ArcBest Co. (NASDAQ:ARCB) Receives Consensus Rating of “Hold” from Brokerages

Shares of ArcBest Co. (NASDAQ:ARCB) have been given an average rating of “Hold” by the thirteen analysts that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $124.50.

A number of brokerages have issued reports on ARCB. Stephens restated an “overweight” rating and set a $130.00 price objective on shares of ArcBest in a research report on Wednesday, September 4th. StockNews.com upgraded ArcBest from a “hold” rating to a “buy” rating in a research report on Thursday, October 3rd. Wells Fargo & Company cut their price objective on shares of ArcBest from $112.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Monday, November 4th. Stifel Nicolaus dropped their price target on shares of ArcBest from $131.00 to $119.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Finally, Wolfe Research downgraded shares of ArcBest from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th.

Insider Transactions at ArcBest

In other news, SVP Michael E. Newcity sold 10,443 shares of ArcBest stock in a transaction on 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 transaction, the senior vice president now directly owns 5,051 shares in the company, valued at approximately $609,150.60. This trade represents a 67.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Craig E. Philip sold 3,900 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $109.91, for a total value of $428,649.00. Following the sale, the director now owns 23,250 shares of the company’s stock, valued at $2,555,407.50. This trade represents a 14.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.65% of the company’s stock.

Hedge Funds Weigh In On ArcBest

Large investors have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC grew its position in shares of ArcBest by 5.4% in the 3rd quarter. Sanctuary Advisors LLC now owns 4,123 shares of the transportation company’s stock worth $453,000 after buying an additional 213 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of ArcBest during the 3rd quarter valued at $485,000. Geode Capital Management LLC grew its stake in ArcBest by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 551,821 shares of the transportation company’s stock worth $59,856,000 after buying an additional 3,475 shares during the last quarter. Impala Asset Management LLC increased its position in ArcBest by 51.1% during the 3rd quarter. Impala Asset Management LLC now owns 34,000 shares of the transportation company’s stock valued at $3,687,000 after buying an additional 11,500 shares in the last quarter. Finally, Barclays PLC boosted its holdings in ArcBest by 342.5% in the third quarter. Barclays PLC now owns 43,134 shares of the transportation company’s stock worth $4,678,000 after acquiring an additional 33,386 shares in the last quarter. 99.27% of the stock is currently owned by institutional investors.

ArcBest Price Performance

Shares of ArcBest stock opened at $115.28 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.09. ArcBest has a 12 month low of $94.76 and a 12 month high of $153.60. The stock has a 50 day moving average of $107.49 and a 200 day moving average of $108.32. The firm has a market cap of $2.70 billion, a PE ratio of 14.23, a PEG ratio of 2.13 and a beta of 1.47.

ArcBest (NASDAQ:ARCB) last posted its earnings results on Friday, November 1st. The transportation company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.20). The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.07 billion. ArcBest had a net margin of 4.54% and a return on equity of 14.27%. The company’s revenue for the quarter was down 5.8% compared to the same quarter last year. During the same period last year, the business posted $2.31 earnings per share. On average, research analysts expect that ArcBest will post 6.19 EPS for the current fiscal year.

ArcBest Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend was Wednesday, November 13th. ArcBest’s dividend payout ratio (DPR) is presently 5.93%.

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.