ArcBest (NASDAQ:ARCB) Price Target Cut to $117.00 by Analysts at JPMorgan Chase & Co.

ArcBest (NASDAQ:ARCB) had its target price lowered by JPMorgan Chase & Co. from $130.00 to $117.00 in a research note released on Monday morning, Benzinga reports. The firm currently has a neutral rating on the transportation company’s stock.

A number of other equities research analysts have also recently commented on the company. StockNews.com raised ArcBest from a “hold” rating to a “buy” rating in a research note on Thursday, October 3rd. Stifel Nicolaus reduced their price target on shares of ArcBest from $131.00 to $119.00 and set a “buy” rating for the company in a research report on Monday, October 21st. TD Cowen lowered shares of ArcBest from a “buy” rating to a “hold” rating and decreased their price target for the company from $131.00 to $114.00 in a research note on Monday, October 14th. The Goldman Sachs Group dropped their price objective on shares of ArcBest from $133.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Finally, Bank of America decreased their target price on shares of ArcBest from $102.00 to $99.00 and set an “underperform” rating for the company in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, ArcBest has an average rating of “Hold” and an average target price of $123.17.

ArcBest Stock Performance

NASDAQ:ARCB opened at $100.54 on Monday. The firm has a market capitalization of $2.38 billion, a P/E ratio of 19.01, a P/E/G ratio of 1.36 and a beta of 1.47. ArcBest has a twelve month low of $94.76 and a twelve month high of $153.60. The company has a fifty day moving average of $104.52 and a 200-day moving average of $109.69. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.12.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings data on Friday, November 1st. The transportation company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.84 by ($0.20). The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.07 billion. ArcBest had a net margin of 2.96% and a return on equity of 15.98%. ArcBest’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.31 EPS. As a group, sell-side analysts anticipate that ArcBest will post 6.89 EPS for the current year.

ArcBest Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.48%. ArcBest’s payout ratio is presently 9.07%.

Insider Activity

In other ArcBest news, Director Salvatore A. Abbate acquired 1,000 shares of the business’s stock in a transaction on Monday, August 12th. The shares were acquired at an average price of $103.93 per share, with a total value of $103,930.00. Following the completion of the transaction, the director now owns 3,650 shares in the company, valued at approximately $379,344.50. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 1.65% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quarry LP increased its stake in shares of ArcBest by 120.7% during the 2nd quarter. Quarry LP now owns 245 shares of the transportation company’s stock worth $26,000 after purchasing an additional 134 shares during the last quarter. Innealta Capital LLC purchased a new stake in ArcBest in the second quarter worth $33,000. Quest Partners LLC bought a new stake in shares of ArcBest in the second quarter valued at $36,000. Cultivar Capital Inc. purchased a new position in shares of ArcBest during the 2nd quarter valued at $43,000. Finally, Mather Group LLC. bought a new position in shares of ArcBest during the 2nd quarter worth $46,000. 99.27% of the stock is currently owned by hedge funds and other institutional investors.

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.