ArcBest (ARCB) – Research Analysts’ Recent Ratings Updates

ArcBest (NASDAQ: ARCB) has recently received a number of price target changes and ratings updates:

• 9/6/2024 – ArcBest had its price target lowered by analysts at JPMorgan Chase & Co. from $134.00 to $133.00. They now have a “neutral” rating on the stock.
• 9/5/2024 – ArcBest had its price target lowered by analysts at TD Cowen from $136.00 to $131.00. They now have a “buy” rating on the stock.
• 9/4/2024 – ArcBest had its price target lowered by analysts at Bank of America Co. from $102.00 to $99.00. They now have an “underperform” rating on the stock.
• 9/4/2024 – ArcBest had its “overweight” rating reaffirmed by analysts at Stephens. They now have a $130.00 price target on the stock.
• 9/4/2024 – ArcBest was downgraded by analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating. They now have a $112.00 price target on the stock, down previously from $122.00.
• 8/6/2024 – ArcBest had its price target lowered by analysts at Stifel Nicolaus from $150.00 to $131.00. They now have a “buy” rating on the stock.
• 8/5/2024 – ArcBest had its price target raised by analysts at JPMorgan Chase & Co. from $127.00 to $134.00. They now have a “neutral” rating on the stock.
• 8/5/2024 – ArcBest was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 8/5/2024 – ArcBest had its price target lowered by analysts at TD Cowen from $148.00 to $136.00. They now have a “buy” rating on the stock.
• 7/22/2024 – ArcBest had its price target raised by analysts at Bank of America Co. from $110.00 to $112.00. They now have an “underperform” rating on the stock.

ArcBest Stock Down 5.2 %

ArcBest stock traded down $5.98 during midday trading on Friday, hitting $109.85. 626,384 shares of the company were exchanged, compared to its average volume of 293,940. The company’s fifty day moving average price is $109.95 and its 200-day moving average price is $118.02. The company has a market cap of $2.57 billion, a PE ratio of 22.10, a price-to-earnings-growth ratio of 1.22 and a beta of 1.46. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.19 and a quick ratio of 1.19. ArcBest Co. has a fifty-two week low of $86.93 and a fifty-two week high of $153.60.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings results on Friday, August 2nd. The transportation company reported $1.98 EPS for the quarter, missing the consensus estimate of $2.03 by ($0.05). The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.06 billion. ArcBest had a return on equity of 15.98% and a net margin of 2.96%. The business’s revenue was down 2.4% on a year-over-year basis. During the same period last year, the firm posted $1.54 earnings per share. On average, research analysts predict that ArcBest Co. will post 7.21 EPS for the current fiscal year.

ArcBest Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend was Tuesday, August 13th. ArcBest’s payout ratio is 9.66%.

Insider Buying and Selling at ArcBest

In other ArcBest 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 cost of $103.93 per share, with a total value of $103,930.00. Following the transaction, the director now directly owns 3,650 shares in the company, valued at approximately $379,344.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.65% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ArcBest

A number of institutional investors have recently made changes to their positions in the company. Sanctuary Advisors LLC bought a new position in ArcBest during the 2nd quarter worth $419,000. New Wave Wealth Advisors LLC bought a new position in ArcBest during the 2nd quarter worth $1,429,000. Quarry LP grew its stake in ArcBest by 120.7% during the 2nd quarter. Quarry LP now owns 245 shares of the transportation company’s stock worth $26,000 after buying an additional 134 shares during the last quarter. Creative Planning grew its stake in ArcBest by 30.0% during the 2nd quarter. Creative Planning now owns 4,584 shares of the transportation company’s stock worth $491,000 after buying an additional 1,057 shares during the last quarter. Finally, Impala Asset Management LLC bought a new position in ArcBest during the 2nd quarter worth $2,409,000. 99.27% of the stock is currently owned by institutional investors.

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.