Analysts Set ArcBest Co. (NASDAQ:ARCB) Target Price at $133.18

ArcBest Co. (NASDAQ:ARCB) has earned an average rating of “Hold” from the eleven brokerages that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $133.18.

ARCB has been the topic of several research reports. Morgan Stanley cut their price objective on ArcBest from $180.00 to $176.00 and set an “overweight” rating on the stock in a research note on Monday, July 8th. StockNews.com raised shares of ArcBest from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Wells Fargo & Company cut shares of ArcBest from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $122.00 to $112.00 in a report on Wednesday, September 4th. Stifel Nicolaus decreased their price target on shares of ArcBest from $150.00 to $131.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of ArcBest from $134.00 to $133.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th.

ArcBest Trading Up 4.7 %

Shares of ARCB opened at $115.83 on Tuesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.19 and a current ratio of 1.19. ArcBest has a one year low of $86.93 and a one year high of $153.60. The stock has a 50-day moving average price of $109.95 and a 200 day moving average price of $118.02. The company has a market capitalization of $2.71 billion, a P/E ratio of 23.31, a P/E/G ratio of 1.22 and a beta of 1.46.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings results on Friday, August 2nd. The transportation company reported $1.98 earnings per share for the quarter, missing analysts’ consensus estimates of $2.03 by ($0.05). The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.06 billion. ArcBest had a return on equity of 15.98% and a net margin of 2.96%. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.54 EPS. Sell-side analysts forecast that ArcBest will post 7.21 EPS for the current fiscal year.

ArcBest Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend was Tuesday, August 13th. ArcBest’s dividend payout ratio is currently 9.66%.

Insiders Place Their Bets

In related news, Director Salvatore A. Abbate acquired 1,000 shares of ArcBest stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average price of $103.93 per share, with a total value of $103,930.00. Following the completion of the acquisition, the director now directly owns 3,650 shares of the company’s stock, valued at approximately $379,344.50. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.65% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ArcBest

Several hedge funds have recently modified their holdings of ARCB. Quarry LP raised its holdings in shares of ArcBest by 120.7% in the 2nd quarter. Quarry LP now owns 245 shares of the transportation company’s stock worth $26,000 after purchasing an additional 134 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of ArcBest by 49.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 227 shares of the transportation company’s stock valued at $27,000 after buying an additional 75 shares in the last quarter. Contravisory Investment Management Inc. boosted its stake in shares of ArcBest by 70.9% during the 1st quarter. Contravisory Investment Management Inc. now owns 188 shares of the transportation company’s stock worth $27,000 after acquiring an additional 78 shares in the last quarter. Innealta Capital LLC bought a new stake in shares of ArcBest during the 2nd quarter worth $33,000. Finally, Quest Partners LLC acquired a new position in shares of ArcBest in the 2nd quarter worth $36,000. 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.