BidaskClub cut shares of ArcBest (NASDAQ:ARCB) from a buy rating to a hold rating in a report released on Wednesday, January 10th.
A number of other equities research analysts have also issued reports on the stock. Stifel Nicolaus lowered shares of ArcBest from a hold rating to a sell rating and upped their target price for the stock from $27.00 to $32.00 in a report on Wednesday, December 13th. ValuEngine lowered shares of ArcBest from a buy rating to a hold rating in a report on Friday, November 10th. Bank of America upped their price objective on shares of ArcBest from $34.00 to $35.00 and gave the company a neutral rating in a report on Monday, November 6th. Buckingham Research upped their price objective on shares of ArcBest from $29.00 to $33.00 and gave the company a neutral rating in a report on Monday, November 6th. Finally, Cowen reissued a market perform rating and issued a $33.00 price objective (up previously from $29.00) on shares of ArcBest in a report on Monday, November 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $33.86.
ArcBest (NASDAQ ARCB) traded up $2.05 during trading hours on Wednesday, reaching $37.60. 710,190 shares of the company’s stock traded hands, compared to its average volume of 355,877. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.26 and a current ratio of 1.26. ArcBest has a 12 month low of $16.95 and a 12 month high of $39.70. The stock has a market cap of $919.08, a P/E ratio of 40.43 and a beta of 1.83.
ArcBest (NASDAQ:ARCB) last posted its earnings results on Wednesday, January 31st. The transportation company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.07. The firm had revenue of $710.72 million during the quarter, compared to analysts’ expectations of $723.69 million. ArcBest had a net margin of 0.88% and a return on equity of 5.34%. The business’s revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.28 EPS. research analysts anticipate that ArcBest will post 1.28 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Friday, February 9th will be given a dividend of $0.08 per share. The ex-dividend date is Thursday, February 8th. This represents a $0.32 annualized dividend and a dividend yield of 0.85%. ArcBest’s dividend payout ratio is presently 34.41%.
In other ArcBest news, Director William Legg sold 6,153 shares of the stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $37.52, for a total value of $230,860.56. Following the transaction, the director now directly owns 36,147 shares in the company, valued at $1,356,235.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven Spinner sold 4,000 shares of the stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $32.00, for a total transaction of $128,000.00. Following the completion of the transaction, the director now owns 24,700 shares in the company, valued at $790,400. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,853 shares of company stock worth $499,794. 0.97% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the business. Ameriprise Financial Inc. grew its position in shares of ArcBest by 26.0% during the second quarter. Ameriprise Financial Inc. now owns 524,005 shares of the transportation company’s stock worth $10,792,000 after acquiring an additional 108,200 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of ArcBest by 80.6% during the fourth quarter. Acadian Asset Management LLC now owns 227,651 shares of the transportation company’s stock worth $8,139,000 after acquiring an additional 101,593 shares during the last quarter. Algert Global LLC purchased a new position in shares of ArcBest during the third quarter worth approximately $2,824,000. Vanguard Group Inc. grew its position in shares of ArcBest by 3.9% during the second quarter. Vanguard Group Inc. now owns 2,216,925 shares of the transportation company’s stock worth $45,669,000 after acquiring an additional 83,738 shares during the last quarter. Finally, First Trust Advisors LP purchased a new position in shares of ArcBest during the second quarter worth approximately $1,665,000. Institutional investors own 90.04% of the company’s stock.
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ArcBest Company Profile
ArcBest Corporation is a holding company of businesses providing integrated logistics solutions. The Company operates through three segments: Asset-Based, which consists of ABF Freight System, Inc and other subsidiaries; ArcBest, which represents the consolidation of the operations of the Premium Logistics, Transportation Management and Household Goods Moving Services segments, and FleetNet, which includes the results of operations of FleetNet America, Inc (FleetNet).
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