ArcBest Co. (NASDAQ:ARCB) Given Consensus Recommendation of “Hold” by Brokerages

ArcBest Co. (NASDAQ:ARCB) has earned a consensus rating of “Hold” from the thirteen analysts that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $124.50.

Several brokerages have recently issued reports on ARCB. Wells Fargo & Company lowered their price target on ArcBest from $112.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Monday, November 4th. Morgan Stanley lowered their target price on ArcBest from $175.00 to $170.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Wolfe Research lowered ArcBest from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. UBS Group reduced their price objective on ArcBest from $111.00 to $110.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Finally, StockNews.com raised shares of ArcBest from a “hold” rating to a “buy” rating in a research report on Thursday, October 3rd.

Insider Activity at ArcBest

In other ArcBest news, SVP Michael E. Newcity sold 10,443 shares of the 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 transaction, the senior vice president now owns 5,051 shares of the company’s stock, valued at approximately $609,150.60. This represents a 67.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Craig E. Philip sold 3,900 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $109.91, for a total value of $428,649.00. Following the transaction, 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. 1.18% of the stock is owned by company insiders.

Hedge Funds Weigh In On ArcBest

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of ArcBest by 4.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,149 shares of the transportation company’s stock worth $551,000 after purchasing an additional 239 shares during the period. Panagora Asset Management Inc. raised its holdings in ArcBest by 7.7% during the 2nd quarter. Panagora Asset Management Inc. now owns 24,398 shares of the transportation company’s stock worth $2,613,000 after buying an additional 1,738 shares during the period. Innealta Capital LLC bought a new position in ArcBest in the second quarter valued at approximately $33,000. Versor Investments LP acquired a new position in shares of ArcBest in the second quarter valued at approximately $447,000. Finally, Emerald Mutual Fund Advisers Trust bought a new stake in shares of ArcBest during the second quarter worth $5,630,000. 99.27% of the stock is owned by institutional investors.

ArcBest Stock Performance

Shares of ARCB stock opened at $94.59 on Thursday. The firm has a market cap of $2.21 billion, a P/E ratio of 11.68, a PEG ratio of 2.56 and a beta of 1.49. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04. ArcBest has a fifty-two week low of $92.32 and a fifty-two week high of $153.60. The stock’s 50-day moving average is $107.47 and its two-hundred day moving average is $108.13.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings results on Friday, November 1st. The transportation company reported $1.64 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 business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the company earned $2.31 EPS. The business’s revenue for the quarter was down 5.8% compared to the same quarter last year. Analysts predict that ArcBest will post 6.06 earnings per share for the current fiscal year.

ArcBest Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were given a $0.12 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $0.48 dividend on an annualized basis and a yield of 0.51%. ArcBest’s payout ratio is 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.