ArcBest (NASDAQ:ARCB) Downgraded by StockNews.com

StockNews.com lowered shares of ArcBest (NASDAQ:ARCB) from a buy rating to a hold rating in a research report report published on Wednesday.

ARCB has been the topic of a number of other reports. Stephens reiterated an overweight rating and set a $130.00 target price on shares of ArcBest in a research note on Wednesday, September 4th. Bank of America dropped their target price on shares of ArcBest from $102.00 to $99.00 and set an underperform rating on the stock in a research note on Wednesday, September 4th. Wells Fargo & Company lowered shares of ArcBest from an overweight rating to an equal weight rating and decreased their price target for the stock from $122.00 to $112.00 in a research note on Wednesday, September 4th. Morgan Stanley dropped their price objective on ArcBest from $180.00 to $176.00 and set an overweight rating on the stock in a research note on Monday, July 8th. Finally, JPMorgan Chase & Co. reduced their price objective on ArcBest from $134.00 to $133.00 and set a neutral rating for the company in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $133.18.

ArcBest Stock Up 1.4 %

ArcBest stock opened at $109.30 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.19 and a current ratio of 1.19. The stock has a market cap of $2.56 billion, a PE ratio of 21.99, a price-to-earnings-growth ratio of 1.37 and a beta of 1.46. ArcBest has a fifty-two week low of $86.93 and a fifty-two week high of $153.60. The firm’s 50-day simple moving average is $108.88 and its 200 day simple moving average is $116.78.

ArcBest (NASDAQ:ARCB) last released its earnings results on Friday, August 2nd. The transportation company reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.03 by ($0.05). The business had revenue of $1.08 billion during 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 business’s revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.54 earnings per share. Research analysts predict that ArcBest will post 7.21 EPS for the current fiscal year.

ArcBest Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Tuesday, August 13th. ArcBest’s dividend payout ratio (DPR) is presently 9.66%.

Insider Activity at ArcBest

In related news, Director Salvatore A. Abbate bought 1,000 shares of the business’s stock in a transaction on Monday, August 12th. The stock was acquired at an average price of $103.93 per share, for a total transaction of $103,930.00. Following the purchase, the director now directly owns 3,650 shares in the company, valued at $379,344.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.65% of the stock is currently owned by corporate insiders.

Institutional Trading of ArcBest

Several institutional investors and hedge funds have recently bought and sold shares of ARCB. Norges Bank bought a new position in shares of ArcBest in the fourth quarter worth $9,298,000. Trexquant Investment LP purchased a new stake in shares of ArcBest in the 4th quarter valued at about $1,054,000. Franklin Resources Inc. boosted its position in shares of ArcBest by 26.0% during the 4th quarter. Franklin Resources Inc. now owns 7,772 shares of the transportation company’s stock valued at $934,000 after acquiring an additional 1,602 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of ArcBest by 49.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 227 shares of the transportation company’s stock worth $27,000 after purchasing an additional 75 shares in the last quarter. Finally, US Bancorp DE grew its holdings in shares of ArcBest by 25.1% during the fourth quarter. US Bancorp DE now owns 11,707 shares of the transportation company’s stock worth $1,407,000 after purchasing an additional 2,351 shares in the last quarter. 99.27% of the stock is currently owned by hedge funds and other institutional investors.

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.