Brokerages Set ArcBest Co. (NASDAQ:ARCB) Price Target at $124.50

Shares of ArcBest Co. (NASDAQ:ARCB) have received an average recommendation of “Hold” from the thirteen ratings firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $124.50.

ARCB has been the topic of several research analyst reports. Stephens reissued an “overweight” rating and set a $130.00 price target on shares of ArcBest in a research note on Wednesday, September 4th. Wells Fargo & Company decreased their target price on ArcBest from $112.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Monday, November 4th. Jefferies Financial Group dropped their price target on ArcBest from $140.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, October 10th. Stifel Nicolaus decreased their price objective on shares of ArcBest from $131.00 to $119.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Finally, StockNews.com upgraded shares of ArcBest from a “hold” rating to a “buy” rating in a report on Thursday, October 3rd.

Insider Buying and Selling

In related 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 transaction of $428,649.00. Following the transaction, the director now owns 23,250 shares in the company, valued at approximately $2,555,407.50. The trade was a 14.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Michael E. Newcity sold 10,443 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $120.60, for a total value of $1,259,425.80. Following the completion of the transaction, the senior vice president now directly owns 5,051 shares in the company, valued at $609,150.60. This trade represents a 67.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.65% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ArcBest

Large investors have recently modified their holdings of the stock. Quarry LP boosted its holdings in ArcBest by 120.7% in the 2nd quarter. Quarry LP now owns 245 shares of the transportation company’s stock worth $26,000 after acquiring an additional 134 shares during the period. Innealta Capital LLC purchased a new stake in ArcBest during the 2nd quarter worth $33,000. Quest Partners LLC purchased a new position in ArcBest in the 2nd quarter valued at about $36,000. GAMMA Investing LLC grew its stake in shares of ArcBest by 63.7% during the third quarter. GAMMA Investing LLC now owns 514 shares of the transportation company’s stock valued at $56,000 after acquiring an additional 200 shares in the last quarter. Finally, Avior Wealth Management LLC increased its position in shares of ArcBest by 17.9% during the third quarter. Avior Wealth Management LLC now owns 625 shares of the transportation company’s stock worth $68,000 after acquiring an additional 95 shares during the last quarter. Institutional investors and hedge funds own 99.27% of the company’s stock.

ArcBest Trading Down 0.6 %

NASDAQ:ARCB opened at $93.08 on Thursday. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 2.56 and a beta of 1.49. ArcBest has a 1 year low of $91.01 and a 1 year high of $153.60. The stock has a fifty day moving average price of $106.65 and a two-hundred day moving average price of $107.69. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings data 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 company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the business earned $2.31 EPS. The firm’s revenue for the quarter was down 5.8% on a year-over-year basis. As a group, sell-side analysts anticipate that ArcBest will post 6.06 earnings per share for the current fiscal year.

ArcBest Announces Dividend

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

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.