ArcBest (NASDAQ:ARCB) Given New $145.00 Price Target at JPMorgan Chase & Co.

ArcBest (NASDAQ:ARCB) had its price target cut by JPMorgan Chase & Co. from $164.00 to $145.00 in a research report released on Wednesday morning, Benzinga reports. They currently have an overweight rating on the transportation company’s stock.

Several other brokerages have also recently issued reports on ARCB. UBS Group boosted their price target on ArcBest from $119.00 to $150.00 and gave the company a neutral rating in a research note on Friday, February 16th. The Goldman Sachs Group upped their target price on ArcBest from $133.00 to $149.00 and gave the stock a neutral rating in a research note on Thursday, April 11th. Deutsche Bank Aktiengesellschaft started coverage on ArcBest in a research note on Monday, January 29th. They set a buy rating and a $148.00 target price for the company. Stephens upped their target price on ArcBest from $165.00 to $205.00 and gave the stock an overweight rating in a research note on Wednesday, February 7th. Finally, Stifel Nicolaus upped their target price on ArcBest from $153.00 to $159.00 and gave the stock a buy rating in a research note on Wednesday, February 7th. One 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 MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $143.38.

ArcBest Trading Down 2.3 %

Shares of NASDAQ:ARCB opened at $108.36 on Wednesday. ArcBest has a 12-month low of $82.18 and a 12-month high of $153.60. The stock has a market cap of $2.55 billion, a PE ratio of 13.70, a P/E/G ratio of 0.56 and a beta of 1.49. The business has a 50 day moving average of $138.58 and a 200-day moving average of $125.60. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.13.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings data on Tuesday, April 30th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.19). ArcBest had a return on equity of 15.91% and a net margin of 4.41%. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the firm earned $1.58 EPS. The company’s revenue was down 6.3% on a year-over-year basis. As a group, equities research analysts forecast that ArcBest will post 10.05 earnings per share for the current year.

ArcBest Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.48 dividend on an annualized basis and a yield of 0.44%. ArcBest’s payout ratio is 6.07%.

Insider Activity at ArcBest

In related news, insider Erin K. Gattis sold 2,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $141.58, for a total value of $283,160.00. Following the completion of the sale, the insider now directly owns 32,247 shares in the company, valued at $4,565,530.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.18% of the stock is currently owned by company insiders.

Institutional Trading of ArcBest

A number of large investors have recently bought and sold shares of ARCB. SG Americas Securities LLC acquired a new stake in ArcBest during the 3rd quarter worth about $141,000. Bank of New York Mellon Corp grew its holdings in ArcBest by 0.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 281,693 shares of the transportation company’s stock worth $28,634,000 after acquiring an additional 1,934 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in ArcBest by 14.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,941 shares of the transportation company’s stock worth $502,000 after acquiring an additional 631 shares during the period. Mackenzie Financial Corp grew its holdings in ArcBest by 4.2% during the 3rd quarter. Mackenzie Financial Corp now owns 6,114 shares of the transportation company’s stock worth $601,000 after acquiring an additional 244 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of ArcBest by 1.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,752 shares of the transportation company’s stock worth $1,093,000 after purchasing an additional 161 shares in the last quarter. 99.27% of the stock is currently 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.