ArcBest Co. (NASDAQ:ARCB) Receives $124.50 Consensus PT from Analysts

ArcBest Co. (NASDAQ:ARCB) has earned a consensus recommendation of “Hold” from the thirteen brokerages that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $124.50.

Several equities analysts have recently weighed in on ARCB shares. Citigroup raised their target price on ArcBest from $110.00 to $127.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Bank of America reduced their target price on shares of ArcBest from $102.00 to $99.00 and set an “underperform” rating for the company in a research report on Wednesday, September 4th. Morgan Stanley lowered their price target on shares of ArcBest from $175.00 to $170.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. StockNews.com raised shares of ArcBest from a “hold” rating to a “buy” rating in a research note on Thursday, October 3rd. Finally, The Goldman Sachs Group decreased their target price on shares of ArcBest from $133.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th.

ArcBest Price Performance

Shares of ARCB opened at $108.83 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04. The company’s fifty day moving average price is $107.41 and its 200-day moving average price is $108.19. ArcBest has a 1-year low of $94.76 and a 1-year high of $153.60. The firm has a market capitalization of $2.55 billion, a PE ratio of 13.44, a price-to-earnings-growth ratio of 2.08 and a beta of 1.49.

ArcBest (NASDAQ:ARCB) last posted its earnings results on Friday, November 1st. The transportation company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.20). ArcBest had a net margin of 4.54% and a return on equity of 14.27%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the firm earned $2.31 earnings per share. The company’s revenue for the quarter was down 5.8% on a year-over-year basis. On average, equities research analysts predict that ArcBest will post 6.19 EPS for the current year.

ArcBest Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Wednesday, November 13th. ArcBest’s dividend payout ratio (DPR) is currently 5.93%.

Insider Buying and Selling

In other ArcBest news, Director Craig E. Philip sold 3,900 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $109.91, for a total value of $428,649.00. Following the completion of the sale, the director now owns 23,250 shares of the company’s stock, valued at $2,555,407.50. This trade represents a 14.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $120.60, for a total transaction of $1,259,425.80. Following the sale, the senior vice president now directly owns 5,051 shares of the company’s stock, valued at approximately $609,150.60. The trade was a 67.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.18% of the company’s stock.

Institutional Trading of ArcBest

A number of hedge funds have recently made changes to their positions in ARCB. Quarry LP boosted its position in ArcBest by 120.7% during the 2nd quarter. Quarry LP now owns 245 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 134 shares during the period. Innealta Capital LLC purchased a new position in ArcBest in the second quarter valued at about $33,000. Quest Partners LLC acquired a new stake in shares of ArcBest in the 2nd quarter valued at $36,000. Cultivar Capital Inc. acquired a new stake in shares of ArcBest in the second quarter worth $43,000. Finally, Mather Group LLC. acquired a new stake in shares of ArcBest in the second quarter worth $46,000. Institutional investors and hedge funds own 99.27% of the company’s stock.

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.