Stephens Reaffirms Overweight Rating for ArcBest (NASDAQ:ARCB)

Stephens reissued their overweight rating on shares of ArcBest (NASDAQ:ARCB) in a research report released on Wednesday, Benzinga reports. The brokerage currently has a $130.00 price target on the transportation company’s stock.

A number of other analysts have also issued reports on the company. JPMorgan Chase & Co. boosted their price target on ArcBest from $127.00 to $134.00 and gave the company a neutral rating in a report on Monday, August 5th. Stifel Nicolaus lowered their target price on ArcBest from $150.00 to $131.00 and set a buy rating for the company in a report on Tuesday, August 6th. TD Cowen cut their price target on ArcBest from $148.00 to $136.00 and set a buy rating on the stock in a research note on Monday, August 5th. Morgan Stanley decreased their price objective on ArcBest from $180.00 to $176.00 and set an overweight rating for the company in a report on Monday, July 8th. Finally, StockNews.com raised shares of ArcBest from a hold rating to a buy rating in a research report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $133.18.

ArcBest Stock Down 1.0 %

NASDAQ:ARCB opened at $99.10 on Wednesday. The company has a market cap of $2.32 billion, a price-to-earnings ratio of 19.94, a price-to-earnings-growth ratio of 1.17 and a beta of 1.46. ArcBest has a twelve month low of $86.93 and a twelve month high of $153.60. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.12. The stock has a fifty day simple moving average of $110.58 and a 200-day simple moving average of $120.13.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings data on Friday, August 2nd. The transportation company reported $1.98 earnings per share for the quarter, missing analysts’ consensus estimates of $2.03 by ($0.05). The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.06 billion. ArcBest had a net margin of 2.96% and a return on equity of 15.98%. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.54 EPS. Analysts anticipate that ArcBest will post 7.39 EPS for the current year.

ArcBest Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were given a dividend of $0.12 per share. The ex-dividend date was Tuesday, August 13th. This represents a $0.48 dividend on an annualized basis and a yield of 0.48%. ArcBest’s payout ratio is 9.66%.

Insiders Place Their Bets

In other ArcBest news, Director Salvatore A. Abbate purchased 1,000 shares of ArcBest stock in a transaction dated Monday, August 12th. The shares were acquired at an average cost of $103.93 per share, with a total value of $103,930.00. Following the completion of the transaction, the director now owns 3,650 shares in the company, valued at approximately $379,344.50. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.65% of the company’s stock.

Institutional Investors Weigh In On ArcBest

A number of large investors have recently modified their holdings of ARCB. Quarry LP lifted its stake in shares of ArcBest by 120.7% during the second 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. EverSource Wealth Advisors LLC lifted its position in ArcBest by 49.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 227 shares of the transportation company’s stock worth $27,000 after acquiring an additional 75 shares during the period. Contravisory Investment Management Inc. grew its stake in ArcBest by 70.9% during the 1st quarter. Contravisory Investment Management Inc. now owns 188 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 78 shares during the last quarter. Innealta Capital LLC purchased a new stake in ArcBest during the 2nd quarter valued at about $33,000. Finally, Quest Partners LLC acquired a new position in shares of ArcBest in the second quarter valued at about $36,000. Hedge funds and other institutional investors own 99.27% of the company’s stock.

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.