ArcBest (NASDAQ:ARCB) Given New $164.00 Price Target at JPMorgan Chase & Co.

ArcBest (NASDAQ:ARCBFree Report) had its target price decreased by JPMorgan Chase & Co. from $168.00 to $164.00 in a research note released on Tuesday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the transportation company’s stock.

A number of other equities analysts also recently commented on the stock. UBS Group lifted their target price on shares of ArcBest from $119.00 to $150.00 and gave the stock a neutral rating in a research note on Friday, February 16th. Stephens lifted their target price on shares of ArcBest from $165.00 to $205.00 and gave the stock an overweight rating in a research note on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of ArcBest in a research note on Monday, January 29th. They set a buy rating and a $148.00 target price on the stock. Stifel Nicolaus lifted their price target on shares of ArcBest from $153.00 to $159.00 and gave the company a buy rating in a research report on Wednesday, February 7th. Finally, Morgan Stanley lifted their price target on shares of ArcBest from $155.00 to $175.00 and gave the company an overweight rating in a research report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, ArcBest currently has an average rating of Moderate Buy and an average price target of $148.85.

Get Our Latest Stock Report on ARCB

ArcBest Stock Performance

NASDAQ:ARCB opened at $149.19 on Tuesday. The company’s 50-day moving average price is $140.02 and its 200-day moving average price is $122.29. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.13. The company has a market cap of $3.51 billion, a P/E ratio of 18.86, a P/E/G ratio of 0.62 and a beta of 1.49. ArcBest has a twelve month low of $82.18 and a twelve month high of $153.60.

ArcBest (NASDAQ:ARCBGet Free Report) last posted its quarterly earnings results on Tuesday, February 6th. The transportation company reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.25. ArcBest had a net margin of 4.41% and a return on equity of 15.91%. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period last year, the firm posted $2.45 earnings per share. The company’s revenue for the quarter was down 6.4% on a year-over-year basis. On average, sell-side analysts forecast that ArcBest will post 10.16 earnings per share for the current fiscal year.

ArcBest Announces Dividend

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

Insider Activity at ArcBest

In other ArcBest news, insider Erin K. Gattis sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $141.58, for a total transaction of $283,160.00. Following the completion of the transaction, the insider now owns 32,247 shares in the company, valued at approximately $4,565,530.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.65% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. lifted its position in shares of 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. EverSource Wealth Advisors LLC lifted its position in shares of ArcBest by 49.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 227 shares of the transportation company’s stock worth $27,000 after buying an additional 75 shares during the last quarter. Allworth Financial LP lifted its position in shares of ArcBest by 15,450.0% during the 3rd quarter. Allworth Financial LP now owns 311 shares of the transportation company’s stock worth $32,000 after buying an additional 309 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of ArcBest during the 4th quarter worth approximately $39,000. Finally, Parallel Advisors LLC lifted its position in shares of ArcBest by 45.8% during the 4th quarter. Parallel Advisors LLC now owns 363 shares of the transportation company’s stock worth $44,000 after buying an additional 114 shares during the last quarter. Institutional investors and hedge funds own 99.27% of the company’s stock.

ArcBest Company Profile

(Get Free Report)

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.

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Analyst Recommendations for ArcBest (NASDAQ:ARCB)

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