ArcBest Co. (NASDAQ:ARCB) Receives Average Recommendation of “Moderate Buy” from Brokerages

ArcBest Co. (NASDAQ:ARCBGet Rating) has been assigned an average rating of “Moderate Buy” from the ten analysts that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $116.33.

ARCB has been the subject of several recent analyst reports. Stifel Nicolaus decreased their target price on ArcBest from $143.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday, August 2nd. StockNews.com lowered ArcBest from a “strong-buy” rating to a “buy” rating in a research report on Sunday, September 11th. Credit Suisse Group reduced their price target on shares of ArcBest from $112.00 to $105.00 and set an “outperform” rating for the company in a research report on Friday, September 9th. Stephens lifted their price target on shares of ArcBest from $105.00 to $120.00 and gave the company an “overweight” rating in a research report on Monday, August 1st. Finally, Cowen reduced their price target on shares of ArcBest to $127.00 in a research report on Tuesday, August 9th.

Insiders Place Their Bets

In other news, CEO Judy R. Mcreynolds sold 25,000 shares of ArcBest stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $88.77, for a total transaction of $2,219,250.00. Following the sale, the chief executive officer now directly owns 55,060 shares in the company, valued at approximately $4,887,676.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.68% of the company’s stock.

Institutional Investors Weigh In On ArcBest

Hedge funds have recently made changes to their positions in the business. Financial Management Professionals Inc. bought a new stake in ArcBest in the 1st quarter valued at about $26,000. Assetmark Inc. raised its stake in ArcBest by 103.3% in the 2nd quarter. Assetmark Inc. now owns 374 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 190 shares during the period. Parallel Advisors LLC raised its stake in ArcBest by 40.1% in the 1st quarter. Parallel Advisors LLC now owns 632 shares of the transportation company’s stock valued at $54,000 after acquiring an additional 181 shares during the period. Ancora Advisors LLC bought a new stake in ArcBest in the 1st quarter valued at about $56,000. Finally, Point72 Hong Kong Ltd bought a new stake in ArcBest in the 2nd quarter valued at about $58,000. 88.54% of the stock is currently owned by institutional investors.

ArcBest Trading Down 2.3 %

NASDAQ ARCB opened at $71.19 on Friday. The business has a 50 day simple moving average of $82.52 and a 200 day simple moving average of $78.42. ArcBest has a one year low of $65.15 and a one year high of $125.00. The stock has a market capitalization of $1.75 billion, a P/E ratio of 6.17, a P/E/G ratio of 0.22 and a beta of 1.61. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.25 and a quick ratio of 1.25.

ArcBest (NASDAQ:ARCBGet Rating) last released its earnings results on Friday, July 29th. The transportation company reported $4.30 EPS for the quarter, topping the consensus estimate of $3.91 by $0.39. ArcBest had a return on equity of 33.83% and a net margin of 6.11%. The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter last year, the firm posted $1.97 earnings per share. The firm’s revenue was up 46.8% on a year-over-year basis. Research analysts expect that ArcBest will post 14.28 earnings per share for the current year.

ArcBest Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 24th. Shareholders of record on Wednesday, August 10th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend was Tuesday, August 9th. ArcBest’s dividend payout ratio is 4.16%.

About ArcBest

(Get Rating)

ArcBest Corporation provides freight transportation and integrated logistics services. It operates through three segments: Asset-Based, ArcBest, and FleetNet. The Asset-Based segment transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, nonbulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products through less-than-truckload services.

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Analyst Recommendations for ArcBest (NASDAQ:ARCB)

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