ArcBest Co. (NASDAQ:ARCB) Receives Consensus Rating of “Hold” from Analysts

Shares of ArcBest Co. (NASDAQ:ARCB) have been given an average recommendation of “Hold” by the thirteen research firms that are covering the stock, Marketbeat reports. One equities 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 brokers that have issued a report on the stock in the last year is $124.50.

Several brokerages recently commented on ARCB. Jefferies Financial Group reduced 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. Wells Fargo & Company cut their price objective on ArcBest from $112.00 to $105.00 and set an “equal weight” rating for the company in a report on Monday, November 4th. UBS Group lowered their target price on shares of ArcBest from $111.00 to $110.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Citigroup upped their price target on shares of ArcBest from $110.00 to $127.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Finally, StockNews.com raised shares of ArcBest from a “hold” rating to a “buy” rating in a research report on Thursday, October 3rd.

ArcBest Stock Performance

Shares of ARCB stock opened at $94.59 on Thursday. ArcBest has a 12 month low of $92.32 and a 12 month high of $153.60. The company’s fifty day simple moving average is $107.47 and its 200-day simple moving average is $108.13. The firm has a market cap of $2.21 billion, a PE ratio of 11.68, a P/E/G ratio of 2.56 and a beta of 1.49. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.09.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings results on Friday, November 1st. The transportation company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.84 by ($0.20). The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.07 billion. ArcBest had a return on equity of 14.27% and a net margin of 4.54%. The company’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same period last year, the firm earned $2.31 earnings per share. Equities research analysts expect that ArcBest will post 6.06 EPS for the current fiscal year.

ArcBest Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were issued a $0.12 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $0.48 annualized dividend and a yield of 0.51%. ArcBest’s dividend payout ratio is currently 5.93%.

Insiders Place Their Bets

In other ArcBest news, Director Craig E. Philip sold 3,900 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $109.91, for a total value of $428,649.00. Following the transaction, the director now directly owns 23,250 shares of the company’s stock, valued at $2,555,407.50. This represents a 14.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Michael E. Newcity sold 10,443 shares of the 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 owns 5,051 shares in the company, valued at $609,150.60. The trade was a 67.40 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.18% of the company’s stock.

Institutional Trading of ArcBest

A number of institutional investors have recently bought and sold shares of the business. State Street Corp lifted its position in shares of ArcBest by 1.9% during the 3rd quarter. State Street Corp now owns 957,410 shares of the transportation company’s stock valued at $103,831,000 after acquiring an additional 17,542 shares during the period. Intech Investment Management LLC raised its stake in ArcBest by 92.3% in the third quarter. Intech Investment Management LLC now owns 10,753 shares of the transportation company’s stock valued at $1,166,000 after purchasing an additional 5,161 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in ArcBest by 16.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 116,672 shares of the transportation company’s stock worth $12,653,000 after purchasing an additional 16,103 shares during the period. Barclays PLC grew its stake in ArcBest by 342.5% during the third quarter. Barclays PLC now owns 43,134 shares of the transportation company’s stock worth $4,678,000 after buying an additional 33,386 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in ArcBest by 5.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 414,261 shares of the transportation company’s stock valued at $44,927,000 after buying an additional 21,905 shares during the period. Institutional investors own 99.27% of the company’s stock.

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.