ArcBest Co. (NASDAQ:ARCB) Given Average Rating of "Hold" by Brokerages

Shares of ArcBest Co. (NASDAQ:ARCB - Get Free Report) have been given a consensus rating of "Hold" by the thirteen research firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $123.67.

A number of analysts recently weighed in on the company. UBS Group decreased their price target on ArcBest from $111.00 to $110.00 and set a "neutral" rating on the stock in a research note on Monday, November 4th. Jefferies Financial Group decreased their target price on shares of ArcBest from $140.00 to $130.00 and set a "buy" rating on the stock in a research report on Thursday, October 10th. The Goldman Sachs Group cut their price target on shares of ArcBest from $133.00 to $125.00 and set a "neutral" rating for the company in a report on Wednesday, October 9th. StockNews.com raised shares of ArcBest from a "hold" rating to a "buy" rating in a report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. dropped their target price on shares of ArcBest from $130.00 to $117.00 and set a "neutral" rating for the company in a report on Monday, November 4th.

ArcBest Stock Performance

ArcBest stock traded down $1.74 during trading hours on Monday, reaching $100.19. 205,703 shares of the stock were exchanged, compared to its average volume of 234,633. ArcBest has a 52-week low of $91.01 and a 52-week high of $153.60. The stock has a market cap of $2.34 billion, a P/E ratio of 12.37, a P/E/G ratio of 1.61 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 50 day moving average is $103.50 and its 200 day moving average is $106.60.

ArcBest (NASDAQ:ARCB - Get Free Report) last posted its quarterly earnings results on Friday, November 1st. The transportation company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.20). ArcBest had a return on equity of 14.27% and a net margin of 4.54%. The firm had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.07 billion. During the same period in the prior year, the company earned $2.31 earnings per share. The company's revenue for the quarter was down 5.8% on a year-over-year basis. Analysts predict that ArcBest will post 6.03 EPS for the current fiscal year.

ArcBest Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.48%. The ex-dividend date was Wednesday, November 13th. ArcBest's payout ratio is 5.93%.

Insider Activity

In other news, SVP Michael E. Newcity sold 10,443 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $120.60, for a total value of $1,259,425.80. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Craig E. Philip sold 3,900 shares of the firm's stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $109.91, for a total transaction of $428,649.00. Following the sale, the director now owns 23,250 shares in the company, valued at approximately $2,555,407.50. This trade represents a 14.36 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.65% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Quarry LP increased 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 valued at $26,000 after acquiring an additional 134 shares during the last quarter. GAMMA Investing LLC increased its position in ArcBest by 63.7% during the third quarter. GAMMA Investing LLC now owns 514 shares of the transportation company's stock worth $56,000 after purchasing an additional 200 shares during the last quarter. Quest Partners LLC raised its stake in ArcBest by 60.6% during 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 period. Avior Wealth Management LLC boosted its holdings in shares of ArcBest by 17.9% in the 3rd 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 during the last quarter. Finally, KBC Group NV grew its stake in shares of ArcBest by 36.8% during the 3rd quarter. KBC Group NV now owns 851 shares of the transportation company's stock valued at $92,000 after buying an additional 229 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.