ArcBest Corporation (NASDAQ:ARCB) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Analysts rate ArcBest “Moderate Buy,” with seven buy ratings, seven holds and one strong-buy rating. The average 12-month price target is $154.23, with recent targets ranging from $154 to $180.
• ArcBest reported quarterly EPS of $2.38, beating estimates of $2.26, while revenue rose 15.9% year over year to $1.18 billion. Shares opened at $145.87 and have traded between $59.43 and $176.69 over the past year.
• The company declared a quarterly dividend of $0.12 per share, equivalent to a 0.3% yield. Insiders sold roughly $1.68 million of stock during the last quarter, while institutional investors own 99.27% of outstanding shares.

ArcBest Corporation (NASDAQ:ARCB - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the fifteen research firms that are covering the stock, MarketBeat reports. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $154.2308.

A number of equities analysts have commented on ARCB shares. Citigroup reduced their target price on ArcBest from $178.00 to $171.00 and set a "buy" rating for the company in a report on Tuesday, August 4th. Citizens Jmp initiated coverage on ArcBest in a research note on Wednesday, July 15th. They issued a "market outperform" rating and a $180.00 price target on the stock. TD Cowen dropped their price target on ArcBest from $175.00 to $155.00 and set a "hold" rating for the company in a research report on Thursday, July 30th. UBS Group increased their price objective on ArcBest from $145.00 to $154.00 and gave the company a "neutral" rating in a research note on Monday, August 3rd. Finally, Morgan Stanley raised their price objective on ArcBest from $150.00 to $180.00 and gave the company an "overweight" rating in a report on Monday, July 6th.

ArcBest Stock Up 2.1%

ARCB opened at $145.87 on Tuesday. ArcBest has a twelve month low of $59.43 and a twelve month high of $176.69. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.10. The company has a 50-day moving average price of $148.83 and a 200 day moving average price of $123.77. The company has a market cap of $3.26 billion, a PE ratio of 211.41, a price-to-earnings-growth ratio of 0.47 and a beta of 1.57.

ArcBest (NASDAQ:ARCB - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The transportation company reported $2.38 earnings per share for the quarter, beating analysts' consensus estimates of $2.26 by $0.12. ArcBest had a net margin of 0.39% and a return on equity of 7.92%. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the company posted $1.36 EPS. ArcBest's quarterly revenue was up 15.9% compared to the same quarter last year. Sell-side analysts expect that ArcBest will post 6.9 earnings per share for the current fiscal year.

ArcBest Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.3%. ArcBest's dividend payout ratio is presently 69.57%.

Insider Transactions at ArcBest

In related news, Director Judy R. Mcreynolds sold 2,857 shares of the company's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $138.98, for a total transaction of $397,065.86. Following the completion of the sale, the director owned 50,048 shares of the company's stock, valued at approximately $6,955,671.04. This represents a 5.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Erin K. Gattis sold 6,163 shares of the company's stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $140.00, for a total transaction of $862,820.00. Following the sale, the insider directly owned 24,286 shares of the company's stock, valued at approximately $3,400,040. This represents a 20.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 11,963 shares of company stock valued at $1,678,066 over the last quarter. Company insiders own 0.98% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ARCB. C M Bidwell & Associates Ltd. purchased a new stake in shares of ArcBest in the second quarter valued at approximately $74,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of ArcBest in the second quarter valued at approximately $92,000. Federated Hermes Inc. lifted its position in ArcBest by 126.6% during the fourth quarter. Federated Hermes Inc. now owns 1,015 shares of the transportation company's stock worth $75,000 after buying an additional 567 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in ArcBest during the second quarter worth approximately $85,000. Finally, Hantz Financial Services Inc. boosted its stake in ArcBest by 507.6% during the fourth quarter. Hantz Financial Services Inc. now owns 1,118 shares of the transportation company's stock worth $83,000 after buying an additional 934 shares during the last quarter. 99.27% of the stock is owned by hedge funds and other institutional investors.

About ArcBest

ArcBest Corporation NASDAQ: ARCB is a transportation and logistics company that offers comprehensive freight and supply chain solutions across North America. Founded in 1923 as Arkansas Best Freight System, the company has evolved into a diversified service provider with both asset-based and asset-light operations. Its core businesses include less-than-truckload (LTL) shipping through ABF Freight, expedited full-truckload services via Panther Premium Logistics, and a range of logistics and supply chain management services under its ArcBest Integrated Logistics division.

The company's asset-based operations also encompass FleetNet America, a provider of emergency roadside assistance and maintenance services for heavy-duty vehicles.

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