ArcBest’s (ARCB) “Overweight” Rating Reiterated at Stephens

Stephens reiterated their overweight rating on shares of ArcBest (NASDAQ:ARCB) in a research note published on Tuesday,Benzinga reports. They currently have a $116.00 price objective on the transportation company’s stock.

Several other equities research analysts have also recently commented on the company. UBS Group cut their target price on ArcBest from $110.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Wells Fargo & Company cut their target price on ArcBest from $105.00 to $96.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Stifel Nicolaus boosted their target price on ArcBest from $109.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Citigroup boosted their target price on ArcBest from $110.00 to $127.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Finally, Morgan Stanley cut their target price on ArcBest from $160.00 to $145.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, ArcBest has an average rating of “Hold” and an average price target of $109.75.

ArcBest Trading Up 0.2 %

NASDAQ:ARCB opened at $73.03 on Tuesday. ArcBest has a fifty-two week low of $70.96 and a fifty-two week high of $153.61. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.04. The stock has a market capitalization of $1.69 billion, a PE ratio of 9.96, a price-to-earnings-growth ratio of 1.70 and a beta of 1.54. The business’s 50-day simple moving average is $90.45 and its 200-day simple moving average is $100.27.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings data on Friday, January 31st. The transportation company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.22. ArcBest had a return on equity of 11.79% and a net margin of 4.16%. During the same quarter in the previous year, the firm posted $2.47 EPS. Sell-side analysts expect that ArcBest will post 7 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were given a dividend of $0.12 per share. The ex-dividend date was Tuesday, February 11th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.66%. ArcBest’s payout ratio is 6.55%.

Insider Activity

In related news, CFO John Matthew Beasley bought 700 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was purchased at an average cost of $74.89 per share, for a total transaction of $52,423.00. Following the transaction, the chief financial officer now owns 8,142 shares in the company, valued at $609,754.38. The trade was a 9.41 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.65% of the company’s stock.

Institutional Trading of ArcBest

A number of institutional investors have recently modified their holdings of ARCB. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of ArcBest during the 4th quarter worth $2,994,000. Mackenzie Financial Corp lifted its position in shares of ArcBest by 71.0% during the 4th quarter. Mackenzie Financial Corp now owns 15,449 shares of the transportation company’s stock worth $1,442,000 after buying an additional 6,412 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of ArcBest by 3.4% during the 4th quarter. Public Employees Retirement System of Ohio now owns 35,270 shares of the transportation company’s stock worth $3,291,000 after buying an additional 1,146 shares during the last quarter. Zimmer Partners LP lifted its position in shares of ArcBest by 23.5% during the 4th quarter. Zimmer Partners LP now owns 105,000 shares of the transportation company’s stock worth $9,799,000 after buying an additional 20,000 shares during the last quarter. Finally, Westwood Holdings Group Inc. lifted its position in shares of ArcBest by 2.6% during the 4th quarter. Westwood Holdings Group Inc. now owns 635,858 shares of the transportation company’s stock worth $59,338,000 after buying an additional 16,239 shares during the last quarter. 99.27% of the stock is currently owned by 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.