns 1,435 shares of the transportation company's stock worth $101,000 after buying an additional 932 shares in the last quarter. 99.27% of the stock is owned by institutional investors.

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.