ArcBest Co. (NASDAQ:ARCB) Receives $129.33 Average Price Target from Analysts

ArcBest Co. (NASDAQ:ARCB) has been assigned an average rating of “Hold” from the thirteen ratings firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $127.92.

ARCB has been the topic of several research analyst reports. JPMorgan Chase & Co. dropped their price objective on ArcBest from $134.00 to $133.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. TD Cowen cut ArcBest from a “buy” rating to a “hold” rating and cut their price objective for the company from $131.00 to $114.00 in a report on Monday. StockNews.com raised ArcBest from a “hold” rating to a “buy” rating in a research note on Thursday, October 3rd. Stephens reaffirmed an “overweight” rating and issued a $130.00 price target on shares of ArcBest in a research note on Wednesday, September 4th. Finally, Wolfe Research cut shares of ArcBest from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th.

ArcBest Stock Performance

Shares of ARCB stock opened at $106.31 on Friday. The stock has a market cap of $2.49 billion, a PE ratio of 21.39, a price-to-earnings-growth ratio of 1.28 and a beta of 1.46. The stock has a 50-day moving average of $105.58 and a 200-day moving average of $113.87. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.19 and a quick ratio of 1.19. ArcBest has a one year low of $86.93 and a one year high of $153.60.

ArcBest (NASDAQ:ARCB) last issued its earnings results on Friday, August 2nd. The transportation company reported $1.98 EPS for the quarter, missing the consensus estimate of $2.03 by ($0.05). The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.06 billion. ArcBest had a net margin of 2.96% and a return on equity of 15.98%. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.54 EPS. As a group, sell-side analysts expect that ArcBest will post 7.06 earnings per share for the current year.

ArcBest Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $0.48 annualized dividend and a yield of 0.45%. ArcBest’s dividend payout ratio (DPR) is presently 9.66%.

Insider Activity

In related news, Director Salvatore A. Abbate bought 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average price of $103.93 per share, for a total transaction of $103,930.00. Following the completion of the acquisition, the director now owns 3,650 shares of the company’s stock, valued at approximately $379,344.50. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.65% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ArcBest

A number of institutional investors have recently added to or reduced their stakes in ARCB. Westwood Holdings Group Inc. grew its position in shares of ArcBest by 34.7% in the 2nd quarter. Westwood Holdings Group Inc. now owns 583,762 shares of the transportation company’s stock valued at $62,509,000 after acquiring an additional 150,467 shares during the period. Marshall Wace LLP increased its position in ArcBest by 158.7% during the second 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 last quarter. Emerald Advisers LLC bought a new stake in ArcBest in the second quarter valued at approximately $6,812,000. Mutual of America Capital Management LLC raised its stake in ArcBest by 1,455.0% in the second quarter. Mutual of America Capital Management LLC now owns 63,399 shares of the transportation company’s stock valued at $6,789,000 after buying an additional 59,322 shares during the period. Finally, Zimmer Partners LP acquired a new stake in shares of ArcBest in the first quarter valued at approximately $7,838,000. 99.27% of the stock is currently owned by institutional investors and hedge funds.

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.