ArcBest (NASDAQ:ARCB) Price Target Cut to $83.00 by Analysts at Citigroup

ArcBest (NASDAQ:ARCB) had its price objective reduced by Citigroup from $103.00 to $83.00 in a research note released on Tuesday morning,Benzinga reports. Citigroup currently has a neutral rating on the transportation company’s stock.

A number of other research analysts have also recently weighed in on ARCB. Morgan Stanley dropped their price objective on shares of ArcBest from $160.00 to $145.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Stifel Nicolaus lifted their price objective on shares of ArcBest from $109.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. UBS Group dropped their price objective on shares of ArcBest from $110.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Stephens reiterated an “overweight” rating and set a $116.00 price target on shares of ArcBest in a report on Tuesday. Finally, Wells Fargo & Company lowered their price target on shares of ArcBest from $105.00 to $96.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $113.64.

ArcBest Price Performance

Shares of ARCB opened at $73.33 on Tuesday. ArcBest has a 1-year low of $71.57 and a 1-year high of $153.61. The stock has a market cap of $1.70 billion, a PE ratio of 10.00, a P/E/G ratio of 1.70 and a beta of 1.54. The firm has a 50-day simple moving average of $91.23 and a two-hundred day simple moving average of $100.65. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.04.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings data on Friday, January 31st. The transportation company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.22. ArcBest had a net margin of 4.16% and a return on equity of 11.79%. During the same period in the previous year, the company earned $2.47 earnings per share. As a group, analysts forecast that ArcBest will post 7 EPS for the current year.

ArcBest Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were given a dividend of $0.12 per share. The ex-dividend date was Tuesday, February 11th. This represents a $0.48 annualized dividend and a dividend yield of 0.65%. ArcBest’s dividend payout ratio is presently 6.55%.

Institutional Trading of ArcBest

Institutional investors and hedge funds have recently bought and sold shares of the business. Blue Trust Inc. raised its position in ArcBest by 146.3% in the 4th quarter. Blue Trust Inc. now owns 298 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 177 shares during the last quarter. R Squared Ltd purchased a new stake in ArcBest in the 4th quarter valued at $40,000. Quest Partners LLC raised its position in ArcBest by 60.6% in the 3rd quarter. Quest Partners LLC now owns 546 shares of the transportation company’s stock valued at $59,000 after purchasing an additional 206 shares during the last quarter. Smartleaf Asset Management LLC raised its position in ArcBest by 471.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 549 shares of the transportation company’s stock valued at $51,000 after purchasing an additional 453 shares during the last quarter. Finally, Avior Wealth Management LLC raised its position in ArcBest by 17.9% in the 3rd quarter. Avior Wealth Management LLC now owns 625 shares of the transportation company’s stock valued at $68,000 after purchasing an additional 95 shares during the last quarter. Hedge funds and other 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.