ArcBest Co. (NASDAQ:ARCB) Receives Average Recommendation of “Hold” from Analysts

by · The Markets Daily

Shares of ArcBest Co. (NASDAQ:ARCB – Get Free Report) have received a consensus rating of “Hold” from the thirteen analysts that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $124.50.

ARCB has been the subject of several analyst reports. StockNews.com raised ArcBest from a “hold” rating to a “buy” rating in a research note on Thursday, October 3rd. The Goldman Sachs Group cut their target price on shares of ArcBest from $133.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Bank of America decreased their price target on shares of ArcBest from $102.00 to $99.00 and set an “underperform” rating for the company in a research note on Wednesday, September 4th. Wells Fargo & Company dropped 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. Finally, Stephens reaffirmed an “overweight” rating and set a $130.00 price objective on shares of ArcBest in a research report on Wednesday, September 4th.

Read Our Latest Research Report on ARCB

ArcBest Trading Down 0.6 %

NASDAQ ARCB opened at $93.08 on Thursday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 2.56 and a beta of 1.49. The firm has a 50 day simple moving average of $106.65 and a 200-day simple moving average of $107.69. ArcBest has a one year low of $91.01 and a one year high of $153.60.

ArcBest (NASDAQ:ARCB – Get Free Report) last issued 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 net margin of 4.54% and a return on equity of 14.27%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the business earned $2.31 EPS. The business’s quarterly revenue was down 5.8% on a year-over-year basis. Equities research analysts anticipate that ArcBest will post 6.06 EPS for the current fiscal year.

ArcBest Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were given a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.52%. ArcBest’s dividend payout ratio (DPR) is presently 5.93%.

Insiders Place Their Bets

In other news, Director Craig E. Philip sold 3,900 shares of ArcBest stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $109.91, for a total value of $428,649.00. Following the transaction, the director now directly owns 23,250 shares of the company’s stock, valued at $2,555,407.50. The trade was a 14.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Michael E. Newcity sold 10,443 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $120.60, for a total transaction of $1,259,425.80. Following the sale, 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 position. The disclosure for this sale can be found here. 1.65% of the stock is currently owned by corporate insiders.

Institutional Trading of ArcBest

A number of hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its stake in shares of ArcBest by 24.6% during the third quarter. JPMorgan Chase & Co. now owns 221,507 shares of the transportation company’s stock worth $24,022,000 after purchasing an additional 43,707 shares during the last quarter. Sanctuary Advisors LLC raised its position in ArcBest by 5.4% during 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 acquired a new stake in shares of ArcBest in the 3rd quarter worth $485,000. Geode Capital Management LLC boosted its holdings in shares of ArcBest by 0.6% in the third quarter. Geode Capital Management LLC now owns 551,821 shares of the transportation company’s stock valued at $59,856,000 after acquiring an additional 3,475 shares in the last quarter. Finally, Impala Asset Management LLC increased its stake in shares of ArcBest by 51.1% during the third quarter. Impala Asset Management LLC now owns 34,000 shares of the transportation company’s stock worth $3,687,000 after acquiring an additional 11,500 shares during the period. 99.27% of the stock is owned by institutional investors and hedge funds.

ArcBest Company Profile

(Get Free Report

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.

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