ArcBest Co. (NASDAQ:ARCB) Given Average Recommendation of “Hold” by Analysts

Shares of ArcBest Co. (NASDAQ:ARCB) have received an average rating of “Hold” from the eleven brokerages that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $133.18.

ARCB has been the topic of several analyst reports. StockNews.com upgraded ArcBest from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. Stephens reiterated an “overweight” rating and set a $130.00 price target on shares of ArcBest in a research report on Wednesday, September 4th. Stifel Nicolaus decreased 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. Bank of America decreased their price target on ArcBest from $102.00 to $99.00 and set an “underperform” rating on the stock in a research report on Wednesday, September 4th. Finally, TD Cowen decreased their price target on ArcBest from $136.00 to $131.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th.

ArcBest Price Performance

NASDAQ ARCB opened at $106.35 on Tuesday. The company has a market cap of $2.49 billion, a PE ratio of 21.40, a price-to-earnings-growth ratio of 1.22 and a beta of 1.46. ArcBest has a 52 week low of $86.93 and a 52 week high of $153.60. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.12. The firm’s 50-day simple moving average is $109.74 and its two-hundred day simple moving average is $118.33.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings data 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 business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same period last year, the company earned $1.54 earnings per share. ArcBest’s revenue for the quarter was down 2.4% compared to the same quarter last year. Research analysts predict that ArcBest will post 7.21 earnings per share for the current year.

ArcBest Dividend Announcement

The firm also recently declared 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. This represents a $0.48 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date was Tuesday, August 13th. ArcBest’s payout ratio is currently 9.66%.

Insider Buying and Selling at ArcBest

In other ArcBest news, Director Salvatore A. Abbate purchased 1,000 shares of ArcBest stock in a transaction on Monday, August 12th. The shares were acquired at an average cost of $103.93 per share, for a total transaction of $103,930.00. Following the completion of the transaction, the director now directly owns 3,650 shares of the company’s stock, valued at $379,344.50. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.65% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ARCB. Quarry LP grew its position 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 acquiring an additional 134 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of ArcBest by 49.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 227 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 75 shares during the period. Contravisory Investment Management Inc. boosted its stake in shares of ArcBest by 70.9% during the first quarter. Contravisory Investment Management Inc. now owns 188 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 78 shares during the period. Innealta Capital LLC purchased a new stake in shares of ArcBest during the second quarter valued at approximately $33,000. Finally, Quest Partners LLC purchased a new stake in shares of ArcBest during the second quarter valued at approximately $36,000. 99.27% of the stock is currently owned by institutional investors.

ArcBest Company Profile

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.