Wells Fargo & Company Cuts ArcBest (NASDAQ:ARCB) Price Target to $96.00

ArcBest (NASDAQ:ARCB) had its target price lowered by Wells Fargo & Company from $105.00 to $96.00 in a research note issued to investors on Monday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the transportation company’s stock.

A number of other research analysts have also recently weighed in on ARCB. UBS Group cut their price objective on shares of ArcBest from $111.00 to $110.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Wolfe Research downgraded ArcBest from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, October 9th. 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. Citigroup upped their target price on shares of ArcBest from $110.00 to $127.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Finally, The Goldman Sachs Group decreased their price target on shares of ArcBest from $133.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, ArcBest currently has a consensus rating of “Hold” and a consensus target price of $118.91.

ArcBest Trading Up 0.3 %

ARCB stock opened at $95.65 on Monday. 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 1-year low of $90.25 and a 1-year high of $153.60. The business has a 50 day simple moving average of $100.17 and a two-hundred day simple moving average of $105.21. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 1.78 and a beta of 1.51.

ArcBest (NASDAQ:ARCB) last posted its earnings results on Friday, January 31st. The transportation company reported $1.33 earnings per share for the quarter, beating the consensus estimate 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 quarter in the previous year, the business earned $2.47 earnings per share. Research analysts anticipate that ArcBest will post 7.5 EPS for the current fiscal year.

ArcBest Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend is Tuesday, February 11th. ArcBest’s payout ratio is presently 6.55%.

Insider Buying and Selling at ArcBest

In other ArcBest news, Director Craig E. Philip sold 3,900 shares of ArcBest stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $109.91, for a total transaction of $428,649.00. Following the sale, the director now owns 23,250 shares of the company’s stock, valued at $2,555,407.50. The trade was a 14.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.18% of the company’s stock.

Institutional Trading of ArcBest

A number of hedge funds and other institutional investors have recently modified their holdings of ARCB. State Street Corp lifted its stake in ArcBest by 1.9% during the third quarter. State Street Corp now owns 957,410 shares of the transportation company’s stock worth $103,831,000 after purchasing an additional 17,542 shares in the last quarter. Geode Capital Management LLC grew its stake in ArcBest by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 551,821 shares of the transportation company’s stock worth $59,856,000 after purchasing an additional 3,475 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in ArcBest by 5.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 414,261 shares of the transportation company’s stock worth $44,927,000 after purchasing an additional 21,905 shares during the period. JPMorgan Chase & Co. increased its stake in shares of ArcBest by 24.6% during the third quarter. JPMorgan Chase & Co. now owns 221,507 shares of the transportation company’s stock worth $24,022,000 after buying an additional 43,707 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in ArcBest by 16.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 116,672 shares of the transportation company’s stock worth $12,653,000 after acquiring an additional 16,103 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.