ArcBest (ARCB) Upgraded by BidaskClub to Buy

BidaskClub upgraded shares of ArcBest (NASDAQ:ARCB) from a hold rating to a buy rating in a research note published on Saturday morning.

A number of other equities research analysts have also commented on ARCB. Deutsche Bank reissued a hold rating and set a $29.00 price objective (up previously from $26.00) on shares of ArcBest in a report on Wednesday, August 9th. Buckingham Research assumed coverage on shares of ArcBest in a research note on Monday, August 21st. They issued a neutral rating and a $29.00 target price on the stock. ValuEngine raised shares of ArcBest from a hold rating to a buy rating in a research note on Friday, September 1st. Stifel Nicolaus reaffirmed a hold rating and issued a $28.00 target price on shares of ArcBest in a research note on Thursday, September 21st. Finally, Morgan Stanley reaffirmed an equal weight rating and issued a $22.00 target price (up previously from $21.00) on shares of ArcBest in a research note on Thursday, October 5th. Nine research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $30.86.

Shares of ArcBest (NASDAQ:ARCB) traded down $0.95 during trading hours on Friday, reaching $36.90. 200,954 shares of the company’s stock were exchanged, compared to its average volume of 237,622. ArcBest has a 12-month low of $16.95 and a 12-month high of $38.05. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.33. The company has a market cap of $946.01, a price-to-earnings ratio of 30.00 and a beta of 1.81.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings data on Friday, November 3rd. The transportation company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.01. ArcBest had a net margin of 0.88% and a return on equity of 5.34%. The firm had revenue of $744.30 million for the quarter, compared to analyst estimates of $750.16 million. During the same quarter in the prior year, the firm earned $0.48 EPS. The company’s revenue was up 4.3% on a year-over-year basis. analysts expect that ArcBest will post 1.28 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 28th. Stockholders of record on Tuesday, November 14th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend was Monday, November 13th. ArcBest’s dividend payout ratio (DPR) is presently 34.41%.

In related news, Director Steven Spinner sold 4,000 shares of the stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $32.00, for a total value of $128,000.00. Following the sale, the director now directly owns 24,700 shares in the company, valued at approximately $790,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michael R. Johns sold 6,593 shares of the stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $29.98, for a total transaction of $197,658.14. Following the completion of the sale, the vice president now owns 35,700 shares in the company, valued at $1,070,286. The disclosure for this sale can be found here. Insiders sold a total of 11,363 shares of company stock worth $348,758 in the last ninety days. Insiders own 0.97% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Arizona State Retirement System raised its position in shares of ArcBest by 0.8% in the 2nd quarter. Arizona State Retirement System now owns 12,516 shares of the transportation company’s stock valued at $258,000 after acquiring an additional 100 shares during the period. Louisiana State Employees Retirement System raised its position in shares of ArcBest by 1.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 9,800 shares of the transportation company’s stock valued at $202,000 after acquiring an additional 100 shares during the period. Texas Permanent School Fund raised its position in shares of ArcBest by 1.7% in the 2nd quarter. Texas Permanent School Fund now owns 17,543 shares of the transportation company’s stock valued at $361,000 after acquiring an additional 299 shares during the period. Rhumbline Advisers raised its position in shares of ArcBest by 0.6% in the 2nd quarter. Rhumbline Advisers now owns 51,568 shares of the transportation company’s stock valued at $1,062,000 after acquiring an additional 309 shares during the period. Finally, Thrivent Financial For Lutherans raised its position in shares of ArcBest by 6.4% in the 2nd quarter. Thrivent Financial For Lutherans now owns 14,480 shares of the transportation company’s stock valued at $298,000 after acquiring an additional 870 shares during the period. Institutional investors and hedge funds own 89.54% of the company’s stock.

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ArcBest Company Profile

ArcBest Corporation is a holding company of businesses providing integrated logistics solutions. The Company operates through three segments: Asset-Based, which consists of ABF Freight System, Inc and other subsidiaries; ArcBest, which represents the consolidation of the operations of the Premium Logistics, Transportation Management and Household Goods Moving Services segments, and FleetNet, which includes the results of operations of FleetNet America, Inc (FleetNet).

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