ArcBest (NASDAQ:ARCB) Receives Buy Rating from Cowen

Cowen reiterated their buy rating on shares of ArcBest (NASDAQ:ARCBGet Rating) in a report issued on Monday morning, Stock Target Advisor reports. They currently have a $133.00 price objective on the transportation company’s stock.

Other equities analysts also recently issued research reports about the company. The Goldman Sachs Group boosted their target price on ArcBest from $108.00 to $111.00 and gave the stock a neutral rating in a research note on Wednesday, February 2nd. Bank of America downgraded ArcBest from a buy rating to a neutral rating and set a $76.00 target price on the stock. in a research note on Friday, April 8th. StockNews.com began coverage on ArcBest in a research note on Thursday, March 31st. They issued a buy rating on the stock. Zacks Investment Research downgraded ArcBest from a strong-buy rating to a hold rating in a research note on Tuesday, April 5th. Finally, Stifel Nicolaus lifted their price target on shares of ArcBest from $133.00 to $135.00 in a report on Friday, February 4th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Buy and an average price target of $109.60.

ARCB stock opened at $75.59 on Monday. The company has a market capitalization of $1.86 billion, a P/E ratio of 7.71, a price-to-earnings-growth ratio of 0.53 and a beta of 1.60. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.10 and a current ratio of 1.10. ArcBest has a 52-week low of $52.86 and a 52-week high of $125.00. The business has a 50-day simple moving average of $81.02 and a two-hundred day simple moving average of $93.22.

ArcBest (NASDAQ:ARCBGet Rating) last released its quarterly earnings results on Friday, April 29th. The transportation company reported $3.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.95. ArcBest had a return on equity of 24.57% and a net margin of 5.36%. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the previous year, the business earned $1.01 EPS. The company’s quarterly revenue was up 61.0% on a year-over-year basis. As a group, sell-side analysts forecast that ArcBest will post 10.66 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 25th. Shareholders of record on Wednesday, May 11th will be issued a dividend of $0.12 per share. This is a boost from ArcBest’s previous quarterly dividend of $0.08. The ex-dividend date is Tuesday, May 10th. This represents a $0.48 dividend on an annualized basis and a yield of 0.64%. ArcBest’s payout ratio is presently 3.27%.

In other news, Director Michael P. Hogan purchased 1,771 shares of the firm’s stock in a transaction dated Monday, February 7th. The shares were purchased at an average price of $84.77 per share, with a total value of $150,127.67. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven Spinner sold 5,000 shares of the company’s stock in a transaction on Wednesday, February 9th. The stock was sold at an average price of $91.00, for a total transaction of $455,000.00. The disclosure for this sale can be found here. Corporate insiders own 1.68% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in ARCB. EverSource Wealth Advisors LLC bought a new position in shares of ArcBest in the fourth quarter worth $25,000. Financial Management Professionals Inc. purchased a new position in ArcBest in the first quarter worth $26,000. Raleigh Capital Management Inc. purchased a new position in ArcBest in the fourth quarter worth $36,000. Parallel Advisors LLC grew its position in ArcBest by 40.1% in the first quarter. Parallel Advisors LLC now owns 632 shares of the transportation company’s stock worth $54,000 after acquiring an additional 181 shares in the last quarter. Finally, Manchester Capital Management LLC purchased a new position in ArcBest in the third quarter worth $64,000. 91.06% of the stock is currently owned by hedge funds and other institutional investors.

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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