ArcBest Co. (NASDAQ:ARCB) Receives $107.00 Average PT from Brokerages

ArcBest Co. (NASDAQ:ARCB) has received a consensus rating of “Hold” from the thirteen research firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $107.00.

Several research analysts have recently commented on ARCB shares. Morgan Stanley decreased their price objective on ArcBest from $160.00 to $145.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Stifel Nicolaus raised their target price on shares of ArcBest from $109.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Bank of America dropped their price target on shares of ArcBest from $100.00 to $73.00 and set an “underperform” rating for the company in a research report on Wednesday, March 12th. The Goldman Sachs Group reduced their price objective on shares of ArcBest from $126.00 to $108.00 and set a “neutral” rating for the company in a research note on Friday, March 14th. Finally, Wells Fargo & Company lowered their target price on shares of ArcBest from $96.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 27th.

Insider Activity at ArcBest

In other ArcBest news, CFO John Matthew Beasley purchased 700 shares of ArcBest stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average price of $74.89 per share, for a total transaction of $52,423.00. Following the completion of the transaction, the chief financial officer now owns 8,142 shares of the company’s stock, valued at approximately $609,754.38. This trade represents a 9.41 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.28% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ARCB. Blue Trust Inc. raised its holdings in ArcBest by 146.3% during the 4th quarter. Blue Trust Inc. now owns 298 shares of the transportation company’s stock valued at $28,000 after buying an additional 177 shares during the period. R Squared Ltd purchased a new stake in shares of ArcBest in the fourth quarter valued at $40,000. Smartleaf Asset Management LLC lifted its holdings in shares of 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 acquiring an additional 453 shares during the last quarter. KBC Group NV boosted its stake in shares of ArcBest by 34.9% during the 4th quarter. KBC Group NV now owns 1,148 shares of the transportation company’s stock worth $107,000 after purchasing an additional 297 shares during the period. Finally, Cibc World Markets Corp bought a new position in ArcBest during the 4th quarter valued at about $206,000. Hedge funds and other institutional investors own 99.27% of the company’s stock.

ArcBest Stock Down 4.4 %

Shares of ARCB stock opened at $60.80 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.04 and a debt-to-equity ratio of 0.10. ArcBest has a 12 month low of $57.80 and a 12 month high of $153.61. The stock has a market cap of $1.41 billion, a P/E ratio of 8.29, a P/E/G ratio of 1.70 and a beta of 1.62. The company has a 50 day simple moving average of $81.21 and a two-hundred day simple moving average of $96.18.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings data on Friday, January 31st. The transportation company reported $1.33 EPS for the quarter, topping the consensus estimate 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 last year, the business posted $2.47 earnings per share. On average, research analysts expect that ArcBest will post 7 earnings per share for the current year.

ArcBest Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were given a $0.12 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.79%. ArcBest’s dividend payout ratio is currently 6.55%.

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.