ArcBest (NASDAQ:ARCB) Downgraded to Hold at StockNews.com

StockNews.com cut shares of ArcBest (NASDAQ:ARCB) from a buy rating to a hold rating in a report issued on Thursday.

Several other equities analysts have also commented on ARCB. Deutsche Bank Aktiengesellschaft assumed coverage on shares of ArcBest in a report on Monday, January 29th. They issued a buy rating and a $148.00 target price on the stock. Morgan Stanley boosted their price objective on shares of ArcBest from $155.00 to $175.00 and gave the company an overweight rating in a research report on Wednesday, February 7th. TD Cowen reduced their target price on ArcBest from $177.00 to $148.00 and set a buy rating on the stock in a report on Wednesday, May 1st. Bank of America lowered their price target on ArcBest from $143.00 to $110.00 and set an underperform rating for the company in a report on Wednesday, May 1st. Finally, UBS Group reduced their price objective on ArcBest from $150.00 to $126.00 and set a neutral rating on the stock in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, ArcBest currently has a consensus rating of Moderate Buy and a consensus price target of $143.38.

ArcBest Price Performance

ArcBest stock opened at $114.85 on Thursday. The firm has a market cap of $2.70 billion, a PE ratio of 23.11, a price-to-earnings-growth ratio of 0.53 and a beta of 1.56. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.23 and a quick ratio of 1.26. The stock’s fifty day moving average price is $137.54 and its two-hundred day moving average price is $125.99. ArcBest has a one year low of $82.18 and a one year high of $153.60.

ArcBest (NASDAQ:ARCB) last released its earnings results on Tuesday, April 30th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.19). The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. ArcBest had a return on equity of 15.27% and a net margin of 2.80%. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period last year, the company posted $1.58 earnings per share. As a group, research analysts expect that ArcBest will post 9 EPS for the current fiscal year.

ArcBest Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.42%. The ex-dividend date is Thursday, May 9th. ArcBest’s dividend payout ratio is currently 9.66%.

Insider Buying and Selling

In other ArcBest news, insider Erin K. Gattis sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $141.58, for a total value of $283,160.00. Following the completion of the transaction, the insider now directly owns 32,247 shares in the company, valued at approximately $4,565,530.26. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.65% of the stock is owned by corporate insiders.

Institutional Trading of ArcBest

Several institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC lifted its holdings 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 buying an additional 75 shares during the period. Contravisory Investment Management Inc. raised its position in shares of ArcBest by 70.9% during the first quarter. Contravisory Investment Management Inc. now owns 188 shares of the transportation company’s stock worth $27,000 after acquiring an additional 78 shares during the last quarter. Allworth Financial LP lifted its stake in shares of ArcBest by 15,450.0% in the third quarter. Allworth Financial LP now owns 311 shares of the transportation company’s stock worth $32,000 after acquiring an additional 309 shares during the period. GAMMA Investing LLC bought a new stake in ArcBest in the fourth quarter valued at approximately $39,000. Finally, Parallel Advisors LLC increased its position in ArcBest by 45.8% during the 4th quarter. Parallel Advisors LLC now owns 363 shares of the transportation company’s stock valued at $44,000 after purchasing an additional 114 shares during the period. Institutional investors own 99.27% of the company’s stock.

About ArcBest

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.