ArcBest (NASDAQ:ARCB) Upgraded at StockNews.com

StockNews.com upgraded shares of ArcBest (NASDAQ:ARCB) from a sell rating to a hold rating in a report issued on Friday.

A number of other equities analysts have also commented on the company. Truist Financial dropped their price target on ArcBest from $93.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Morgan Stanley dropped their price target on ArcBest from $160.00 to $145.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Stifel Nicolaus dropped their price target on ArcBest from $102.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, April 30th. Citigroup lowered their price objective on ArcBest from $83.00 to $66.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Finally, Jefferies Financial Group lowered their price objective on ArcBest from $120.00 to $95.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $88.75.

ArcBest Price Performance

Shares of ArcBest stock opened at $61.74 on Friday. The stock has a 50 day moving average of $66.40 and a 200 day moving average of $88.32. ArcBest has a 12 month low of $55.19 and a 12 month high of $129.83. The firm has a market cap of $1.43 billion, a PE ratio of 8.42, a PEG ratio of 1.70 and a beta of 1.70. The company has a current ratio of 1.01, a quick ratio of 1.04 and a debt-to-equity ratio of 0.10.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings results on Tuesday, April 29th. The transportation company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). ArcBest had a net margin of 4.16% and a return on equity of 11.79%. The firm had revenue of $967.08 million for the quarter, compared to the consensus estimate of $990.03 million. During the same period in the previous year, the company posted $1.34 earnings per share. ArcBest’s quarterly revenue was down 6.7% on a year-over-year basis. On average, research analysts expect that ArcBest will post 7 EPS for the current fiscal year.

ArcBest Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 9th will be issued a $0.12 dividend. The ex-dividend date is Friday, May 9th. This represents a $0.48 annualized dividend and a dividend yield of 0.78%. ArcBest’s payout ratio is 6.35%.

Insider Transactions at ArcBest

In other ArcBest news, CFO John Matthew Beasley purchased 700 shares of ArcBest stock in a transaction dated Thursday, March 13th. The shares were purchased at an average cost of $74.89 per share, for a total transaction of $52,423.00. Following the completion of the acquisition, the chief financial officer now owns 8,142 shares in the company, valued at $609,754.38. This represents a 9.41% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 1.28% of the company’s stock.

Institutional Investors Weigh In On ArcBest

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in ArcBest by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 2,771,123 shares of the transportation company’s stock worth $258,601,000 after purchasing an additional 20,665 shares during the period. Alliancebernstein L.P. increased its holdings in ArcBest by 9.4% during the 4th quarter. Alliancebernstein L.P. now owns 2,571,917 shares of the transportation company’s stock worth $240,011,000 after purchasing an additional 220,325 shares during the period. Westwood Holdings Group Inc. increased its holdings in ArcBest by 36.7% during the 1st quarter. Westwood Holdings Group Inc. now owns 869,267 shares of the transportation company’s stock worth $61,353,000 after purchasing an additional 233,409 shares during the period. American Century Companies Inc. increased its holdings in ArcBest by 16.3% during the 4th quarter. American Century Companies Inc. now owns 618,919 shares of the transportation company’s stock worth $57,758,000 after purchasing an additional 86,867 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in ArcBest by 2.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 436,921 shares of the transportation company’s stock worth $30,838,000 after purchasing an additional 10,766 shares during the period. 99.27% of the stock is currently owned by hedge funds and other institutional investors.

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.