ArcBest (NASDAQ:ARCB) Given New $133.00 Price Target at JPMorgan Chase & Co.

ArcBest (NASDAQ:ARCB) had its price objective reduced by JPMorgan Chase & Co. from $134.00 to $133.00 in a research note issued to investors on Friday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the transportation company’s stock.

ARCB has been the subject of a number of other research reports. Morgan Stanley cut their target price on shares of ArcBest from $180.00 to $176.00 and set an overweight rating for the company in a research report on Monday, July 8th. Wells Fargo & Company lowered ArcBest from an overweight rating to an equal weight rating and cut their price objective for the stock from $122.00 to $112.00 in a report on Wednesday, September 4th. Stifel Nicolaus lowered their target price on ArcBest from $150.00 to $131.00 and set a buy rating on the stock in a research note on Tuesday, August 6th. StockNews.com raised ArcBest from a hold rating to a buy rating in a research report on Monday, August 5th. Finally, TD Cowen reduced their price target on ArcBest from $136.00 to $131.00 and set a buy rating for the company in a report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, ArcBest has a consensus rating of Moderate Buy and an average target price of $133.18.

ArcBest Stock Up 0.1 %

Shares of NASDAQ:ARCB opened at $99.19 on Friday. ArcBest has a 52 week low of $86.93 and a 52 week high of $153.60. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.19 and a current ratio of 1.19. The company has a market cap of $2.35 billion, a PE ratio of 19.96, a price-to-earnings-growth ratio of 1.21 and a beta of 1.47. The firm has a 50 day simple moving average of $110.43 and a 200 day simple moving average of $119.72.

ArcBest (NASDAQ:ARCB) last issued its earnings results on Friday, August 2nd. The transportation company reported $1.98 EPS for the quarter, missing the consensus estimate of $2.03 by ($0.05). The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.06 billion. ArcBest had a return on equity of 15.98% and a net margin of 2.96%. The business’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period last year, the business earned $1.54 EPS. As a group, research analysts expect that ArcBest will post 7.25 earnings per share for the current year.

ArcBest Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Tuesday, August 13th. ArcBest’s payout ratio is 9.66%.

Insider Buying and Selling

In other news, Director Salvatore A. Abbate bought 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average price of $103.93 per share, for a total transaction of $103,930.00. Following the acquisition, the director now directly owns 3,650 shares of the company’s stock, valued at approximately $379,344.50. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 1.65% of the stock is owned by insiders.

Institutional Trading of ArcBest

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARCB. EverSource Wealth Advisors LLC boosted its position in shares of ArcBest by 49.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 227 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 75 shares during the period. Contravisory Investment Management Inc. boosted its holdings in ArcBest by 70.9% in the 1st quarter. Contravisory Investment Management Inc. now owns 188 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 78 shares during the period. Louisiana State Employees Retirement System grew its position in ArcBest by 0.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 11,800 shares of the transportation company’s stock worth $1,264,000 after purchasing an additional 100 shares during the last quarter. 1492 Capital Management LLC grew its position in ArcBest by 1.0% in the 4th quarter. 1492 Capital Management LLC now owns 10,605 shares of the transportation company’s stock worth $1,275,000 after purchasing an additional 103 shares during the last quarter. Finally, Parallel Advisors LLC increased its holdings in shares of ArcBest by 45.8% during the 4th quarter. Parallel Advisors LLC now owns 363 shares of the transportation company’s stock worth $44,000 after purchasing an additional 114 shares during the period. Institutional investors and hedge funds own 99.27% of the company’s stock.

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.