ArcBest Co. (NASDAQ:ARCB) Receives $129.33 Consensus Target Price from Brokerages

Shares of ArcBest Co. (NASDAQ:ARCB) have earned a consensus recommendation of “Hold” from the thirteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $127.92.

Several equities analysts have weighed in on ARCB shares. Jefferies Financial Group dropped their price objective on ArcBest from $140.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, October 10th. StockNews.com raised ArcBest from a “hold” rating to a “buy” rating in a research note on Thursday, October 3rd. Morgan Stanley reduced their price objective on shares of ArcBest from $180.00 to $176.00 and set an “overweight” rating on the stock in a research note on Monday, July 8th. Citigroup started coverage on shares of ArcBest in a report on Wednesday, October 9th. They set a “neutral” rating and a $111.00 price target for the company. Finally, The Goldman Sachs Group reduced their price target on shares of ArcBest from $133.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th.

ArcBest Trading Down 1.3 %

Shares of ArcBest stock opened at $103.50 on Friday. ArcBest has a 52-week low of $86.93 and a 52-week high of $153.60. The stock has a market cap of $2.43 billion, a PE ratio of 20.82, a PEG ratio of 1.28 and a beta of 1.46. The firm has a 50-day moving average of $105.54 and a 200-day moving average of $113.54. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.19 and a current ratio of 1.19.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings data on Friday, August 2nd. The transportation company reported $1.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.03 by ($0.05). ArcBest had a net margin of 2.96% and a return on equity of 15.98%. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the firm earned $1.54 EPS. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, sell-side analysts forecast that ArcBest will post 7.06 EPS for the current year.

ArcBest Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were given a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.46%. ArcBest’s dividend payout ratio (DPR) is currently 9.66%.

Insider Buying and Selling

In other ArcBest news, Director Salvatore A. Abbate purchased 1,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was purchased at an average cost of $103.93 per share, for a total transaction of $103,930.00. Following the acquisition, the director now owns 3,650 shares in the company, valued at approximately $379,344.50. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.65% of the stock is owned by insiders.

Hedge Funds Weigh In On ArcBest

A number of institutional investors and hedge funds have recently modified their holdings of ARCB. Contravisory Investment Management Inc. lifted its position in shares of ArcBest by 70.9% during the 1st quarter. Contravisory Investment Management Inc. now owns 188 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 78 shares during the period. Louisiana State Employees Retirement System boosted its position in shares of ArcBest by 0.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 11,800 shares of the transportation company’s stock worth $1,264,000 after purchasing an additional 100 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of ArcBest by 4.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,101 shares of the transportation company’s stock valued at $332,000 after buying an additional 125 shares during the period. Johnson Investment Counsel Inc. increased its position in ArcBest by 6.5% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 2,095 shares of the transportation company’s stock valued at $224,000 after buying an additional 128 shares in the last quarter. Finally, Oliver Luxxe Assets LLC raised its stake in ArcBest by 1.6% during the 1st quarter. Oliver Luxxe Assets LLC now owns 8,216 shares of the transportation company’s stock worth $1,171,000 after buying an additional 129 shares during the period. 99.27% of the stock is currently owned by institutional investors.

ArcBest Company Profile

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.