ArcBest Co. (NASDAQ:ARCB) Receives $151.54 Consensus Target Price from Analysts

ArcBest Co. (NASDAQ:ARCB) has been assigned an average recommendation of “Moderate Buy” from the thirteen research firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $151.54.

Several research analysts have weighed in on ARCB shares. The Goldman Sachs Group boosted their price target on ArcBest from $133.00 to $149.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Deutsche Bank Aktiengesellschaft assumed coverage on ArcBest in a report on Monday, January 29th. They issued a “buy” rating and a $148.00 price target for the company. JPMorgan Chase & Co. dropped their price objective on ArcBest from $168.00 to $164.00 and set an “overweight” rating for the company in a report on Tuesday, April 9th. TD Cowen upped their price objective on ArcBest from $141.00 to $178.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Finally, Morgan Stanley upped their price objective on ArcBest from $155.00 to $175.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th.

ArcBest Price Performance

ARCB stock opened at $139.53 on Friday. The stock’s 50 day moving average price is $140.48 and its 200 day moving average price is $124.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.26 and a current ratio of 1.26. The firm has a market cap of $3.28 billion, a P/E ratio of 17.64, a PEG ratio of 0.59 and a beta of 1.49. ArcBest has a 1 year low of $82.18 and a 1 year high of $153.60.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings results on Tuesday, February 6th. The transportation company reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.25. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.09 billion. ArcBest had a return on equity of 15.91% and a net margin of 4.41%. ArcBest’s revenue was down 6.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.45 EPS. On average, sell-side analysts expect that ArcBest will post 10.05 earnings per share for the current fiscal year.

ArcBest Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $0.48 annualized dividend and a yield of 0.34%. ArcBest’s dividend payout ratio (DPR) is 6.07%.

Insider Buying and Selling

In related news, insider Erin K. Gattis sold 2,000 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $141.58, for a total transaction of $283,160.00. Following the sale, the insider now owns 32,247 shares in the company, valued at $4,565,530.26. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.18% of the stock is owned by company insiders.

Institutional Trading of ArcBest

A number of large investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC boosted its holdings in ArcBest by 49.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 227 shares of the transportation company’s stock worth $27,000 after buying an additional 75 shares in the last quarter. Contravisory Investment Management Inc. boosted its holdings in ArcBest by 70.9% during the first quarter. Contravisory Investment Management Inc. now owns 188 shares of the transportation company’s stock worth $27,000 after buying an additional 78 shares in the last quarter. Horrell Capital Management Inc. boosted its holdings in ArcBest by 0.3% during the fourth quarter. Horrell Capital Management Inc. now owns 29,224 shares of the transportation company’s stock worth $3,513,000 after buying an additional 94 shares in the last quarter. SummerHaven Investment Management LLC boosted its holdings in ArcBest by 1.3% during the fourth quarter. SummerHaven Investment Management LLC now owns 7,572 shares of the transportation company’s stock worth $910,000 after buying an additional 96 shares in the last quarter. Finally, 1492 Capital Management LLC boosted its holdings in ArcBest by 1.0% during the fourth quarter. 1492 Capital Management LLC now owns 10,605 shares of the transportation company’s stock worth $1,275,000 after buying an additional 103 shares in the last quarter. 99.27% of the stock is currently owned by institutional investors.

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.