Brokerages Set ArcBest Co. (NASDAQ:ARCB) PT at $124.50

Shares of ArcBest Co. (NASDAQ:ARCB) have received a consensus recommendation of “Hold” from the thirteen analysts that are currently covering the firm, Marketbeat Ratings reports. One equities research 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.

ARCB has been the topic of a number of research reports. Wells Fargo & Company dropped their target price on shares of ArcBest from $112.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Monday, November 4th. Jefferies Financial Group decreased their price target on shares of ArcBest from $140.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. Citigroup upped their price objective on ArcBest from $110.00 to $127.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Stephens restated an “overweight” rating and issued a $130.00 target price 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 research report on Wednesday, October 9th.

ArcBest Trading Up 0.3 %

NASDAQ:ARCB opened at $93.32 on Thursday. The company’s 50 day moving average is $106.34 and its 200-day moving average is $107.50. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.09. ArcBest has a 12 month low of $91.01 and a 12 month high of $153.60. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 11.52, a P/E/G ratio of 2.56 and a beta of 1.49.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings data on Friday, November 1st. The transportation company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.84 by ($0.20). The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.07 billion. ArcBest had a return on equity of 14.27% and a net margin of 4.54%. ArcBest’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.31 EPS. Equities analysts anticipate that ArcBest will post 6.06 EPS for the current year.

ArcBest Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date was Wednesday, November 13th. ArcBest’s dividend payout ratio is currently 5.93%.

Insider Buying and Selling

In other ArcBest news, Director Craig E. Philip sold 3,900 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $109.91, for a total value of $428,649.00. Following the transaction, the director now directly owns 23,250 shares of the company’s stock, valued at approximately $2,555,407.50. This trade represents a 14.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael E. Newcity sold 10,443 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $120.60, for a total transaction of $1,259,425.80. Following the sale, the senior vice president now owns 5,051 shares of the company’s stock, valued at $609,150.60. The trade was a 67.40 % decrease in their position. The disclosure for this sale can be found here. 1.65% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ArcBest

A number of institutional investors have recently made changes to their positions in ARCB. Quarry LP lifted its stake in ArcBest by 120.7% in the second quarter. Quarry LP now owns 245 shares of the transportation company’s stock valued at $26,000 after buying an additional 134 shares during the period. Innealta Capital LLC acquired a new stake in shares of ArcBest in the 2nd quarter valued at approximately $33,000. Quest Partners LLC bought a new position in ArcBest during the 2nd quarter worth approximately $36,000. GAMMA Investing LLC grew its holdings in ArcBest by 63.7% during the third quarter. GAMMA Investing LLC now owns 514 shares of the transportation company’s stock valued at $56,000 after purchasing an additional 200 shares during the period. Finally, Avior Wealth Management LLC increased its stake in ArcBest by 17.9% in the third quarter. Avior Wealth Management LLC now owns 625 shares of the transportation company’s stock valued at $68,000 after purchasing an additional 95 shares in the last quarter. 99.27% of the stock is 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.