Stephens Reiterates Overweight Rating for ArcBest (NASDAQ:ARCB)

Stephens reaffirmed their overweight rating on shares of ArcBest (NASDAQ:ARCBFree Report) in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has a $116.00 price objective on the transportation company’s stock.

Other equities research analysts have also recently issued research reports about the company. Stifel Nicolaus increased their price target on ArcBest from $109.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Morgan Stanley decreased their price target on ArcBest from $160.00 to $145.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Citigroup increased their price target on ArcBest from $110.00 to $127.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. UBS Group decreased their target price on ArcBest from $110.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. Finally, Wells Fargo & Company decreased their target price on ArcBest from $105.00 to $96.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, ArcBest has an average rating of “Hold” and an average price target of $109.75.

Read Our Latest Stock Analysis on ArcBest

ArcBest Price Performance

Shares of ARCB opened at $73.03 on Tuesday. ArcBest has a 12-month low of $70.96 and a 12-month high of $153.61. The business has a 50-day simple moving average of $90.45 and a two-hundred day simple moving average of $100.27. The company has a quick ratio of 1.04, a current ratio of 1.01 and a debt-to-equity ratio of 0.10. The stock has a market cap of $1.69 billion, a PE ratio of 9.96, a PEG ratio of 1.70 and a beta of 1.54.

ArcBest (NASDAQ:ARCBGet Free Report) last issued its quarterly earnings results on Friday, January 31st. The transportation company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.22. ArcBest had a return on equity of 11.79% and a net margin of 4.16%. During the same period in the previous year, the business earned $2.47 earnings per share. Analysts anticipate that ArcBest will post 7 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.48 dividend on an annualized basis and a yield of 0.66%. ArcBest’s dividend payout ratio (DPR) is currently 6.55%.

Insider Activity

In other news, CFO John Matthew Beasley purchased 700 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was purchased at an average price of $74.89 per share, with a total value of $52,423.00. Following the completion of the purchase, the chief financial officer now directly owns 8,142 shares in the company, valued at approximately $609,754.38. This trade represents a 9.41 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.65% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. QRG Capital Management Inc. lifted its position in ArcBest by 6.5% in the 3rd quarter. QRG Capital Management Inc. now owns 3,156 shares of the transportation company’s stock valued at $342,000 after acquiring an additional 193 shares in the last quarter. Meritage Portfolio Management increased its stake in ArcBest by 9.3% in the 3rd quarter. Meritage Portfolio Management now owns 3,680 shares of the transportation company’s stock worth $399,000 after buying an additional 312 shares in the last quarter. GSA Capital Partners LLP increased its stake in ArcBest by 22.6% in the 3rd quarter. GSA Capital Partners LLP now owns 15,266 shares of the transportation company’s stock worth $1,656,000 after buying an additional 2,810 shares in the last quarter. KBC Group NV grew its position in shares of ArcBest by 36.8% during the third quarter. KBC Group NV now owns 851 shares of the transportation company’s stock valued at $92,000 after purchasing an additional 229 shares in the last quarter. Finally, OneDigital Investment Advisors LLC grew its position in shares of ArcBest by 3.5% during the third quarter. OneDigital Investment Advisors LLC now owns 2,509 shares of the transportation company’s stock valued at $272,000 after purchasing an additional 86 shares in the last quarter. Hedge funds and other institutional investors own 99.27% of the company’s stock.

ArcBest Company Profile

(Get Free Report)

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.

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Analyst Recommendations for ArcBest (NASDAQ:ARCB)

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