Brokerages Set ArcBest Co. (NASDAQ:ARCB) PT at $123.67

ArcBest Co. (NASDAQ:ARCB) has earned an average recommendation of “Hold” from the thirteen analysts that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $123.67.

A number of brokerages recently issued reports on ARCB. Wolfe Research lowered ArcBest from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, October 9th. Morgan Stanley dropped their target price on ArcBest from $175.00 to $170.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Wells Fargo & Company dropped their target price on ArcBest from $115.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Stifel Nicolaus dropped their target price on ArcBest from $114.00 to $109.00 and set a “buy” rating on the stock in a research report on Wednesday, January 15th. Finally, StockNews.com raised ArcBest from a “hold” rating to a “buy” rating in a research report on Thursday, October 3rd.

ArcBest Stock Down 1.6 %

Shares of ArcBest stock opened at $98.47 on Monday. ArcBest has a 1 year low of $91.01 and a 1 year high of $153.60. The business has a 50-day moving average of $102.87 and a two-hundred day moving average of $106.49. The company has a market capitalization of $2.30 billion, a P/E ratio of 12.16, a price-to-earnings-growth ratio of 1.86 and a beta of 1.53. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings results on Friday, November 1st. The transportation company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.20). ArcBest had a return on equity of 14.27% and a net margin of 4.54%. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the company earned $2.31 earnings per share. The firm’s revenue was down 5.8% compared to the same quarter last year. As a group, equities analysts predict that ArcBest will post 6.02 EPS for the current year.

ArcBest Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were paid a dividend of $0.12 per share. The ex-dividend date was Wednesday, November 13th. This represents a $0.48 annualized dividend and a dividend yield of 0.49%. ArcBest’s dividend payout ratio is currently 5.93%.

Insider Transactions at ArcBest

In related news, SVP Michael E. Newcity sold 10,443 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $120.60, for a total value of $1,259,425.80. Following the completion of the sale, the senior vice president now directly owns 5,051 shares in the company, valued at $609,150.60. The trade was a 67.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Craig E. Philip sold 3,900 shares of the business’s stock in a transaction 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 completion of the sale, the director now owns 23,250 shares of the company’s stock, valued at $2,555,407.50. This trade represents a 14.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.18% of the stock is currently owned by corporate insiders.

Institutional Trading of ArcBest

Several institutional investors have recently added to or reduced their stakes in the company. Quarry LP raised its holdings in ArcBest by 120.7% in the 2nd quarter. Quarry LP now owns 245 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 134 shares in the last quarter. Blue Trust Inc. raised its holdings in ArcBest by 146.3% in the 4th quarter. Blue Trust Inc. now owns 298 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 177 shares in the last quarter. GAMMA Investing LLC raised its holdings in ArcBest by 63.7% in the 3rd quarter. GAMMA Investing LLC now owns 514 shares of the transportation company’s stock valued at $56,000 after acquiring an additional 200 shares in the last quarter. Quest Partners LLC raised its holdings in ArcBest by 60.6% in the 3rd quarter. Quest Partners LLC now owns 546 shares of the transportation company’s stock valued at $59,000 after acquiring an additional 206 shares in the last quarter. Finally, Avior Wealth Management LLC raised its holdings in ArcBest by 17.9% in the 3rd quarter. Avior Wealth Management LLC now owns 625 shares of the transportation company’s stock valued at $68,000 after acquiring an additional 95 shares in the last quarter. 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.