ArcBest Co. (NASDAQ:ARCB - Get Free Report) shares hit a new 52-week high during trading on Friday . The stock traded as high as $149.99 and last traded at $149.93, with a volume of 210699 shares traded. The stock had previously closed at $143.74.
Analyst Upgrades and Downgrades
ARCB has been the topic of several recent research reports. Morgan Stanley raised their target price on shares of ArcBest from $155.00 to $175.00 and gave the stock an "overweight" rating in a report on Wednesday, February 7th. Stephens raised their target price on shares of ArcBest from $165.00 to $205.00 and gave the stock an "overweight" rating in a report on Wednesday, February 7th. StockNews.com raised shares of ArcBest from a "hold" rating to a "buy" rating in a report on Friday, January 26th. Deutsche Bank Aktiengesellschaft began coverage on shares of ArcBest in a report on Monday, January 29th. They set a "buy" rating and a $148.00 target price on the stock. Finally, TD Cowen lifted their price objective on shares of ArcBest from $141.00 to $178.00 and gave the company an "outperform" rating in a research note on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, ArcBest currently has an average rating of "Moderate Buy" and an average price target of $146.69.
Read Our Latest Research Report on ARCB
ArcBest Trading Up 4.3 %
The business's 50 day simple moving average is $137.27 and its two-hundred day simple moving average is $120.54. The stock has a market cap of $3.52 billion, a P/E ratio of 18.95, a PEG ratio of 0.60 and a beta of 1.49. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.13.
ArcBest (NASDAQ:ARCB - Get Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The transportation company reported $2.47 EPS for the quarter, topping analysts' consensus estimates of $2.22 by $0.25. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.09 billion. ArcBest had a net margin of 4.41% and a return on equity of 15.91%. ArcBest's revenue was down 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.45 earnings per share. As a group, analysts expect that ArcBest Co. will post 10.15 EPS for the current year.
ArcBest Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were issued a dividend of $0.12 per share. The ex-dividend date was Thursday, February 15th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.32%. ArcBest's dividend payout ratio (DPR) is presently 6.07%.
Insider Transactions at ArcBest
In other news, insider Erin K. Gattis sold 2,000 shares of ArcBest stock in a transaction on Friday, March 1st. The shares were sold at an average price of $141.58, for a total transaction of $283,160.00. Following the transaction, the insider now owns 32,247 shares in the company, valued at $4,565,530.26. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.65% of the stock is owned by company insiders.
Hedge Funds Weigh In On ArcBest
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in ArcBest by 2.1% in the first quarter. Vanguard Group Inc. now owns 2,714,834 shares of the transportation company's stock valued at $218,544,000 after buying an additional 55,946 shares during the period. State Street Corp increased its stake in ArcBest by 6.3% in the first quarter. State Street Corp now owns 1,067,783 shares of the transportation company's stock valued at $85,957,000 after purchasing an additional 63,476 shares in the last quarter. Morgan Stanley increased its stake in ArcBest by 2.3% in the fourth quarter. Morgan Stanley now owns 568,392 shares of the transportation company's stock valued at $39,810,000 after purchasing an additional 12,534 shares in the last quarter. Geode Capital Management LLC increased its stake in ArcBest by 1.8% in the second quarter. Geode Capital Management LLC now owns 525,662 shares of the transportation company's stock valued at $51,935,000 after purchasing an additional 9,184 shares in the last quarter. Finally, Northern Trust Corp increased its stake in ArcBest by 1.0% in the fourth quarter. Northern Trust Corp now owns 462,444 shares of the transportation company's stock valued at $55,590,000 after purchasing an additional 4,354 shares in the last quarter. Institutional investors and hedge funds own 99.27% of the company's stock.
About ArcBest
(
Get Free Report)
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.
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