ArcBest Co. (NASDAQ:ARCB) Receives $118.91 Average Price Target from Analysts

Shares of ArcBest Co. (NASDAQ:ARCB) have received an average rating of “Hold” from the thirteen brokerages that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $109.75.

A number of equities research analysts recently weighed in on ARCB shares. Stifel Nicolaus upped their price target on ArcBest from $109.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Stephens restated an “overweight” rating and set a $116.00 target price on shares of ArcBest in a research report on Tuesday. UBS Group dropped their price objective on shares of ArcBest from $110.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. Wells Fargo & Company dropped their price target on ArcBest from $105.00 to $96.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. Finally, Bank of America cut their target price on shares of ArcBest from $100.00 to $73.00 and set an “underperform” rating for the company in a research note on Wednesday.

ArcBest Trading Up 0.2 %

Shares of ArcBest stock opened at $73.03 on Tuesday. The company has a quick ratio of 1.04, a current ratio of 1.01 and a debt-to-equity ratio of 0.10. The firm has a market cap 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 52-week low of $70.96 and a 52-week high of $153.61. The company’s 50-day simple moving average is $90.45 and its 200-day simple moving average is $100.27.

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

ArcBest Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were issued a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.48 annualized dividend and a yield of 0.66%. ArcBest’s dividend payout ratio is currently 6.55%.

Insider Buying and Selling at ArcBest

In other news, CFO John Matthew Beasley bought 700 shares of ArcBest stock in a transaction on Thursday, March 13th. The shares were bought at an average price of $74.89 per share, with a total value of $52,423.00. Following the acquisition, 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.65% of the stock is owned by insiders.

Institutional Trading of ArcBest

Several hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. boosted its holdings in shares of ArcBest by 146.3% during the fourth quarter. Blue Trust Inc. now owns 298 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 177 shares during the period. R Squared Ltd acquired a new position in shares of ArcBest during the fourth quarter worth approximately $40,000. Smartleaf Asset Management LLC grew its holdings in ArcBest by 471.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 549 shares of the transportation company’s stock worth $51,000 after buying an additional 453 shares in the last quarter. Quest Partners LLC increased its position 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 during the period. Finally, Avior Wealth Management LLC grew its stake 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 worth $68,000 after purchasing an additional 95 shares in the last quarter. Institutional investors own 99.27% of the company’s stock.

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.