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

Shares of ArcBest Co. (NASDAQ:ARCB) have received an average rating of “Hold” from the thirteen analysts that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $123.67.

ARCB has been the topic of a number of research reports. Jefferies Financial Group dropped their price target on ArcBest from $140.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. Wells Fargo & Company lowered their target price on ArcBest from $115.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Citigroup lifted their target price on ArcBest from $110.00 to $127.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. StockNews.com upgraded ArcBest from a “hold” rating to a “buy” rating in a research note on Thursday, October 3rd. Finally, Morgan Stanley lowered their target price on ArcBest from $175.00 to $170.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th.

Insider Transactions at ArcBest

In related news, Director Craig E. Philip sold 3,900 shares of the firm’s stock in a transaction that occurred 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 directly owns 23,250 shares in the company, valued at $2,555,407.50. This trade represents a 14.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael E. Newcity sold 10,443 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 approximately $609,150.60. This represents a 67.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.18% of the company’s stock.

Institutional Investors Weigh In On ArcBest

Several large investors have recently modified their holdings of ARCB. Quarry LP boosted its position in ArcBest by 120.7% during the second quarter. Quarry LP now owns 245 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 134 shares during the last quarter. GAMMA Investing LLC boosted its position in ArcBest by 63.7% during the third quarter. GAMMA Investing LLC now owns 514 shares of the transportation company’s stock valued at $56,000 after purchasing an additional 200 shares during the last quarter. Quest Partners LLC boosted its position in ArcBest by 60.6% during the third quarter. Quest Partners LLC now owns 546 shares of the transportation company’s stock valued at $59,000 after purchasing an additional 206 shares during the last quarter. Avior Wealth Management LLC raised its holdings in ArcBest by 17.9% during the third quarter. Avior Wealth Management LLC now owns 625 shares of the transportation company’s stock valued at $68,000 after buying an additional 95 shares in the last quarter. Finally, KBC Group NV raised its holdings in ArcBest by 36.8% during the third quarter. KBC Group NV now owns 851 shares of the transportation company’s stock valued at $92,000 after buying an additional 229 shares in the last quarter. 99.27% of the stock is owned by institutional investors.

ArcBest Stock Down 1.7 %

Shares of NASDAQ:ARCB opened at $100.19 on Monday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.09. The business has a fifty day moving average of $103.93 and a two-hundred day moving average of $106.66. The stock has a market cap of $2.34 billion, a P/E ratio of 12.37, a PEG ratio of 1.61 and a beta of 1.53. ArcBest has a 52-week low of $91.01 and a 52-week high of $153.60.

ArcBest (NASDAQ:ARCB) 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 return on equity of 14.27% and a net margin of 4.54%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the company posted $2.31 EPS. ArcBest’s revenue was down 5.8% on a year-over-year basis. On average, research analysts expect that ArcBest will post 6.03 earnings per share for the current year.

ArcBest Dividend Announcement

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