Analysts Set ArcBest Co. (NASDAQ:ARCB) PT at $143.38

Shares of ArcBest Co. (NASDAQ:ARCBGet Free Report) have been given a consensus recommendation of “Moderate Buy” by the thirteen ratings firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $142.69.

Several brokerages have recently issued reports on ARCB. Stifel Nicolaus dropped their target price on shares of ArcBest from $159.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. Stephens upped their target price on shares of ArcBest from $165.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Morgan Stanley upped their target price on shares of ArcBest from $155.00 to $175.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. TD Cowen lowered their price objective on shares of ArcBest from $177.00 to $148.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Finally, Bank of America decreased their target price on shares of ArcBest from $143.00 to $110.00 and set an “underperform” rating for the company in a research note on Wednesday, May 1st.

Read Our Latest Research Report on ARCB

ArcBest Trading Down 1.2 %

NASDAQ:ARCB opened at $113.78 on Wednesday. ArcBest has a one year low of $82.18 and a one year high of $153.60. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.23 and a quick ratio of 1.23. The company’s 50-day simple moving average is $132.64 and its 200 day simple moving average is $127.24. The firm has a market capitalization of $2.67 billion, a P/E ratio of 22.89, a PEG ratio of 0.60 and a beta of 1.56.

ArcBest (NASDAQ:ARCBGet Free Report) last issued its earnings results on Tuesday, April 30th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.19). The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. ArcBest had a return on equity of 15.27% and a net margin of 2.80%. The company’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.58 EPS. As a group, analysts forecast that ArcBest will post 8.52 EPS for the current fiscal year.

ArcBest Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date is Thursday, May 9th. ArcBest’s dividend payout ratio (DPR) is 9.66%.

Insiders Place Their Bets

In other news, insider Erin K. Gattis sold 2,000 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $141.58, for a total value of $283,160.00. Following the transaction, the insider now directly owns 32,247 shares in the company, valued at $4,565,530.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.65% of the stock is currently owned by company insiders.

Institutional Trading of ArcBest

Several institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC grew its position in shares of 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 purchasing an additional 75 shares in the last quarter. Contravisory Investment Management Inc. grew its position in shares of 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 purchasing an additional 78 shares in the last quarter. Horrell Capital Management Inc. grew its position in shares of 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 purchasing an additional 94 shares in the last quarter. SummerHaven Investment Management LLC grew its holdings in ArcBest by 1.3% during the 4th quarter. SummerHaven Investment Management LLC now owns 7,572 shares of the transportation company’s stock valued at $910,000 after buying an additional 96 shares in the last quarter. Finally, 1492 Capital Management LLC grew its holdings in ArcBest by 1.0% during the 4th quarter. 1492 Capital Management LLC now owns 10,605 shares of the transportation company’s stock valued at $1,275,000 after buying an additional 103 shares in the last quarter. Hedge funds and other institutional investors own 99.27% of the company’s stock.

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.

Further Reading

Analyst Recommendations for ArcBest (NASDAQ:ARCB)

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