Brokerages Set ArcBest Co. (NASDAQ:ARCB) Target Price at $123.67

Shares of ArcBest Co. (NASDAQ:ARCB) have been given an average recommendation of “Hold” by the thirteen analysts that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $123.67.

A number of equities analysts have recently commented on the company. Wells Fargo & Company lowered their price target on ArcBest from $115.00 to $105.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. TD Cowen cut ArcBest from a “buy” rating to a “hold” rating and lowered their target price for the stock from $131.00 to $114.00 in a report on Monday, October 14th. Morgan Stanley lowered their target price on ArcBest from $175.00 to $170.00 and set an “overweight” rating for the company in a report on Monday, November 4th. StockNews.com raised ArcBest from a “hold” rating to a “buy” rating in a report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. lowered their target price on ArcBest from $130.00 to $117.00 and set a “neutral” rating for the company in a report on Monday, November 4th.

Insider Buying and Selling at ArcBest

In related news, Director Craig E. Philip sold 3,900 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $109.91, for a total transaction of $428,649.00. Following the sale, the director now owns 23,250 shares in the company, valued at $2,555,407.50. This represents a 14.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michael E. Newcity sold 10,443 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $120.60, for a total value of $1,259,425.80. Following the sale, the senior vice president now owns 5,051 shares in the company, valued at approximately $609,150.60. The trade was a 67.40 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.18% of the company’s stock.

Institutional Investors Weigh In On ArcBest

Institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp raised its stake in ArcBest by 1.9% during the 3rd quarter. State Street Corp now owns 957,410 shares of the transportation company’s stock worth $103,831,000 after buying an additional 17,542 shares during the period. Geode Capital Management LLC raised its stake in ArcBest by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 551,821 shares of the transportation company’s stock worth $59,856,000 after buying an additional 3,475 shares during the period. Charles Schwab Investment Management Inc. raised its stake in ArcBest by 5.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 414,261 shares of the transportation company’s stock worth $44,927,000 after buying an additional 21,905 shares during the period. JPMorgan Chase & Co. raised its stake in ArcBest by 24.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 221,507 shares of the transportation company’s stock worth $24,022,000 after buying an additional 43,707 shares during the period. Finally, Marshall Wace LLP raised its stake in ArcBest by 158.7% during the 2nd quarter. Marshall Wace LLP now owns 191,987 shares of the transportation company’s stock worth $20,558,000 after buying an additional 117,774 shares during the period. Institutional investors own 99.27% of the company’s stock.

ArcBest Price Performance

ArcBest stock opened at $98.47 on Monday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04. ArcBest has a 52 week low of $91.01 and a 52 week high of $153.60. The stock has a market capitalization of $2.30 billion, a P/E ratio of 12.16, a price-to-earnings-growth ratio of 1.86 and a beta of 1.53. The stock has a fifty day moving average of $102.87 and a 200-day moving average of $106.49.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings results on Friday, November 1st. The transportation company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.20). ArcBest had a return on equity of 14.27% and a net margin of 4.54%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the firm posted $2.31 EPS. ArcBest’s quarterly revenue was down 5.8% on a year-over-year basis. On average, sell-side analysts expect that ArcBest will post 6.02 earnings per share 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 given a $0.12 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.49%. ArcBest’s dividend payout ratio (DPR) is presently 5.93%.

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.