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

ArcBest Co. (NASDAQ:ARCB - Get Free Report) has earned a consensus rating of "Hold" from the thirteen analysts that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $124.50.

Several research firms have recently commented on ARCB. StockNews.com raised shares of ArcBest from a "hold" rating to a "buy" rating in a research report on Thursday, October 3rd. Bank of America cut their price objective on ArcBest from $102.00 to $99.00 and set an "underperform" rating on the stock in a research report on Wednesday, September 4th. TD Cowen lowered ArcBest from a "buy" rating to a "hold" rating and decreased their target price for the stock from $131.00 to $114.00 in a research report on Monday, October 14th. Stifel Nicolaus dropped their target price on shares of ArcBest from $131.00 to $119.00 and set a "buy" rating on the stock in a report on Monday, October 21st. Finally, JPMorgan Chase & Co. reduced their price objective on ArcBest from $130.00 to $117.00 and set a "neutral" rating for the company in a research report on Monday, November 4th.

ArcBest Trading Down 0.5 %

Shares of NASDAQ ARCB traded down $0.48 during trading hours on Thursday, hitting $94.11. The company's stock had a trading volume of 149,520 shares, compared to its average volume of 285,394. ArcBest has a 12 month low of $92.32 and a 12 month high of $153.60. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of 11.62, a P/E/G ratio of 2.56 and a beta of 1.49. 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 business has a 50-day simple moving average of $107.24 and a 200-day simple moving average of $108.03.

ArcBest (NASDAQ:ARCB - Get Free Report) last posted its 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 net margin of 4.54% and a return on equity of 14.27%. The business had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.07 billion. During the same period last year, the firm posted $2.31 earnings per share. ArcBest's quarterly revenue was down 5.8% on a year-over-year basis. On average, analysts anticipate that ArcBest will post 6.06 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The firm also recently disclosed 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 payout ratio is 5.93%.

Insider Activity at ArcBest

In other ArcBest news, SVP Michael E. Newcity sold 10,443 shares of the company's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $120.60, for a total value of $1,259,425.80. Following the completion of the sale, the senior vice president now owns 5,051 shares in the company, valued at $609,150.60. This represents a 67.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Craig E. Philip sold 3,900 shares of ArcBest stock in a transaction dated 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 in the company, valued at approximately $2,555,407.50. The trade was a 14.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.18% of the stock is currently owned by company insiders.

Institutional Trading of ArcBest

Large investors have recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of ArcBest by 1.9% in the 3rd quarter. State Street Corp now owns 957,410 shares of the transportation company's stock valued at $103,831,000 after acquiring an additional 17,542 shares during the last quarter. Intech Investment Management LLC raised its position in ArcBest by 92.3% during the third quarter. Intech Investment Management LLC now owns 10,753 shares of the transportation company's stock valued at $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 lifted its stake in shares of ArcBest by 16.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 116,672 shares of the transportation company's stock valued at $12,653,000 after purchasing an additional 16,103 shares during the last quarter. Barclays PLC increased its position in shares of ArcBest by 342.5% during the 3rd quarter. Barclays PLC now owns 43,134 shares of the transportation company's stock valued at $4,678,000 after purchasing an additional 33,386 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in ArcBest by 5.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 414,261 shares of the transportation company's stock valued at $44,927,000 after buying an additional 21,905 shares during the period. 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.