ArcBest (NASDAQ:ARCB) Upgraded at StockNews.com

StockNews.com upgraded shares of ArcBest (NASDAQ:ARCB - Free Report) from a sell rating to a hold rating in a report released on Friday morning.

A number of other research firms have also weighed in on ARCB. UBS Group lowered their price target on shares of ArcBest from $100.00 to $64.00 and set a "neutral" rating for the company in a report on Wednesday, April 30th. Bank of America decreased their price objective on shares of ArcBest from $100.00 to $73.00 and set an "underperform" rating for the company in a report on Wednesday, March 12th. Citigroup reduced their price target on shares of ArcBest from $83.00 to $66.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Truist Financial reduced their target price on shares of ArcBest from $93.00 to $90.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Finally, The Goldman Sachs Group reduced their price objective on ArcBest from $97.00 to $84.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $88.75.

ArcBest Trading Up 14.1%

NASDAQ:ARCB traded up $8.69 on Friday, hitting $70.41. 552,326 shares of the stock were exchanged, compared to its average volume of 305,799. The stock has a market cap of $1.61 billion, a PE ratio of 9.61, a PEG ratio of 1.70 and a beta of 1.70. The company has a current ratio of 1.01, a quick ratio of 1.04 and a debt-to-equity ratio of 0.10. The stock has a fifty day moving average of $66.40 and a 200-day moving average of $88.32. ArcBest has a fifty-two week low of $55.19 and a fifty-two week high of $129.83.

ArcBest (NASDAQ:ARCB - Get Free Report) last posted its earnings results on Tuesday, April 29th. The transportation company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). The business had revenue of $967.08 million for the quarter, compared to analyst estimates of $990.03 million. ArcBest had a return on equity of 11.79% and a net margin of 4.16%. The firm's revenue for the quarter was down 6.7% compared to the same quarter last year. During the same period last year, the company posted $1.34 EPS. As a group, equities analysts expect that ArcBest will post 7 earnings per share for the current fiscal year.

ArcBest Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, May 9th will be given a $0.12 dividend. The ex-dividend date is Friday, May 9th. This represents a $0.48 annualized dividend and a dividend yield of 0.68%. ArcBest's dividend payout ratio (DPR) is presently 6.35%.

Insider Activity

In related news, CFO John Matthew Beasley bought 700 shares of the business's stock in a transaction on Thursday, March 13th. The stock was bought at an average price of $74.89 per share, for a total transaction of $52,423.00. Following the transaction, the chief financial officer now directly owns 8,142 shares in the company, valued at $609,754.38. This represents a 9.41% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.28% of the company's stock.

Institutional Trading of ArcBest

Several hedge funds and other institutional investors have recently modified their holdings of the company. Arizona State Retirement System increased its position in ArcBest by 1.6% during the 4th quarter. Arizona State Retirement System now owns 6,856 shares of the transportation company's stock worth $640,000 after buying an additional 108 shares during the period. Summit Investment Advisors Inc. increased its position in ArcBest by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,463 shares of the transportation company's stock worth $230,000 after acquiring an additional 157 shares during the period. Stephens Inc. AR increased its position in ArcBest by 2.1% during the fourth quarter. Stephens Inc. AR now owns 8,128 shares of the transportation company's stock worth $758,000 after acquiring an additional 170 shares during the period. Blue Trust Inc. increased its holdings in shares of ArcBest by 146.3% during the fourth quarter. Blue Trust Inc. now owns 298 shares of the transportation company's stock worth $28,000 after purchasing an additional 177 shares during the period. Finally, Crossmark Global Holdings Inc. increased its holdings in shares of ArcBest by 7.1% during the first quarter. Crossmark Global Holdings Inc. now owns 4,303 shares of the transportation company's stock worth $304,000 after purchasing an additional 285 shares during the period. 99.27% of the stock is currently owned by hedge funds and other institutional investors.

ArcBest Company Profile

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.