ArcBest Co. (NASDAQ:ARCB) Receives $129.33 Average Target Price from Analysts

Shares of ArcBest Co. (NASDAQ:ARCB) have earned a consensus recommendation of “Hold” from the thirteen research firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $127.92.

Several equities research analysts have recently commented on ARCB shares. Stifel Nicolaus lowered their price objective on shares of 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 upgraded shares of ArcBest from a “hold” rating to a “buy” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. lowered their price objective on shares of ArcBest from $134.00 to $133.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. Wolfe Research downgraded shares of ArcBest from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th. Finally, The Goldman Sachs Group lowered their price objective on shares of ArcBest from $133.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th.

Insider Buying and Selling at ArcBest

In other news, Director Salvatore A. Abbate acquired 1,000 shares of the business’s stock in a transaction on Monday, August 12th. The stock was bought at an average price of $103.93 per share, with a total value of $103,930.00. Following the completion of the acquisition, the director now owns 3,650 shares of the company’s stock, valued at approximately $379,344.50. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.65% of the stock is owned by corporate insiders.

Institutional Trading of ArcBest

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Westwood Holdings Group Inc. increased its stake in shares of ArcBest by 34.7% during the second quarter. Westwood Holdings Group Inc. now owns 583,762 shares of the transportation company’s stock worth $62,509,000 after purchasing an additional 150,467 shares in the last quarter. American Century Companies Inc. increased 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 worth $56,267,000 after purchasing an additional 20,115 shares in the last quarter. Marshall Wace LLP increased 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 worth $20,558,000 after purchasing an additional 117,774 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake 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 in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of ArcBest by 0.8% during the second quarter. The Manufacturers Life Insurance Company now owns 150,742 shares of the transportation company’s stock worth $16,141,000 after purchasing an additional 1,214 shares in the last quarter. Hedge funds and other institutional investors own 99.27% of the company’s stock.

ArcBest Price Performance

Shares of ARCB opened at $106.31 on Friday. The company has a market cap of $2.49 billion, a price-to-earnings ratio of 21.10, a price-to-earnings-growth ratio of 1.28 and a beta of 1.46. ArcBest has a twelve month low of $86.93 and a twelve month high of $153.60. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.12. The company has a 50 day moving average of $105.55 and a two-hundred day moving average of $114.45.

ArcBest (NASDAQ:ARCB) last announced its earnings results on Friday, August 2nd. The transportation company reported $1.98 earnings per share 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 was down 2.4% on a year-over-year basis. During the same quarter last year, the business earned $1.54 earnings per share. As a group, analysts predict that ArcBest will post 7.06 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders 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 yield of 0.45%. ArcBest’s payout ratio is 9.66%.

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.