ArcBest Co. (NASDAQ:ARCB) Receives $124.50 Average Price Target from Brokerages

Shares of ArcBest Co. (NASDAQ:ARCB) have been assigned an average recommendation of “Hold” from the thirteen analysts that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $124.50.

ARCB has been the subject of several research analyst reports. Wolfe Research lowered shares of ArcBest from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. StockNews.com upgraded ArcBest from a “hold” rating to a “buy” rating in a research note on Thursday, October 3rd. Jefferies Financial Group reduced their price target on ArcBest from $140.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. JPMorgan Chase & Co. lowered their price objective on ArcBest from $130.00 to $117.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Finally, Stifel Nicolaus reduced their target price on shares of ArcBest from $131.00 to $119.00 and set a “buy” rating on the stock in a research report on Monday, October 21st.

Insider Activity at ArcBest

In related news, Director Craig E. Philip sold 3,900 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $109.91, for a total value of $428,649.00. Following the sale, the director now owns 23,250 shares in the company, valued at approximately $2,555,407.50. This trade represents a 14.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Michael E. Newcity sold 10,443 shares of ArcBest stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $120.60, for a total transaction of $1,259,425.80. Following the completion of the sale, the senior vice president now directly owns 5,051 shares of the company’s stock, valued at approximately $609,150.60. This trade represents a 67.40 % decrease in their position. The disclosure for this sale can be found here. 1.65% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ArcBest

A number of institutional investors and hedge funds have recently modified their holdings of the company. Quarry LP lifted its holdings in ArcBest by 120.7% in the second quarter. Quarry LP now owns 245 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 134 shares during the period. Innealta Capital LLC bought a new position in shares of ArcBest in the 2nd quarter worth approximately $33,000. Quest Partners LLC purchased a new position in shares of ArcBest in the second quarter worth approximately $36,000. GAMMA Investing LLC boosted its holdings in shares of ArcBest by 63.7% in the third quarter. GAMMA Investing LLC now owns 514 shares of the transportation company’s stock worth $56,000 after buying an additional 200 shares during the last quarter. Finally, Avior Wealth Management LLC increased its holdings in ArcBest by 17.9% during the third quarter. Avior Wealth Management LLC now owns 625 shares of the transportation company’s stock valued at $68,000 after buying an additional 95 shares during the last quarter. 99.27% of the stock is currently owned by hedge funds and other institutional investors.

ArcBest Price Performance

ARCB opened at $93.60 on Thursday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market capitalization of $2.19 billion, a PE ratio of 11.56, a price-to-earnings-growth ratio of 2.56 and a beta of 1.49. The stock’s 50 day moving average price is $106.83 and its 200-day moving average price is $107.82. ArcBest has a 52-week low of $92.08 and a 52-week high of $153.60.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings data on Friday, November 1st. The transportation company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.84 by ($0.20). The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.07 billion. ArcBest had a return on equity of 14.27% and a net margin of 4.54%. The firm’s revenue for the quarter was down 5.8% compared to the same quarter last year. During the same quarter last year, the company posted $2.31 earnings per share. On average, equities research analysts predict that ArcBest will post 6.06 EPS for the current year.

ArcBest Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Wednesday, November 13th. ArcBest’s dividend payout ratio (DPR) is currently 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.