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

ArcBest Co. (NASDAQ:ARCB) has been given a consensus rating of “Hold” by the twelve analysts that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $118.91.

ARCB has been the subject of several research reports. Citigroup upped their price objective on shares of ArcBest from $110.00 to $127.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Stifel Nicolaus lifted their price objective on ArcBest from $109.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Wells Fargo & Company lowered their price objective on ArcBest from $105.00 to $96.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Morgan Stanley reduced their price target on ArcBest from $160.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of ArcBest from $130.00 to $117.00 and set a “neutral” rating for the company in a report on Monday, November 4th.

Insider Buying and Selling

In other news, Director Craig E. Philip sold 3,900 shares of the business’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 completion of the sale, the director now directly owns 23,250 shares of the company’s stock, valued at approximately $2,555,407.50. The trade was a 14.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.65% of the stock is owned by company insiders.

Institutional Investors Weigh In On ArcBest

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Alliancebernstein L.P. increased its stake in ArcBest by 9.4% in the 4th quarter. Alliancebernstein L.P. now owns 2,571,917 shares of the transportation company’s stock valued at $240,011,000 after buying an additional 220,325 shares during the period. JPMorgan Chase & Co. raised its holdings in ArcBest by 47.2% during the fourth quarter. JPMorgan Chase & Co. now owns 326,006 shares of the transportation company’s stock worth $30,423,000 after purchasing an additional 104,499 shares in the last quarter. American Century Companies Inc. lifted its position in ArcBest by 16.3% in the fourth quarter. American Century Companies Inc. now owns 618,919 shares of the transportation company’s stock valued at $57,758,000 after purchasing an additional 86,867 shares during the period. Norges Bank purchased a new stake in ArcBest in the 4th quarter valued at approximately $5,826,000. Finally, Rockefeller Capital Management L.P. increased its position in ArcBest by 41.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 163,168 shares of the transportation company’s stock worth $15,227,000 after purchasing an additional 48,184 shares during the period. 99.27% of the stock is owned by hedge funds and other institutional investors.

ArcBest Trading Up 1.3 %

Shares of ArcBest stock opened at $95.00 on Friday. The firm has a 50-day simple moving average of $98.35 and a two-hundred day simple moving average of $104.29. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.04 and a current ratio of 1.01. ArcBest has a fifty-two week low of $90.25 and a fifty-two week high of $153.60. The company has a market cap of $2.22 billion, a P/E ratio of 12.96, a price-to-earnings-growth ratio of 1.87 and a beta of 1.51.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings results on Friday, January 31st. The transportation company reported $1.33 earnings per share (EPS) for the quarter, beating 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 period in the previous year, the company posted $2.47 EPS. As a group, equities analysts predict that ArcBest will post 7 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend is Tuesday, February 11th. ArcBest’s dividend payout ratio (DPR) is 6.55%.

About ArcBest

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.