Brokerages Set ArcBest Co. (NASDAQ:ARCB) Price Target at $123.17

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

Several analysts recently commented on ARCB shares. UBS Group cut their target price on shares of ArcBest from $111.00 to $110.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. The Goldman Sachs Group reduced their price objective on ArcBest from $133.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Bank of America cut their target price on ArcBest from $102.00 to $99.00 and set an “underperform” rating on the stock in a research report on Wednesday, September 4th. Jefferies Financial Group decreased 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. Finally, Wolfe Research lowered shares of ArcBest from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th.

Insider Transactions at ArcBest

In related news, SVP Michael E. Newcity sold 10,443 shares of the stock in a transaction that occurred 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 approximately $609,150.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.65% of the company’s stock.

Institutional Trading of ArcBest

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. UniSuper Management Pty Ltd bought a new position in shares of ArcBest in the 1st quarter valued at approximately $666,000. Inspire Investing LLC boosted its holdings in shares of ArcBest by 39.6% during the 1st quarter. Inspire Investing LLC now owns 15,002 shares of the transportation company’s stock worth $2,138,000 after buying an additional 4,258 shares during the period. Price T Rowe Associates Inc. MD grew its stake in ArcBest by 54.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,660 shares of the transportation company’s stock valued at $2,945,000 after buying an additional 7,291 shares during the last quarter. Kennedy Capital Management LLC raised its holdings in ArcBest by 235.3% in the 1st quarter. Kennedy Capital Management LLC now owns 33,482 shares of the transportation company’s stock worth $4,771,000 after acquiring an additional 23,497 shares during the period. Finally, Impala Asset Management LLC acquired a new position in ArcBest during the 2nd quarter worth $2,409,000. Institutional investors and hedge funds own 99.27% of the company’s stock.

ArcBest Stock Performance

Shares of NASDAQ ARCB opened at $116.91 on Wednesday. ArcBest has a 1 year low of $94.76 and a 1 year high of $153.60. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.19 and a current ratio of 1.04. The stock has a fifty day moving average price of $105.69 and a two-hundred day moving average price of $108.75. The firm has a market cap of $2.74 billion, a P/E ratio of 14.43, a PEG ratio of 2.93 and a beta of 1.47.

ArcBest (NASDAQ:ARCB) last released 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 return on equity of 14.27% and a net margin of 4.54%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the firm earned $2.31 earnings per share. ArcBest’s revenue was down 5.8% on a year-over-year basis. Research analysts forecast that ArcBest will post 6.19 EPS for the current fiscal year.

ArcBest Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be issued a dividend of $0.12 per share. The ex-dividend date is Wednesday, November 13th. This represents a $0.48 annualized dividend and a dividend yield of 0.41%. ArcBest’s dividend payout ratio is 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.