ArcBest Co. (NASDAQ:ARCB) Given Average Recommendation of “Hold” by Analysts

ArcBest Co. (NASDAQ:ARCB) has earned a consensus rating of “Hold” from the thirteen ratings firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $124.50.

A number of equities analysts have 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 on the stock in a research note on Monday, November 4th. Wells Fargo & Company cut their price target on ArcBest from $112.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Monday, November 4th. Jefferies Financial Group lowered their price objective on ArcBest from $140.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, October 10th. StockNews.com raised ArcBest from a “hold” rating to a “buy” rating in a research report on Thursday, October 3rd. Finally, Citigroup raised their price target on shares of ArcBest from $110.00 to $127.00 and gave the stock a “neutral” rating in a research report on Tuesday.

ArcBest Stock Performance

NASDAQ ARCB opened at $116.91 on Wednesday. The business’s 50-day moving average price is $105.69 and its 200 day moving average price is $108.75. The company has a current ratio of 1.04, a quick ratio of 1.19 and a debt-to-equity ratio of 0.09. ArcBest has a twelve month low of $94.76 and a twelve month high of $153.60. The company has a market capitalization of $2.74 billion, a PE ratio of 14.43, a price-to-earnings-growth ratio of 2.93 and a beta of 1.47.

ArcBest (NASDAQ:ARCB) last issued its earnings results on Friday, November 1st. The transportation company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.20). The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.07 billion. ArcBest had a net margin of 4.54% and a return on equity of 14.27%. ArcBest’s revenue was down 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.31 EPS. On average, research analysts predict that ArcBest will post 6.19 earnings per share for the current year.

ArcBest Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend is Wednesday, November 13th. ArcBest’s dividend payout ratio is presently 5.93%.

Insider Transactions at ArcBest

In related news, SVP Michael E. Newcity sold 10,443 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $120.60, for a total transaction of $1,259,425.80. Following the completion of the transaction, the senior vice president now owns 5,051 shares in the company, valued at $609,150.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.65% of the company’s stock.

Institutional Trading of ArcBest

Hedge funds have recently bought and sold shares of the company. Quarry LP boosted its position in shares of ArcBest by 120.7% during the second quarter. Quarry LP now owns 245 shares of the transportation company’s stock worth $26,000 after buying an additional 134 shares during the period. Innealta Capital LLC bought a new position in shares of ArcBest in the second quarter worth $33,000. Quest Partners LLC acquired a new position in shares of ArcBest during the second quarter valued at $36,000. Cultivar Capital Inc. bought a new stake in shares of ArcBest during the second quarter valued at about $43,000. Finally, Mather Group LLC. acquired a new stake in ArcBest in the second quarter worth about $46,000. 99.27% of the stock is currently owned by institutional investors.

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.