ArcBest Co. (NASDAQ:ARCB) Given Average Rating of “Buy” by Analysts

ArcBest Co. (NASDAQ:ARCB – Get Rating) has been given an average rating of “Buy” by the eleven analysts that are currently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $107.13.

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group raised their price objective on shares of ArcBest from $108.00 to $111.00 and gave the company a “neutral” rating in a research report on Wednesday, February 2nd. Stifel Nicolaus raised their price objective on shares of ArcBest from $133.00 to $135.00 in a research report on Friday, February 4th. Zacks Investment Research lowered shares of ArcBest from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 5th. StockNews.com assumed coverage on shares of ArcBest in a research report on Thursday, March 31st. They issued a “buy” rating for the company. Finally, Bank of America lowered shares of ArcBest from a “buy” rating to a “neutral” rating and set a $76.00 price objective for the company. in a research report on Friday, April 8th.

In other ArcBest news, Director Steven Spinner sold 5,000 shares of ArcBest stock in a transaction that occurred on Wednesday, February 9th. The shares were sold at an average price of $91.00, for a total transaction of $455,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael P. Hogan purchased 1,771 shares of the firm’s stock in a transaction on Monday, February 7th. The shares were acquired at an average cost of $84.77 per share, for a total transaction of $150,127.67. The disclosure for this purchase can be found here. Company insiders own 1.68% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Schroder Investment Management Group increased its stake in shares of ArcBest by 3.5% in the fourth quarter. Schroder Investment Management Group now owns 3,881 shares of the transportation company’s stock worth $465,000 after buying an additional 132 shares during the period. Horrell Capital Management Inc. increased its stake in shares of ArcBest by 0.5% in the fourth quarter. Horrell Capital Management Inc. now owns 29,640 shares of the transportation company’s stock worth $3,552,000 after buying an additional 143 shares during the period. DAVENPORT & Co LLC increased its stake in shares of ArcBest by 1.0% in the fourth quarter. DAVENPORT & Co LLC now owns 14,936 shares of the transportation company’s stock worth $1,790,000 after buying an additional 151 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of ArcBest by 0.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 20,840 shares of the transportation company’s stock worth $2,498,000 after buying an additional 154 shares during the period. Finally, Rockefeller Capital Management L.P. increased its stake in shares of ArcBest by 1.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 9,384 shares of the transportation company’s stock worth $1,124,000 after buying an additional 164 shares during the period. 92.18% of the stock is currently owned by institutional investors.

ARCB opened at $75.29 on Tuesday. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 9.42, a PEG ratio of 0.54 and a beta of 1.60. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average price of $82.48 and a 200-day moving average price of $93.69. ArcBest has a twelve month low of $52.86 and a twelve month high of $125.00.

ArcBest (NASDAQ:ARCB – Get Rating) last posted its earnings results on Tuesday, February 1st. The transportation company reported $2.79 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.52. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.13 billion. ArcBest had a net margin of 5.36% and a return on equity of 24.57%. The company’s revenue was up 45.2% on a year-over-year basis. During the same quarter last year, the company earned $0.97 earnings per share. On average, sell-side analysts expect that ArcBest will post 10.66 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, February 25th. Shareholders of record on Friday, February 11th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend was Thursday, February 10th. ArcBest’s dividend payout ratio (DPR) is presently 4.01%.

About ArcBest (Get Rating)

ArcBest Corporation provides freight transportation and integrated logistics services. It operates through three segments: Asset-Based, ArcBest, and FleetNet. The Asset-Based segment transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, nonbulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products through less-than-truckload services.

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