ArcBest (NASDAQ:ARCB) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of ArcBest (NASDAQ:ARCB) from a buy rating to a hold rating in a research report released on Thursday morning.

Several other equities research analysts also recently weighed in on the stock. Bank of America cut their target price on shares of ArcBest from $143.00 to $110.00 and set an underperform rating on the stock in a research note on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft assumed coverage on ArcBest in a report on Monday, January 29th. They issued a buy rating and a $148.00 target price for the company. Stephens upped their price target on ArcBest from $165.00 to $205.00 and gave the stock an overweight rating in a report on Wednesday, February 7th. TD Cowen decreased their price objective on ArcBest from $177.00 to $148.00 and set a buy rating for the company in a research note on Wednesday, May 1st. Finally, Stifel Nicolaus upped their target price on shares of ArcBest from $153.00 to $159.00 and gave the stock a buy rating in a research note on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, ArcBest has an average rating of Moderate Buy and a consensus price target of $143.38.

ArcBest Stock Up 1.9 %

Shares of NASDAQ ARCB opened at $114.85 on Thursday. The company has a quick ratio of 1.26, a current ratio of 1.23 and a debt-to-equity ratio of 0.12. The business’s 50 day moving average is $137.54 and its two-hundred day moving average is $125.99. ArcBest has a 52-week low of $82.18 and a 52-week high of $153.60. The firm has a market cap of $2.70 billion, a price-to-earnings ratio of 23.11, a PEG ratio of 0.53 and a beta of 1.56.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings data on Tuesday, April 30th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.19). The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. ArcBest had a net margin of 2.80% and a return on equity of 15.27%. ArcBest’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.58 EPS. Research analysts predict that ArcBest will post 9 EPS for the current year.

ArcBest Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.42%. The ex-dividend date is Thursday, May 9th. ArcBest’s payout ratio is 9.66%.

Insider Buying and Selling

In other ArcBest news, insider Erin K. Gattis sold 2,000 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $141.58, for a total value of $283,160.00. Following the completion of the transaction, the insider now owns 32,247 shares in the company, valued at $4,565,530.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.65% of the stock is owned by company insiders.

Hedge Funds Weigh In On ArcBest

A number of institutional investors have recently modified their holdings of the business. Evergreen Capital Management LLC purchased a new position in ArcBest during the 3rd quarter worth $203,000. Schonfeld Strategic Advisors LLC raised its stake in ArcBest by 385.8% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 26,717 shares of the transportation company’s stock valued at $2,716,000 after acquiring an additional 21,217 shares during the last quarter. Wakefield Asset Management LLLP purchased a new stake in ArcBest during the 4th quarter valued at approximately $806,000. American Century Companies Inc. lifted its position in ArcBest by 10.5% during the 3rd quarter. American Century Companies Inc. now owns 378,206 shares of the transportation company’s stock worth $38,445,000 after acquiring an additional 35,968 shares during the period. Finally, Public Employees Retirement System of Ohio grew its stake in shares of ArcBest by 31.3% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 55,199 shares of the transportation company’s stock valued at $5,611,000 after purchasing an additional 13,165 shares during the last quarter. 99.27% of the stock is owned by institutional investors and hedge funds.

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.