ArcBest (NASDAQ:ARCB) Cut to Sell at StockNews.com

StockNews.com lowered shares of ArcBest (NASDAQ:ARCB) from a hold rating to a sell rating in a research report released on Thursday.

Several other equities analysts have also weighed in on the stock. Truist Financial dropped their price objective on shares of ArcBest from $93.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Bank of America decreased their price objective on ArcBest from $100.00 to $73.00 and set an “underperform” rating for the company in a report on Wednesday, March 12th. Citigroup cut their target price on ArcBest from $83.00 to $66.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Stephens restated an “overweight” rating and set a $116.00 price target on shares of ArcBest in a research note on Tuesday, March 11th. Finally, UBS Group dropped their price objective on shares of ArcBest from $100.00 to $64.00 and set a “neutral” rating on the stock in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $88.75.

ArcBest Stock Performance

Shares of ARCB opened at $62.01 on Thursday. The firm’s fifty day simple moving average is $68.08 and its two-hundred day simple moving average is $89.87. ArcBest has a 12 month low of $55.19 and a 12 month high of $129.83. 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 market capitalization of $1.44 billion, a P/E ratio of 8.46, a price-to-earnings-growth ratio of 1.70 and a beta of 1.70.

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

ArcBest Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 9th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend is Friday, May 9th. ArcBest’s payout ratio is 6.35%.

Insider Transactions at ArcBest

In other news, CFO John Matthew Beasley bought 700 shares of the stock in a transaction on Thursday, March 13th. The shares were purchased at an average cost of $74.89 per share, for a total transaction of $52,423.00. Following the completion of the purchase, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.28% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ArcBest

Several institutional investors have recently added to or reduced their stakes in ARCB. Signaturefd LLC boosted its holdings in ArcBest by 477.6% in the 1st quarter. Signaturefd LLC now owns 387 shares of the transportation company’s stock worth $27,000 after buying an additional 320 shares during the period. Blue Trust Inc. boosted its holdings in shares of ArcBest by 146.3% in the fourth quarter. Blue Trust Inc. now owns 298 shares of the transportation company’s stock worth $28,000 after acquiring an additional 177 shares during the period. CWM LLC grew its position in shares of ArcBest by 338.8% in the first quarter. CWM LLC now owns 452 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 349 shares in the last quarter. R Squared Ltd bought a new stake in shares of ArcBest during the 4th quarter valued at $40,000. Finally, Smartleaf Asset Management LLC boosted its stake in ArcBest by 471.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 549 shares of the transportation company’s stock worth $51,000 after purchasing an additional 453 shares during the period. 99.27% of the stock is owned by hedge funds and other 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.