ArcBest Corporation (ARCB) – What Are Investment Firms Saying About This Stock?
by Doug Wharley · The Cerbat GemShares of ArcBest Corporation (NASDAQ:ARCB – Get Free Report) have received a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $153.15.
A number of research firms have recently issued reports on ARCB. Zacks Research lowered shares of ArcBest from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 5th. The Goldman Sachs Group reiterated a “buy” rating and issued a $172.00 target price on shares of ArcBest in a research report on Wednesday, July 29th. Citigroup reissued a “cautious” rating on shares of ArcBest in a research note on Wednesday, October 7th. Stephens upgraded shares of ArcBest to a “strong-buy” rating in a research report on Wednesday, July 8th. Finally, TD Cowen lowered their price target on shares of ArcBest from $175.00 to $155.00 and set a “hold” rating on the stock in a research report on Thursday, July 30th.
Read Our Latest Analysis on ArcBest
ArcBest Stock Performance
Shares of NASDAQ:ARCB opened at $130.36 on Wednesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.97 and a quick ratio of 0.97. The business’s 50 day moving average price is $134.49 and its 200-day moving average price is $133.91. The firm has a market capitalization of $2.91 billion, a PE ratio of 28.69, a P/E/G ratio of 0.39 and a beta of 1.70. ArcBest has a 1 year low of $59.43 and a 1 year high of $176.69.
ArcBest (NASDAQ:ARCB – Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The transportation company reported $2.38 EPS for the quarter, beating the consensus estimate of $2.26 by $0.12. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.17 billion. ArcBest had a return on equity of 7.92% and a net margin of 0.39%. The firm’s revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.36 EPS. As a group, equities research analysts expect that ArcBest will post 7.06 earnings per share for the current fiscal year.
ArcBest Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 7th were issued a $0.12 dividend. The ex-dividend date was Friday, August 7th. This represents a $0.48 dividend on an annualized basis and a yield of 0.4%. ArcBest’s dividend payout ratio is presently 69.57%.
Insiders Place Their Bets
In related news, VP Jason T. Parks sold 855 shares of the stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $135.09, for a total value of $115,501.95. Following the completion of the sale, the vice president owned 3,794 shares of the company’s stock, valued at approximately $512,531.46. This trade represents a 18.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Judy R. Mcreynolds sold 2,857 shares of ArcBest stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $138.98, for a total value of $397,065.86. Following the transaction, the director owned 50,048 shares in the company, valued at approximately $6,955,671.04. The trade was a 5.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 12,818 shares of company stock valued at $1,793,568 in the last ninety days. 0.98% of the stock is currently owned by corporate insiders.
Institutional Trading of ArcBest
Several large investors have recently added to or reduced their stakes in ARCB. BlackRock Inc. purchased a new position in ArcBest during the second quarter worth about $503,476,000. Dimensional Fund Advisors LP grew its stake in shares of ArcBest by 3.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,397,287 shares of the transportation company’s stock valued at $137,429,000 after buying an additional 47,848 shares during the period. Maple Rock Capital Partners Inc. increased its holdings in shares of ArcBest by 32.5% during the 2nd quarter. Maple Rock Capital Partners Inc. now owns 535,746 shares of the transportation company’s stock worth $76,901,000 after buying an additional 131,400 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of ArcBest during the 2nd quarter worth approximately $27,281,000. Finally, Empowered Funds LLC acquired a new stake in shares of ArcBest during the 2nd quarter worth approximately $20,787,000. 99.27% of the stock is currently owned by hedge funds and other institutional investors.
About ArcBest
ArcBest Corporation (NASDAQ: ARCB) is a logistics company that provides freight transportation and supply chain services to businesses in North America and international markets. Headquartered in Fort Smith, Arkansas, the company serves manufacturers, distributors, retailers and other commercial customers through a combination of asset-based transportation and asset-light logistics solutions.
ArcBest’s asset-based operations are conducted primarily through ABF Freight, a less-than-truckload carrier that transports palletized freight and offers regional, interregional and long-distance services.
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