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

Shares of ArcBest Co. (NASDAQ:ARCB) have received a consensus recommendation of “Hold” from the thirteen analysts that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $107.00.

Several equities research analysts have recently commented on the stock. Morgan Stanley decreased their target price on shares of ArcBest from $160.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Citigroup decreased their price objective on ArcBest from $103.00 to $83.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. UBS Group lowered their price objective on ArcBest from $110.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. Truist Financial started coverage on ArcBest in a research report on Thursday, March 13th. They set a “buy” rating and a $93.00 target price on the stock. Finally, Stephens reissued an “overweight” rating and issued a $116.00 price target on shares of ArcBest in a research report on Tuesday, March 11th.

Insider Buying and Selling

In other news, CFO John Matthew Beasley acquired 700 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was bought at an average price of $74.89 per share, with a total value of $52,423.00. Following the acquisition, the chief financial officer now owns 8,142 shares in the company, valued at $609,754.38. The trade was a 9.41 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.28% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ArcBest

Several institutional investors have recently added to or reduced their stakes in ARCB. Alliancebernstein L.P. raised its position in shares of ArcBest by 9.4% in the fourth quarter. Alliancebernstein L.P. now owns 2,571,917 shares of the transportation company’s stock valued at $240,011,000 after purchasing an additional 220,325 shares during the period. JPMorgan Chase & Co. raised its holdings in ArcBest by 47.2% during the 4th quarter. JPMorgan Chase & Co. now owns 326,006 shares of the transportation company’s stock valued at $30,423,000 after acquiring an additional 104,499 shares during the period. American Century Companies Inc. lifted its position in shares of ArcBest by 16.3% during the fourth quarter. American Century Companies Inc. now owns 618,919 shares of the transportation company’s stock worth $57,758,000 after acquiring an additional 86,867 shares in the last quarter. Eisler Capital Management Ltd. bought a new position in shares of ArcBest in the fourth quarter worth $7,695,000. Finally, Norges Bank purchased a new position in shares of ArcBest in the fourth quarter valued at $5,826,000. 99.27% of the stock is owned by hedge funds and other institutional investors.

ArcBest Stock Down 1.0 %

Shares of NASDAQ:ARCB opened at $63.63 on Friday. The firm has a market cap of $1.47 billion, a P/E ratio of 8.68, a PEG ratio of 1.70 and a beta of 1.55. ArcBest has a 52-week low of $57.80 and a 52-week high of $153.61. The business’s 50 day simple moving average is $81.99 and its two-hundred day simple moving average is $96.75. 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 (NASDAQ:ARCB) last issued its earnings results on Friday, January 31st. The transportation company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.22. ArcBest had a return on equity of 11.79% and a net margin of 4.16%. During the same period in the previous year, the company posted $2.47 EPS. As a group, research analysts forecast that ArcBest will post 7 EPS for the current fiscal year.

ArcBest Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.48 annualized dividend and a dividend yield of 0.75%. ArcBest’s payout ratio is currently 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.