ArcBest Co. (NASDAQ:ARCB) Receives $133.18 Average PT from Analysts

ArcBest Co. (NASDAQ:ARCB) has been assigned a consensus rating of “Hold” from the eleven research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $133.18.

ARCB has been the topic of several research analyst reports. Stephens reissued an “overweight” rating and set a $130.00 target price on shares of ArcBest in a research report on Wednesday, September 4th. TD Cowen cut their target price on ArcBest from $136.00 to $131.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. JPMorgan Chase & Co. reduced their target price on ArcBest from $134.00 to $133.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. StockNews.com upgraded ArcBest from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. Finally, Wells Fargo & Company downgraded ArcBest from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $122.00 to $112.00 in a report on Wednesday, September 4th.

Insider Activity at ArcBest

In other news, Director Salvatore A. Abbate purchased 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average price of $103.93 per share, for a total transaction of $103,930.00. Following the completion of the transaction, the director now owns 3,650 shares in the company, valued at $379,344.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.65% of the company’s stock.

Institutional Trading of ArcBest

Several institutional investors have recently modified their holdings of ARCB. Westwood Holdings Group Inc. boosted its position in 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 acquiring an additional 150,467 shares during the last quarter. American Century Companies Inc. raised its stake in 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 during the period. Marshall Wace LLP boosted its holdings in ArcBest by 158.7% in the 2nd quarter. Marshall Wace LLP now owns 191,987 shares of the transportation company’s stock valued at $20,558,000 after purchasing an additional 117,774 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of ArcBest by 9.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 165,175 shares of the transportation company’s stock worth $23,537,000 after buying an additional 14,463 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of ArcBest by 20.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 154,972 shares of the transportation company’s stock valued at $18,629,000 after buying an additional 26,411 shares during the period. Institutional investors and hedge funds own 99.27% of the company’s stock.

ArcBest Stock Up 1.0 %

ArcBest stock opened at $110.93 on Tuesday. ArcBest has a 1-year low of $86.93 and a 1-year high of $153.60. The business has a fifty day moving average price of $109.71 and a 200-day moving average price of $117.24. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.19 and a quick ratio of 1.19. The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of 22.32, a PEG ratio of 1.22 and a beta of 1.46.

ArcBest (NASDAQ:ARCB) last issued its quarterly 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). ArcBest had a return on equity of 15.98% and a net margin of 2.96%. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the business posted $1.54 EPS. ArcBest’s revenue was down 2.4% compared to the same quarter last year. Equities research analysts forecast that ArcBest will post 7.21 EPS for the current fiscal year.

ArcBest Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were paid a dividend of $0.12 per share. The ex-dividend date was Tuesday, August 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.43%. 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.