ArcBest Co. (NASDAQ:ARCB) Receives $133.18 Average Price Target from Analysts

Shares of ArcBest Co. (NASDAQ:ARCB) have been given an average rating of “Hold” by the eleven brokerages that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $133.18.

ARCB has been the subject of several research analyst reports. Stephens reissued an “overweight” rating and issued a $130.00 price target on shares of ArcBest in a report on Wednesday, September 4th. Stifel Nicolaus decreased their target price on ArcBest from $150.00 to $131.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. StockNews.com raised ArcBest from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. Bank of America decreased their price objective on ArcBest from $102.00 to $99.00 and set an “underperform” rating for the company in a research report on Wednesday, September 4th. Finally, Wells Fargo & Company downgraded shares of ArcBest from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $122.00 to $112.00 in a report on Wednesday, September 4th.

Insider Transactions at ArcBest

In related news, Director Salvatore A. Abbate bought 1,000 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average price of $103.93 per share, with a total value of $103,930.00. Following the completion of the transaction, the director now owns 3,650 shares in the company, valued at $379,344.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.65% of the company’s stock.

Hedge Funds Weigh In On ArcBest

A number of institutional investors have recently added to or reduced their stakes in the company. Quarry LP grew its position in shares of 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 during the period. EverSource Wealth Advisors LLC grew its holdings in ArcBest by 49.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 227 shares of the transportation company’s stock worth $27,000 after purchasing an additional 75 shares during the period. Contravisory Investment Management Inc. increased its position in ArcBest by 70.9% during the first quarter. Contravisory Investment Management Inc. now owns 188 shares of the transportation company’s stock worth $27,000 after buying an additional 78 shares during the last quarter. Innealta Capital LLC bought a new stake in ArcBest in the second quarter valued at approximately $33,000. Finally, Quest Partners LLC acquired a new stake in shares of ArcBest in the second quarter valued at approximately $36,000. 99.27% of the stock is currently owned by institutional investors and hedge funds.

ArcBest Trading Down 5.2 %

NASDAQ ARCB opened at $109.85 on Tuesday. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.12. ArcBest has a 12 month low of $86.93 and a 12 month high of $153.60. The company has a market capitalization of $2.57 billion, a PE ratio of 22.10, a P/E/G ratio of 1.22 and a beta of 1.46. The stock has a 50-day simple moving average of $109.86 and a 200 day simple moving average of $117.63.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings results on Friday, August 2nd. The transportation company reported $1.98 earnings per share 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 firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the business earned $1.54 earnings per share. The business’s revenue was down 2.4% on a year-over-year basis. Research analysts forecast that ArcBest will post 7.21 EPS for the current year.

ArcBest Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were given a dividend of $0.12 per share. The ex-dividend date was Tuesday, August 13th. This represents a $0.48 annualized dividend and a yield of 0.44%. ArcBest’s dividend payout ratio (DPR) is presently 9.66%.

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.