Brokerages Set ArcBest Co. (NASDAQ:ARCB) PT at $129.33

ArcBest Co. (NASDAQ:ARCB) has received a consensus recommendation of “Hold” from the thirteen brokerages that are presently covering the company, Marketbeat Ratings reports. One 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 brokerages that have issued a report on the stock in the last year is $127.92.

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group dropped their target price on ArcBest from $140.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, October 10th. Bank of America decreased their target price on shares of ArcBest from $102.00 to $99.00 and set an “underperform” rating on the stock in a research report on Wednesday, September 4th. StockNews.com upgraded shares of ArcBest from a “hold” rating to a “buy” rating in a research report on Thursday, October 3rd. Citigroup started coverage on ArcBest in a research note on Wednesday, October 9th. They set a “neutral” rating and a $111.00 price objective on the stock. Finally, Wells Fargo & Company lowered ArcBest from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $122.00 to $112.00 in a report on Wednesday, September 4th.

ArcBest Stock Up 1.4 %

Shares of ARCB opened at $106.31 on Friday. The firm’s 50-day simple moving average is $105.58 and its 200 day simple moving average is $113.87. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.19 and a current ratio of 1.19. The firm has a market cap of $2.49 billion, a P/E ratio of 21.39, a price-to-earnings-growth ratio of 1.28 and a beta of 1.46. ArcBest has a 52 week low of $86.93 and a 52 week high of $153.60.

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

ArcBest Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were issued a $0.12 dividend. The ex-dividend date was Tuesday, August 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.45%. ArcBest’s dividend payout ratio (DPR) is currently 9.66%.

Insider Activity at ArcBest

In related news, Director Salvatore A. Abbate acquired 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average price of $103.93 per share, with a total value of $103,930.00. Following the purchase, the director now directly owns 3,650 shares in the company, valued at approximately $379,344.50. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.65% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ARCB. Westwood Holdings Group Inc. boosted its holdings in shares of ArcBest by 34.7% during the 2nd quarter. Westwood Holdings Group Inc. now owns 583,762 shares of the transportation company’s stock valued at $62,509,000 after acquiring an additional 150,467 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of ArcBest by 4.0% during the second quarter. American Century Companies Inc. now owns 525,471 shares of the transportation company’s stock valued at $56,267,000 after purchasing an additional 20,115 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of ArcBest by 158.7% during the second quarter. Marshall Wace LLP now owns 191,987 shares of the transportation company’s stock valued at $20,558,000 after purchasing an additional 117,774 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of ArcBest by 9.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 165,175 shares of the transportation company’s stock worth $23,537,000 after purchasing an additional 14,463 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of ArcBest by 0.8% in the second quarter. The Manufacturers Life Insurance Company now owns 150,742 shares of the transportation company’s stock valued at $16,141,000 after buying an additional 1,214 shares during the period. 99.27% of the stock is currently owned by institutional investors and hedge funds.

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.