ArcBest Co. (NASDAQ:ARCB) Given Consensus Recommendation of “Hold” by Brokerages

ArcBest Co. (NASDAQ:ARCB) has received an average rating of “Hold” from the thirteen analysts that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $124.50.

A number of brokerages have issued reports on ARCB. Jefferies Financial Group decreased their price target on ArcBest from $140.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, October 10th. Wells Fargo & Company dropped their price target on shares of ArcBest from $112.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Monday, November 4th. Stifel Nicolaus lowered their target price on shares of ArcBest from $131.00 to $119.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. Bank of America cut their price target on ArcBest from $102.00 to $99.00 and set an “underperform” rating for the company in a research note on Wednesday, September 4th. Finally, Stephens reissued an “overweight” rating and issued a $130.00 price objective on shares of ArcBest in a report on Wednesday, September 4th.

Insider Transactions at ArcBest

In other ArcBest news, SVP Michael E. Newcity sold 10,443 shares of ArcBest stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $120.60, for a total transaction of $1,259,425.80. Following the transaction, the senior vice president now directly owns 5,051 shares of the company’s stock, valued at $609,150.60. The trade was a 67.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Craig E. Philip sold 3,900 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $109.91, for a total transaction of $428,649.00. Following the completion of the transaction, the director now owns 23,250 shares in the company, valued at $2,555,407.50. The trade was a 14.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.65% of the company’s stock.

Institutional Trading of ArcBest

Several institutional investors have recently made changes to their positions in ARCB. Westwood Holdings Group Inc. increased its stake in ArcBest by 34.7% during the second quarter. Westwood Holdings Group Inc. now owns 583,762 shares of the transportation company’s stock worth $62,509,000 after acquiring an additional 150,467 shares during the last quarter. Marshall Wace LLP increased its position in shares of ArcBest by 158.7% during the 2nd quarter. Marshall Wace LLP now owns 191,987 shares of the transportation company’s stock worth $20,558,000 after purchasing an additional 117,774 shares during the last quarter. Emerald Advisers LLC purchased a new stake in ArcBest in the 2nd quarter valued at about $6,812,000. Mutual of America Capital Management LLC lifted its position in ArcBest by 1,455.0% in the second quarter. Mutual of America Capital Management LLC now owns 63,399 shares of the transportation company’s stock valued at $6,789,000 after buying an additional 59,322 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust purchased a new position in ArcBest during the second quarter worth about $5,630,000. Hedge funds and other institutional investors own 99.27% of the company’s stock.

ArcBest Trading Up 1.6 %

Shares of NASDAQ:ARCB opened at $115.28 on Friday. The business has a 50-day moving average price of $107.49 and a 200-day moving average price of $108.32. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of 14.23, a PEG ratio of 2.13 and a beta of 1.47. ArcBest has a 52-week low of $94.76 and a 52-week high of $153.60. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.09.

ArcBest (NASDAQ:ARCB) last posted its earnings results on Friday, November 1st. The transportation company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.20). The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.07 billion. ArcBest had a net margin of 4.54% and a return on equity of 14.27%. The company’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.31 earnings per share. Equities analysts predict that ArcBest will post 6.19 EPS for the current year.

ArcBest Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date was Wednesday, November 13th. ArcBest’s dividend payout ratio (DPR) is 5.93%.

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.