ArcBest Corporation (NASDAQ:ARCB) Receives Average Rating of “Moderate Buy” from Analysts

ArcBest Corporation (NASDAQ:ARCB) has earned an average rating of “Moderate Buy” from the fifteen research firms that are currently covering the firm, Marketbeat reports. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $154.2308.

Several equities analysts recently weighed in on the company. Stephens raised ArcBest to a “strong-buy” rating in a research note on Wednesday, July 8th. TD Cowen reduced their price objective on shares of ArcBest from $175.00 to $155.00 and set a “hold” rating on the stock in a research note on Thursday, July 30th. Citigroup decreased their price target on ArcBest from $178.00 to $171.00 and set a “buy” rating on the stock in a research note on Tuesday, August 4th. The Goldman Sachs Group restated a “buy” rating and set a $172.00 price objective on shares of ArcBest in a report on Wednesday, July 29th. Finally, Zacks Research lowered shares of ArcBest from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 5th.

Insiders Place Their Bets

In other news, insider Erin K. Gattis sold 6,163 shares of the company’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $140.00, for a total value of $862,820.00. Following the completion of the transaction, the insider directly owned 24,286 shares in the company, valued at approximately $3,400,040. This represents a 20.24% decrease in their ownership of the stock. The sale 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 the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $138.98, for a total transaction of $397,065.86. Following the completion of the transaction, the director directly owned 50,048 shares of the company’s stock, valued at approximately $6,955,671.04. The trade was a 5.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 11,963 shares of company stock worth $1,678,066. Corporate insiders own 0.98% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its holdings in shares of ArcBest by 349.9% during the fourth quarter. Principal Financial Group Inc. now owns 493,780 shares of the transportation company’s stock valued at $36,634,000 after purchasing an additional 384,024 shares during the last quarter. Quantinno Capital Management LP increased its stake in ArcBest by 101.9% in the 1st quarter. Quantinno Capital Management LP now owns 20,827 shares of the transportation company’s stock worth $2,049,000 after purchasing an additional 10,511 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in ArcBest by 19,008.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 122,292 shares of the transportation company’s stock worth $9,073,000 after purchasing an additional 121,652 shares in the last quarter. Walleye Capital LLC acquired a new stake in ArcBest during the 1st quarter worth about $2,579,000. Finally, Encompass Capital Advisors LLC acquired a new stake in ArcBest during the 4th quarter worth about $20,402,000. Institutional investors and hedge funds own 99.27% of the company’s stock.

ArcBest Stock Up 3.3%

ARCB opened at $140.34 on Tuesday. ArcBest has a 12 month low of $59.43 and a 12 month high of $176.69. 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 has a 50 day simple moving average of $146.20 and a 200-day simple moving average of $124.94. The stock has a market capitalization of $3.14 billion, a P/E ratio of 203.39, a P/E/G ratio of 0.46 and a beta of 1.57.

ArcBest (NASDAQ:ARCB) last issued its earnings results on Wednesday, July 29th. The transportation company reported $2.38 EPS for the quarter, topping the consensus estimate of $2.26 by $0.12. ArcBest had a net margin of 0.39% and a return on equity of 7.92%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the firm earned $1.36 EPS. The business’s revenue was up 15.9% on a year-over-year basis. On average, equities analysts anticipate that ArcBest will post 6.9 earnings per share for the current fiscal year.

ArcBest Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 7th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, August 7th. This represents a $0.48 annualized dividend and a yield of 0.3%. ArcBest’s payout ratio is 69.57%.

ArcBest Company Profile

ArcBest Corporation (NASDAQ: ARCB) is a transportation and logistics company that offers comprehensive freight and supply chain solutions across North America. Founded in 1923 as Arkansas Best Freight System, the company has evolved into a diversified service provider with both asset-based and asset-light operations. Its core businesses include less-than-truckload (LTL) shipping through ABF Freight, expedited full-truckload services via Panther Premium Logistics, and a range of logistics and supply chain management services under its ArcBest Integrated Logistics division.

The company’s asset-based operations also encompass FleetNet America, a provider of emergency roadside assistance and maintenance services for heavy-duty vehicles.