Analysts Set ArcBest Co. (NASDAQ:ARCB) PT at $123.17

Shares of ArcBest Co. (NASDAQ:ARCB) have been given an average rating of “Hold” by the thirteen research firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $123.17.

A number of research analysts have commented on ARCB shares. Wells Fargo & Company lowered their price target on ArcBest from $112.00 to $105.00 and set an “equal weight” rating for the company in a research report on Monday, November 4th. Jefferies Financial Group lowered their price target on ArcBest from $140.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, October 10th. UBS Group lowered their price target on ArcBest from $111.00 to $110.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. JPMorgan Chase & Co. decreased their target price on ArcBest from $130.00 to $117.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Finally, StockNews.com raised ArcBest from a “hold” rating to a “buy” rating in a research report on Thursday, October 3rd.

ArcBest Trading Up 3.2 %

Shares of ARCB stock opened at $116.43 on Wednesday. The stock has a market capitalization of $2.72 billion, a PE ratio of 14.37, a P/E/G ratio of 1.36 and a beta of 1.47. ArcBest has a 1-year low of $94.76 and a 1-year high of $153.60. The business has a 50-day moving average of $105.14 and a 200 day moving average of $109.39. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.19.

ArcBest (NASDAQ:ARCB) last issued its earnings results on Friday, November 1st. The transportation company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.84 by ($0.20). The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.07 billion. ArcBest had a net margin of 4.54% and a return on equity of 14.27%. The company’s revenue was down 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.31 earnings per share. As a group, sell-side analysts anticipate that ArcBest will post 6.69 earnings per share for the current year.

ArcBest Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be paid a $0.12 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.41%. ArcBest’s dividend payout ratio (DPR) is currently 5.93%.

Insider Transactions at ArcBest

In other news, SVP Michael E. Newcity sold 10,443 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $120.60, for a total value of $1,259,425.80. Following the transaction, the senior vice president now directly owns 5,051 shares in the company, valued at $609,150.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, Director Salvatore A. Abbate bought 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average cost of $103.93 per share, with a total value of $103,930.00. Following the acquisition, the director now owns 3,650 shares in the company, valued at $379,344.50. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael E. Newcity sold 10,443 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $120.60, for a total value of $1,259,425.80. Following the completion of the transaction, the senior vice president now directly owns 5,051 shares in the company, valued at approximately $609,150.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.18% of the company’s stock.

Hedge Funds Weigh In On ArcBest

A number of institutional investors have recently bought and sold shares of ARCB. Janney Montgomery Scott LLC raised its holdings in ArcBest by 2.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 25,397 shares of the transportation company’s stock worth $3,619,000 after purchasing an additional 694 shares during the period. GSA Capital Partners LLP raised its holdings in ArcBest by 135.1% in the 1st quarter. GSA Capital Partners LLP now owns 5,130 shares of the transportation company’s stock worth $731,000 after purchasing an additional 2,948 shares during the period. Texas Permanent School Fund Corp raised its holdings in ArcBest by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 20,709 shares of the transportation company’s stock worth $2,951,000 after purchasing an additional 268 shares during the period. Lisanti Capital Growth LLC bought a new position in ArcBest in the 1st quarter worth $3,524,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in ArcBest in the 1st quarter worth $370,000. 99.27% of the stock is owned by institutional investors.

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.