Brokerages Set ArcBest Co. (NASDAQ:ARCB) Price Target at $145.00

ArcBest Co. (NASDAQ:ARCB) has been assigned a consensus rating of “Moderate Buy” from the thirteen research firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $143.69.

Several equities analysts recently issued reports on the company. Wells Fargo & Company began coverage on ArcBest in a report on Friday, June 7th. They set an “overweight” rating and a $140.00 price objective for the company. Morgan Stanley cut their price target on ArcBest from $180.00 to $176.00 and set an “overweight” rating for the company in a report on Monday. Bank of America cut their price target on ArcBest from $143.00 to $110.00 and set an “underperform” rating for the company in a report on Wednesday, May 1st. The Goldman Sachs Group boosted their price target on ArcBest from $133.00 to $149.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Finally, Stifel Nicolaus cut their price target on ArcBest from $159.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, May 15th.

Institutional Investors Weigh In On ArcBest

A number of institutional investors have recently added to or reduced their stakes in ARCB. Wellington Management Group LLP purchased a new stake in ArcBest during the third quarter valued at about $10,561,000. Norges Bank purchased a new stake in shares of ArcBest in the fourth quarter worth about $9,298,000. Zimmer Partners LP purchased a new stake in shares of ArcBest in the first quarter worth about $7,838,000. Kennedy Capital Management LLC purchased a new stake in shares of ArcBest in the third quarter worth about $3,793,000. Finally, American Century Companies Inc. boosted its position in shares of ArcBest by 10.5% in the third quarter. American Century Companies Inc. now owns 378,206 shares of the transportation company’s stock worth $38,445,000 after buying an additional 35,968 shares during the period. Hedge funds and other institutional investors own 99.27% of the company’s stock.

ArcBest Stock Performance

Shares of ARCB stock opened at $107.22 on Thursday. The stock has a fifty day moving average price of $108.85 and a 200 day moving average price of $124.36. The stock has a market cap of $2.51 billion, a PE ratio of 21.57, a P/E/G ratio of 0.84 and a beta of 1.48. ArcBest has a 1 year low of $86.93 and a 1 year high of $153.60. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.23 and a current ratio of 1.23.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings data on Tuesday, April 30th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.19). The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. ArcBest had a return on equity of 15.27% and a net margin of 2.80%. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.58 earnings per share. Sell-side analysts forecast that ArcBest will post 8.54 earnings per share for the current fiscal year.

ArcBest Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend was Thursday, May 9th. ArcBest’s dividend payout ratio (DPR) is presently 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.