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

Shares of ArcBest Co. (NASDAQ:ARCB - Get Free Report) have earned an average rating of "Hold" from the thirteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $102.67.

Several equities research analysts have recently weighed in on ARCB shares. Truist Financial assumed coverage on ArcBest in a research note on Thursday, March 13th. They issued a "buy" rating and a $93.00 price target for the company. Bank of America decreased their target price on shares of ArcBest from $100.00 to $73.00 and set an "underperform" rating for the company in a research report on Wednesday, March 12th. Wells Fargo & Company dropped their price target on shares of ArcBest from $96.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 27th. Stephens reiterated an "overweight" rating and set a $116.00 price objective on shares of ArcBest in a research report on Tuesday, March 11th. Finally, UBS Group dropped their target price on shares of ArcBest from $110.00 to $100.00 and set a "neutral" rating on the stock in a report on Monday, February 3rd.

Insider Activity

In other ArcBest news, CFO John Matthew Beasley bought 700 shares of the firm's stock in a transaction dated Thursday, March 13th. The stock was bought at an average cost of $74.89 per share, with a total value of $52,423.00. Following the completion of the transaction, the chief financial officer now directly owns 8,142 shares in the company, valued at approximately $609,754.38. The trade was a 9.41 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.28% of the company's stock.

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Institutional Trading of ArcBest

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARCB. Arizona State Retirement System grew its holdings in ArcBest by 1.6% during the fourth quarter. Arizona State Retirement System now owns 6,856 shares of the transportation company's stock worth $640,000 after buying an additional 108 shares in the last quarter. Summit Investment Advisors Inc. boosted its holdings in ArcBest by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,463 shares of the transportation company's stock worth $230,000 after acquiring an additional 157 shares during the last quarter. Stephens Inc. AR grew its stake in shares of ArcBest by 2.1% in the 4th quarter. Stephens Inc. AR now owns 8,128 shares of the transportation company's stock worth $758,000 after acquiring an additional 170 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of ArcBest by 146.3% in the fourth quarter. Blue Trust Inc. now owns 298 shares of the transportation company's stock valued at $28,000 after purchasing an additional 177 shares during the last quarter. Finally, Sanctuary Advisors LLC lifted its position in shares of ArcBest by 5.4% during the third quarter. Sanctuary Advisors LLC now owns 4,123 shares of the transportation company's stock valued at $453,000 after purchasing an additional 213 shares in the last quarter. 99.27% of the stock is owned by institutional investors.

ArcBest Trading Up 20.4 %

NASDAQ:ARCB traded up $12.17 during mid-day trading on Friday, hitting $71.76. 1,194,583 shares of the company's stock were exchanged, compared to its average volume of 298,726. ArcBest has a fifty-two week low of $57.80 and a fifty-two week high of $152.35. The company has a current ratio of 1.01, a quick ratio of 1.04 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $1.66 billion, a P/E ratio of 9.79, a PEG ratio of 1.70 and a beta of 1.62. The company has a 50 day simple moving average of $79.71 and a 200-day simple moving average of $95.57.

ArcBest (NASDAQ:ARCB - Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The transportation company reported $1.33 EPS for the quarter, topping analysts' consensus estimates of $1.11 by $0.22. ArcBest had a net margin of 4.16% and a return on equity of 11.79%. During the same quarter last year, the firm earned $2.47 EPS. As a group, research analysts expect that ArcBest will post 7 earnings per share for the current year.

ArcBest Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were paid a $0.12 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $0.48 dividend on an annualized basis and a yield of 0.67%. ArcBest's dividend payout ratio (DPR) is presently 6.55%.

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.