ArcBest (NASDAQ:ARCB) Stock Price Up 2.7%

ArcBest Co. (NASDAQ:ARCBGet Rating) shares rose 2.7% during trading on Tuesday . The stock traded as high as $71.49 and last traded at $71.22. Approximately 833 shares traded hands during trading, a decline of 100% from the average daily volume of 436,979 shares. The stock had previously closed at $69.32.

ARCB has been the topic of several research analyst reports. Bank of America cut shares of ArcBest from a “buy” rating to a “neutral” rating and set a $76.00 price target on the stock. in a research note on Friday, April 8th. Zacks Investment Research cut shares of ArcBest from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 5th. StockNews.com began coverage on shares of ArcBest in a research note on Thursday, March 31st. They issued a “buy” rating on the stock. The Goldman Sachs Group lifted their target price on shares of ArcBest from $108.00 to $111.00 and gave the stock a “neutral” rating in a report on Wednesday, February 2nd. Finally, Stifel Nicolaus lifted their target price on shares of ArcBest from $133.00 to $135.00 in a report on Friday, February 4th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $105.00.

The company has a market cap of $1.81 billion, a price-to-earnings ratio of 9.00, a price-to-earnings-growth ratio of 0.51 and a beta of 1.60. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.19. The firm’s fifty day moving average price is $83.90 and its 200-day moving average price is $94.09.

ArcBest (NASDAQ:ARCBGet Rating) last announced its quarterly earnings results on Tuesday, February 1st. The transportation company reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.52. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.13 billion. ArcBest had a net margin of 5.36% and a return on equity of 24.57%. The firm’s revenue was up 45.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.97 EPS. As a group, research analysts anticipate that ArcBest Co. will post 10.69 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 25th. Investors of record on Friday, February 11th were given a $0.08 dividend. The ex-dividend date was Thursday, February 10th. This represents a $0.32 annualized dividend and a yield of 0.43%. ArcBest’s dividend payout ratio is currently 4.01%.

In related news, Director Steven Spinner sold 5,000 shares of the business’s stock in a transaction on Friday, February 4th. The shares were sold at an average price of $90.00, for a total value of $450,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael P. Hogan acquired 1,771 shares of the business’s stock in a transaction that occurred on Monday, February 7th. The stock was bought at an average cost of $84.77 per share, for a total transaction of $150,127.67. The disclosure for this purchase can be found here. Insiders own 1.68% of the company’s stock.

A number of large investors have recently modified their holdings of the business. BlackRock Inc. lifted its position in ArcBest by 1.0% during the 4th quarter. BlackRock Inc. now owns 4,152,529 shares of the transportation company’s stock worth $497,679,000 after buying an additional 43,094 shares in the last quarter. LSV Asset Management lifted its position in ArcBest by 29.9% during the 3rd quarter. LSV Asset Management now owns 638,496 shares of the transportation company’s stock worth $52,209,000 after buying an additional 146,968 shares in the last quarter. Bank of America Corp DE lifted its position in ArcBest by 28.6% during the 4th quarter. Bank of America Corp DE now owns 507,495 shares of the transportation company’s stock worth $60,823,000 after buying an additional 112,804 shares in the last quarter. Geode Capital Management LLC lifted its position in ArcBest by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 474,263 shares of the transportation company’s stock worth $56,840,000 after buying an additional 4,107 shares in the last quarter. Finally, Morgan Stanley lifted its position in ArcBest by 140.3% during the 2nd quarter. Morgan Stanley now owns 462,902 shares of the transportation company’s stock worth $26,936,000 after buying an additional 270,233 shares in the last quarter. 92.18% of the stock is currently owned by hedge funds and other institutional investors.

About ArcBest (NASDAQ:ARCB)

ArcBest Corporation provides freight transportation and integrated logistics services. It operates through three segments: Asset-Based, ArcBest, and FleetNet. The Asset-Based segment transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, nonbulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products through less-than-truckload services.

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