ArcBest (NASDAQ:ARCB) Upgraded to “Buy” by StockNews.com

by · The Markets Daily

StockNews.com upgraded shares of ArcBest (NASDAQ:ARCB – Free Report) from a hold rating to a buy rating in a research note issued to investors on Thursday.

ARCB has been the subject of several other reports. JPMorgan Chase & Co. decreased their price target on shares of ArcBest from $134.00 to $133.00 and set a neutral rating for the company in a report on Friday, September 6th. Stephens reiterated an overweight rating and issued a $130.00 target price on shares of ArcBest in a research note on Wednesday, September 4th. Stifel Nicolaus lowered their price target on ArcBest from $150.00 to $131.00 and set a buy rating on the stock in a research report on Tuesday, August 6th. Wells Fargo & Company downgraded ArcBest from an overweight rating to an equal weight rating and decreased their target price for the company from $122.00 to $112.00 in a research note on Wednesday, September 4th. Finally, Bank of America reduced their price objective on ArcBest from $102.00 to $99.00 and set an underperform rating for the company in a research report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, ArcBest currently has an average rating of Hold and an average price target of $133.50.

Read Our Latest Stock Report on ARCB

ArcBest Price Performance

Shares of NASDAQ ARCB opened at $100.83 on Thursday. ArcBest has a twelve month low of $86.93 and a twelve month high of $153.60. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.12. The firm has a 50-day moving average of $107.26 and a two-hundred day moving average of $115.66. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of 20.29, a PEG ratio of 1.37 and a beta of 1.46.

ArcBest (NASDAQ:ARCB – Get Free Report) last issued its quarterly 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). ArcBest had a net margin of 2.96% and a return on equity of 15.98%. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter last year, the company posted $1.54 EPS. The firm’s revenue was down 2.4% compared to the same quarter last year. As a group, analysts expect that ArcBest will post 7.21 earnings per share for the current fiscal year.

ArcBest Announces Dividend

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

Insider Buying and Selling at ArcBest

In other ArcBest news, Director Salvatore A. Abbate acquired 1,000 shares of ArcBest stock in a transaction dated Monday, August 12th. The stock was bought at an average cost of $103.93 per share, with a total value of $103,930.00. Following the acquisition, the director now owns 3,650 shares of the company’s stock, valued at approximately $379,344.50. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.65% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Quarry LP boosted its holdings in ArcBest by 120.7% during the second quarter. Quarry LP now owns 245 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 134 shares in the last quarter. Contravisory Investment Management Inc. lifted its position in shares of ArcBest by 70.9% during the 1st quarter. Contravisory Investment Management Inc. now owns 188 shares of the transportation company’s stock worth $27,000 after buying an additional 78 shares during the period. Innealta Capital LLC acquired a new stake in ArcBest in the 2nd quarter valued at $33,000. Quest Partners LLC bought a new stake in ArcBest in the second quarter valued at $36,000. Finally, Cultivar Capital Inc. acquired a new position in ArcBest during the second quarter worth $43,000. Institutional investors and hedge funds own 99.27% of the company’s stock.

ArcBest Company Profile

(Get Free Report)

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.

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