ArcBest (NASDAQ:ARCB) Shares Up 7.8%

Shares of ArcBest Co. (NASDAQ:ARCBGet Rating) shot up 7.8% during trading on Friday . The stock traded as high as $75.75 and last traded at $75.72. 5,292 shares were traded during trading, a decline of 98% from the average session volume of 252,064 shares. The stock had previously closed at $70.27.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ARCB. Morgan Stanley reduced their price target on shares of ArcBest from $140.00 to $139.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 9th. StockNews.com began coverage on shares of ArcBest in a research report on Wednesday, October 12th. They set a “buy” rating on the stock. Citigroup reduced their price target on shares of ArcBest from $94.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, October 7th. Finally, Credit Suisse Group increased their price target on shares of ArcBest from $87.00 to $92.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 2nd. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $113.67.

ArcBest Stock Up 8.1 %

The stock’s fifty day simple moving average is $76.77 and its 200-day simple moving average is $78.02. The stock has a market cap of $1.85 billion, a P/E ratio of 6.00, a PEG ratio of 0.35 and a beta of 1.56. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.32 and a quick ratio of 1.32.

ArcBest (NASDAQ:ARCBGet Rating) last announced its quarterly earnings results on Tuesday, November 1st. The transportation company reported $3.80 EPS for the quarter, beating the consensus estimate of $3.75 by $0.05. ArcBest had a net margin of 6.20% and a return on equity of 35.11%. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the business earned $2.59 earnings per share. ArcBest’s revenue was up 33.0% compared to the same quarter last year. On average, research analysts anticipate that ArcBest Co. will post 13.9 earnings per share for the current year.

ArcBest Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 25th. Shareholders of record on Friday, November 11th were paid a $0.12 dividend. The ex-dividend date was Wednesday, November 9th. This represents a $0.48 annualized dividend and a dividend yield of 0.63%. ArcBest’s payout ratio is currently 3.79%.

Insider Activity at ArcBest

In related news, insider Daniel E. Loe sold 7,555 shares of the firm’s stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $81.14, for a total transaction of $613,012.70. Following the transaction, the insider now owns 26,615 shares in the company, valued at $2,159,541.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.68% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. State of Alaska Department of Revenue increased its stake in shares of ArcBest by 6.9% during the second quarter. State of Alaska Department of Revenue now owns 18,514 shares of the transportation company’s stock valued at $1,302,000 after acquiring an additional 1,195 shares during the period. Pinnacle Holdings LLC boosted its holdings in ArcBest by 3.9% during the second quarter. Pinnacle Holdings LLC now owns 13,617 shares of the transportation company’s stock worth $958,000 after buying an additional 512 shares in the last quarter. Ziegler Capital Management LLC bought a new stake in ArcBest during the third quarter worth approximately $1,168,000. TD Asset Management Inc. boosted its holdings in ArcBest by 214.8% during the second quarter. TD Asset Management Inc. now owns 8,500 shares of the transportation company’s stock worth $598,000 after buying an additional 5,800 shares in the last quarter. Finally, Empirical Finance LLC bought a new stake in ArcBest during the second quarter worth approximately $399,000. Institutional investors and hedge funds own 88.59% of the company’s stock.

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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