ArcBest Corporation (NASDAQ:ARCB) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Shares of ArcBest Corporation (NASDAQ:ARCB – Get Free Report) have been given a consensus recommendation of “Moderate Buy” by the fifteen ratings firms that are currently covering the stock, Marketbeat.com reports. Seven research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $153.15.

Several brokerages have recently issued reports on ARCB. Morgan Stanley upped their price objective on ArcBest from $150.00 to $180.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. Truist Financial decreased their price objective on ArcBest from $165.00 to $160.00 and set a “buy” rating on the stock in a research note on Wednesday. Stephens upgraded ArcBest to a “strong-buy” rating in a research report on Wednesday, July 8th. Zacks Research cut ArcBest from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 5th. Finally, UBS Group boosted their target price on shares of ArcBest from $145.00 to $154.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd.

Get Our Latest Report on ArcBest

Insiders Place Their Bets

In other news, insider Erin K. Gattis sold 6,163 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $140.00, for a total value of $862,820.00. Following the completion of the transaction, the insider owned 24,286 shares of the company’s stock, valued at $3,400,040. The trade was a 20.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Jason T. Parks sold 855 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $135.09, for a total transaction of $115,501.95. Following the transaction, the vice president directly owned 3,794 shares in the company, valued at $512,531.46. The trade was a 18.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 12,818 shares of company stock valued at $1,793,568 in the last ninety days. Insiders own 0.98% of the company’s stock.

Institutional Trading of ArcBest

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in ArcBest in the 2nd quarter valued at about $503,476,000. Dimensional Fund Advisors LP increased its stake in shares of ArcBest by 3.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,397,287 shares of the transportation company’s stock valued at $137,429,000 after acquiring an additional 47,848 shares during the last quarter. Maple Rock Capital Partners Inc. lifted its holdings in shares of ArcBest by 32.5% during the 2nd quarter. Maple Rock Capital Partners Inc. now owns 535,746 shares of the transportation company’s stock worth $76,901,000 after acquiring an additional 131,400 shares during the period. Encompass Capital Advisors LLC purchased a new position in shares of ArcBest during the 4th quarter worth about $20,402,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of ArcBest during the 2nd quarter worth about $27,281,000. Institutional investors and hedge funds own 99.27% of the company’s stock.

ArcBest Price Performance

ARCB stock opened at $129.36 on Wednesday. ArcBest has a 1 year low of $59.43 and a 1 year high of $176.69. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 0.97. The stock’s 50 day moving average price is $134.92 and its 200 day moving average price is $133.42. The firm has a market cap of $2.89 billion, a P/E ratio of 187.48, a PEG ratio of 0.39 and a beta of 1.70.

ArcBest (NASDAQ:ARCB – Get Free Report) last announced its earnings results on Wednesday, July 29th. The transportation company reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.12. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.17 billion. ArcBest had a return on equity of 7.92% and a net margin of 0.39%. ArcBest’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.36 EPS. On average, sell-side analysts expect that ArcBest will post 7.06 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 7th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Friday, August 7th. ArcBest’s dividend payout ratio (DPR) is currently 69.57%.

About ArcBest

(Get Free Report)

ArcBest Corporation (NASDAQ: ARCB) is a logistics company that provides freight transportation and supply chain services to businesses in North America and international markets. Headquartered in Fort Smith, Arkansas, the company serves manufacturers, distributors, retailers and other commercial customers through a combination of asset-based transportation and asset-light logistics solutions.

ArcBest’s asset-based operations are conducted primarily through ABF Freight, a less-than-truckload carrier that transports palletized freight and offers regional, interregional and long-distance services.

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Analyst Recommendations for ArcBest (NASDAQ:ARCB)

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