ArcBest Co. (NASDAQ:ARCB) Receives $118.91 Average Price Target from Brokerages

ArcBest Co. (NASDAQ:ARCB - Get Free Report) has been assigned a consensus rating of "Hold" from the thirteen ratings firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $108.33.

Several research firms have recently commented on ARCB. 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 research report on Thursday, January 23rd. UBS Group reduced their price target on shares of ArcBest from $110.00 to $100.00 and set a "neutral" rating for the company in a research report on Monday, February 3rd. Bank of America reduced their price target on shares of ArcBest from $100.00 to $73.00 and set an "underperform" rating for the company in a research report on Wednesday. Morgan Stanley reduced their price target on shares of ArcBest from $160.00 to $145.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. Finally, Citigroup reduced their price target on shares of ArcBest from $103.00 to $83.00 and set a "neutral" rating for the company in a research report on Tuesday.

ArcBest Price Performance

Shares of NASDAQ:ARCB traded up $0.32 during trading on Tuesday, reaching $73.35. 377,660 shares of the company's stock traded hands, compared to its average volume of 285,186. ArcBest has a fifty-two week low of $70.96 and a fifty-two week high of $153.61. The company has a quick ratio of 1.04, a current ratio of 1.01 and a debt-to-equity ratio of 0.10. The firm has a market cap of $1.70 billion, a PE ratio of 10.01, a P/E/G ratio of 1.70 and a beta of 1.54. The company has a 50-day simple moving average of $90.45 and a 200-day simple moving average of $100.27.

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ArcBest (NASDAQ:ARCB - Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The transportation company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.22. ArcBest had a return on equity of 11.79% and a net margin of 4.16%. During the same period in the previous year, the business posted $2.47 EPS. As a group, analysts predict that ArcBest will post 7 earnings per share for the current year.

ArcBest Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.48 annualized dividend and a yield of 0.65%. ArcBest's payout ratio is currently 6.55%.

Insider Activity

In other ArcBest news, CFO John Matthew Beasley purchased 700 shares of the stock in a transaction dated Thursday, March 13th. The shares were acquired at an average cost of $74.89 per share, for a total transaction of $52,423.00. Following the completion of the transaction, the chief financial officer now directly owns 8,142 shares of the company's stock, valued at $609,754.38. This trade represents a 9.41 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 1.65% of the company's stock.

Institutional Trading of ArcBest

Several large investors have recently modified their holdings of ARCB. State Street Corp boosted its position in ArcBest by 1.9% during the third quarter. State Street Corp now owns 957,410 shares of the transportation company's stock worth $103,831,000 after acquiring an additional 17,542 shares during the last quarter. JPMorgan Chase & Co. raised its stake in ArcBest by 24.6% during the third quarter. JPMorgan Chase & Co. now owns 221,507 shares of the transportation company's stock worth $24,022,000 after purchasing an additional 43,707 shares during the period. Intech Investment Management LLC raised its stake in ArcBest by 92.3% during the third quarter. Intech Investment Management LLC now owns 10,753 shares of the transportation company's stock worth $1,166,000 after purchasing an additional 5,161 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in ArcBest by 16.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 116,672 shares of the transportation company's stock worth $12,653,000 after purchasing an additional 16,103 shares during the period. Finally, Barclays PLC raised its stake in ArcBest by 342.5% during the third quarter. Barclays PLC now owns 43,134 shares of the transportation company's stock worth $4,678,000 after purchasing an additional 33,386 shares during the period. 99.27% of the stock is currently 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.