Research Analysts’ Recent Ratings Changes for ArcBest (ARCB)

Posted by Anthony Bellafiore on Nov 21st, 2024

A number of research firms have changed their ratings and price targets for ArcBest (NASDAQ: ARCB):

11/12/2024 – ArcBest had its price target raised by analysts at Citigroup Inc. from $110.00 to $127.00. They now have a “neutral” rating on the stock.
11/4/2024 – ArcBest had its price target lowered by analysts at Morgan Stanley from $175.00 to $170.00. They now have an “overweight” rating on the stock.
11/4/2024 – ArcBest had its price target lowered by analysts at UBS Group AG from $111.00 to $110.00. They now have a “neutral” rating on the stock.
11/4/2024 – ArcBest had its price target lowered by analysts at JPMorgan Chase & Co. from $130.00 to $117.00. They now have a “neutral” rating on the stock.
11/4/2024 – ArcBest had its price target lowered by analysts at Wells Fargo & Company from $112.00 to $105.00. They now have an “equal weight” rating on the stock.
10/21/2024 – ArcBest had its price target lowered by analysts at Stifel Nicolaus from $131.00 to $119.00. They now have a “buy” rating on the stock.
10/14/2024 – ArcBest was downgraded by analysts at TD Cowen from a “buy” rating to a “hold” rating. They now have a $114.00 price target on the stock, down previously from $131.00.
10/10/2024 – ArcBest had its price target lowered by analysts at Jefferies Financial Group Inc. from $140.00 to $130.00. They now have a “buy” rating on the stock.
10/9/2024 – ArcBest was downgraded by analysts at Wolfe Research from an “outperform” rating to a “peer perform” rating.
10/9/2024 – ArcBest had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $133.00 to $125.00. They now have a “neutral” rating on the stock.
10/9/2024 – ArcBest is now covered by analysts at Citigroup Inc.. They set a “neutral” rating and a $111.00 price target on the stock.
10/3/2024 – ArcBest was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
9/25/2024 – ArcBest was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.

ArcBest Trading Up 2.1 %

NASDAQ:ARCB traded up $2.22 on Thursday, reaching $108.98. The company’s stock had a trading volume of 133,029 shares, compared to its average volume of 287,628. ArcBest Co. has a 1-year low of $94.76 and a 1-year high of $153.60. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market cap of $2.55 billion, a PE ratio of 13.45, a PEG ratio of 2.02 and a beta of 1.47. The business’s 50-day moving average price is $106.84 and its two-hundred day moving average price is $108.54.

ArcBest (NASDAQ:ARCB – Get Free Report) last announced its earnings results on Friday, November 1st. The transportation company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.20). ArcBest had a net margin of 4.54% and a return on equity of 14.27%. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the business posted $2.31 EPS. The firm’s quarterly revenue was down 5.8% compared to the same quarter last year. Equities research analysts anticipate that ArcBest Co. will post 6.19 earnings per share for the current fiscal year.

ArcBest Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.48 dividend on an annualized basis and a yield of 0.44%. ArcBest’s dividend payout ratio (DPR) is currently 5.93%.

Insider Buying and Selling

In other ArcBest news, SVP Michael E. Newcity sold 10,443 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $120.60, for a total transaction of $1,259,425.80. Following the completion of the transaction, the senior vice president now owns 5,051 shares of the company’s stock, valued at approximately $609,150.60. The trade was a 67.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.65% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ArcBest

Several hedge funds have recently modified their holdings of ARCB. Quarry LP lifted its holdings 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 period. Innealta Capital LLC acquired a new stake in ArcBest during the 2nd quarter valued at approximately $33,000. Quest Partners LLC bought a new position in ArcBest during the 2nd quarter worth approximately $36,000. Cultivar Capital Inc. acquired a new position in shares of ArcBest in the 2nd quarter worth approximately $43,000. Finally, Mather Group LLC. bought a new stake in shares of ArcBest in the 2nd quarter valued at $46,000. Institutional investors and hedge funds own 99.27% of the company’s stock.

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.