ArcBest’s (ARCB) Overweight Rating Reiterated at Stephens

Stephens reissued their overweight rating on shares of ArcBest (NASDAQ:ARCB) in a research note published on Wednesday morning, Benzinga reports. Stephens currently has a $130.00 target price on the transportation company’s stock.

Several other research firms also recently weighed in on ARCB. Wells Fargo & Company downgraded ArcBest from an overweight rating to an equal weight rating and cut their target price for the company from $122.00 to $112.00 in a research report on Wednesday. Stifel Nicolaus dropped their target price on ArcBest from $150.00 to $131.00 and set a buy rating for the company in a research report on Tuesday, August 6th. Bank of America reduced their price target on ArcBest from $102.00 to $99.00 and set an underperform rating on the stock in a report on Wednesday. StockNews.com upgraded ArcBest from a hold rating to a buy rating in a report on Monday, August 5th. Finally, Morgan Stanley cut their price target on shares of ArcBest from $180.00 to $176.00 and set an overweight rating on the stock in a report on Monday, July 8th. One equities 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, the company presently has an average rating of Moderate Buy and an average target price of $133.18.

ArcBest Price Performance

Shares of ArcBest stock opened at $99.10 on Wednesday. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.12. ArcBest has a 12 month low of $86.93 and a 12 month high of $153.60. The stock has a 50 day moving average of $110.74 and a 200 day moving average of $120.57. The firm has a market cap of $2.32 billion, a PE ratio of 19.94, a PEG ratio of 1.17 and a beta of 1.48.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings results on Friday, August 2nd. The transportation company reported $1.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.03 by ($0.05). ArcBest had a net margin of 2.96% and a return on equity of 15.98%. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the previous year, the company earned $1.54 EPS. ArcBest’s revenue for the quarter was down 2.4% compared to the same quarter last year. On average, research analysts expect that ArcBest will post 7.39 EPS for the current fiscal year.

ArcBest Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were given a dividend of $0.12 per share. The ex-dividend date was Tuesday, August 13th. This represents a $0.48 annualized dividend and a yield of 0.48%. ArcBest’s dividend payout ratio (DPR) is presently 9.66%.

Insider Transactions at ArcBest

In related news, Director Salvatore A. Abbate bought 1,000 shares of the business’s stock in a transaction on Monday, August 12th. The shares were bought at an average price of $103.93 per share, for a total transaction of $103,930.00. Following the completion of the purchase, the director now directly owns 3,650 shares of the company’s stock, valued at $379,344.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.65% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Truist Financial Corp acquired a new stake in ArcBest in the fourth quarter valued at approximately $213,000. Natixis Advisors L.P. increased its position in ArcBest by 6.9% during the 4th quarter. Natixis Advisors L.P. now owns 14,827 shares of the transportation company’s stock valued at $1,782,000 after buying an additional 953 shares in the last quarter. Versor Investments LP purchased a new stake in ArcBest in the fourth quarter valued at about $218,000. Johnson Investment Counsel Inc. acquired a new stake in ArcBest in the fourth quarter worth about $209,000. Finally, Jump Financial LLC purchased a new stake in shares of ArcBest during the fourth quarter worth about $811,000. Hedge funds and other institutional investors own 99.27% of the company’s stock.

About ArcBest

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.