Brokerages Set ArcBest Co. (NASDAQ:ARCB) Target Price at $118.91

Shares of ArcBest Co. (NASDAQ:ARCB) have earned an average recommendation of “Hold” from the thirteen research firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $109.75.

ARCB has been the subject of several recent research reports. UBS Group reduced their price target on ArcBest from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. Bank of America cut their price target on ArcBest from $100.00 to $73.00 and set an “underperform” rating for the company in a research note on Wednesday. Citigroup dropped their price objective on ArcBest from $103.00 to $83.00 and set a “neutral” rating on the stock in a report on Tuesday. Stephens reiterated an “overweight” rating and set a $116.00 target price on shares of ArcBest in a research report on Tuesday. Finally, Morgan Stanley dropped their target price on shares of ArcBest from $160.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd.

ArcBest Stock Performance

Shares of ARCB stock opened at $73.03 on Tuesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.04. The business has a fifty day moving average of $90.45 and a 200 day moving average of $100.27. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of 9.96, a price-to-earnings-growth ratio of 1.70 and a beta of 1.54. ArcBest has a 1 year low of $70.96 and a 1 year high of $153.61.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings results on Friday, January 31st. The transportation company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.22. ArcBest had a net margin of 4.16% and a return on equity of 11.79%. During the same quarter last year, the firm posted $2.47 earnings per share. As a group, research analysts expect that ArcBest will post 7 earnings per share for the current year.

ArcBest Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date was Tuesday, February 11th. ArcBest’s payout ratio is 6.55%.

Insider Buying and Selling at ArcBest

In other ArcBest news, CFO John Matthew Beasley bought 700 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average cost of $74.89 per share, with a total value of $52,423.00. Following the purchase, the chief financial officer now directly owns 8,142 shares in the company, valued at approximately $609,754.38. This represents a 9.41 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.65% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. OneDigital Investment Advisors LLC grew its stake in ArcBest by 3.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,509 shares of the transportation company’s stock worth $272,000 after buying an additional 86 shares during the last quarter. Avior Wealth Management LLC raised its holdings in shares of ArcBest by 17.9% in 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. Arizona State Retirement System boosted its stake in shares of ArcBest by 1.6% during the fourth quarter. Arizona State Retirement System now owns 6,856 shares of the transportation company’s stock worth $640,000 after buying an additional 108 shares during the period. Summit Investment Advisors Inc. grew its holdings in shares of ArcBest by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,463 shares of the transportation company’s stock worth $230,000 after buying an additional 157 shares during the last quarter. Finally, Stephens Inc. AR increased its position in ArcBest by 2.1% in the 4th quarter. Stephens Inc. AR now owns 8,128 shares of the transportation company’s stock valued at $758,000 after acquiring an additional 170 shares during the period. 99.27% of the stock is owned by institutional investors and hedge funds.

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.