ArcBest Co. (NASDAQ:ARCB) Given Consensus Recommendation of “Hold” by Brokerages

Shares of ArcBest Co. (NASDAQ:ARCB) have been given an average recommendation of “Hold” by the thirteen ratings firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $125.00.

Several research analysts have weighed in on ARCB shares. Morgan Stanley dropped their price target on ArcBest from $175.00 to $170.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. UBS Group dropped their target price on shares of ArcBest from $111.00 to $110.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Stifel Nicolaus lifted their price target on shares of ArcBest from $109.00 to $125.00 and gave the company a “buy” rating in a report on Thursday. Wolfe Research downgraded shares of ArcBest from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. Finally, Citigroup lifted their target price on ArcBest from $110.00 to $127.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th.

ArcBest Stock Down 1.7 %

ARCB opened at $98.49 on Monday. The stock has a market cap of $2.30 billion, a price-to-earnings ratio of 12.16, a price-to-earnings-growth ratio of 1.83 and a beta of 1.53. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04. The firm’s fifty day moving average is $102.45 and its 200 day moving average is $106.38. ArcBest has a fifty-two week low of $91.01 and a fifty-two week high of $153.60.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings data on Friday, November 1st. The transportation company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.84 by ($0.20). ArcBest had a net margin of 4.54% and a return on equity of 14.27%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter 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. On average, sell-side analysts forecast that ArcBest will post 6.02 earnings per share for the current fiscal year.

ArcBest Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders 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 0.49%. The ex-dividend date was Wednesday, November 13th. ArcBest’s dividend payout ratio (DPR) is 5.93%.

Insider Activity at ArcBest

In other ArcBest news, SVP Michael E. Newcity sold 10,443 shares of the business’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 transaction, the senior vice president now owns 5,051 shares in the company, valued at $609,150.60. The trade was a 67.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Craig E. Philip sold 3,900 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $109.91, for a total transaction of $428,649.00. Following the completion of the sale, the director now owns 23,250 shares of the company’s stock, valued at $2,555,407.50. This trade represents a 14.36 % decrease in their position. The disclosure for this sale can be found here. 1.65% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Quarry LP lifted its stake in shares of ArcBest by 120.7% during the 2nd quarter. Quarry LP now owns 245 shares of the transportation company’s stock worth $26,000 after acquiring an additional 134 shares during the last quarter. Blue Trust Inc. lifted its position in shares of ArcBest by 146.3% during the fourth quarter. Blue Trust Inc. now owns 298 shares of the transportation company’s stock worth $28,000 after purchasing an additional 177 shares during the last quarter. R Squared Ltd bought a new stake in shares of ArcBest during the fourth quarter worth $40,000. GAMMA Investing LLC boosted its stake in shares of 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, Quest Partners LLC grew its holdings in shares of ArcBest by 60.6% in the third quarter. Quest Partners LLC now owns 546 shares of the transportation company’s stock worth $59,000 after purchasing an additional 206 shares during the last quarter. Institutional investors own 99.27% of the company’s stock.

About ArcBest

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.