ArcBest (NASDAQ:ARCB) Price Target Lowered to $145.00 at Morgan Stanley

ArcBest (NASDAQ:ARCB) had its target price trimmed by Morgan Stanley from $160.00 to $145.00 in a research report released on Monday,Benzinga reports. The firm currently has an overweight rating on the transportation company’s stock.

Several other research analysts have also recently issued reports on the company. TD Cowen cut ArcBest from a “buy” rating to a “hold” rating and decreased their price target for the stock from $131.00 to $114.00 in a research note on Monday, October 14th. JPMorgan Chase & Co. decreased their price target on ArcBest from $130.00 to $117.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. UBS Group cut their price objective on ArcBest from $111.00 to $110.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Stifel Nicolaus upped their price objective on ArcBest from $109.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Finally, The Goldman Sachs Group cut their price objective on ArcBest from $133.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, ArcBest has a consensus rating of “Hold” and an average target price of $118.91.

ArcBest Price Performance

Shares of ARCB opened at $91.40 on Monday. The company has a market cap of $2.14 billion, a P/E ratio of 12.47, a PEG ratio of 1.78 and a beta of 1.51. The stock has a fifty day moving average price of $100.88 and a 200 day moving average price of $105.45. 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 has a 12 month low of $90.25 and a 12 month high of $153.60.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings data on Friday, January 31st. The transportation company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.22. ArcBest had a return on equity of 11.79% and a net margin of 4.16%. During the same quarter in the prior year, the company posted $2.47 earnings per share. On average, research analysts forecast that ArcBest will post 7.5 earnings per share for the current year.

ArcBest Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend is Tuesday, February 11th. ArcBest’s dividend payout ratio is currently 6.55%.

Insider Buying and Selling

In other ArcBest news, SVP Michael E. Newcity sold 10,443 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $120.60, for a total value of $1,259,425.80. Following the transaction, the senior vice president now directly owns 5,051 shares of the company’s stock, valued at $609,150.60. This represents a 67.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Craig E. Philip sold 3,900 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $109.91, for a total value of $428,649.00. Following the completion of the transaction, the director now directly owns 23,250 shares in the company, valued at approximately $2,555,407.50. The trade was a 14.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.18% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. CIBC Asset Management Inc acquired a new position in ArcBest in the 4th quarter worth about $216,000. Sanctuary Advisors LLC increased its holdings in shares of ArcBest by 7.4% during the 4th quarter. Sanctuary Advisors LLC now owns 4,429 shares of the transportation company’s stock valued at $419,000 after acquiring an additional 306 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of ArcBest by 1.9% during the 4th quarter. Principal Financial Group Inc. now owns 114,189 shares of the transportation company’s stock valued at $10,656,000 after acquiring an additional 2,169 shares during the last quarter. State of New Jersey Common Pension Fund D increased its holdings in shares of ArcBest by 6.7% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 19,489 shares of the transportation company’s stock valued at $1,819,000 after acquiring an additional 1,219 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of ArcBest by 5.1% during the 4th quarter. Rhumbline Advisers now owns 67,079 shares of the transportation company’s stock valued at $6,260,000 after acquiring an additional 3,278 shares during the last quarter. 99.27% of the stock is owned by institutional investors and hedge funds.

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.