Brokerages Set ArcBest Co. (NASDAQ:ARCB) Target Price at $118.91

Shares of ArcBest Co. (NASDAQ:ARCB) have earned an average rating of “Hold” from the twelve research firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $118.91.

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. lowered their price target on ArcBest from $130.00 to $117.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Citigroup raised their target price on ArcBest from $110.00 to $127.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Morgan Stanley decreased their target price on ArcBest from $160.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Stifel Nicolaus raised their target price on ArcBest from $109.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Finally, UBS Group decreased their target price on ArcBest from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd.

Insider Activity at ArcBest

In other ArcBest news, Director Craig E. Philip sold 3,900 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $109.91, for a total transaction of $428,649.00. Following the completion of the sale, the director now owns 23,250 shares of the company’s stock, valued at $2,555,407.50. This trade represents a 14.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.65% of the company’s stock.

Institutional Investors Weigh In On ArcBest

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARCB. Blue Trust Inc. increased its stake in ArcBest by 146.3% during the fourth quarter. Blue Trust Inc. now owns 298 shares of the transportation company’s stock worth $28,000 after acquiring an additional 177 shares during the last quarter. R Squared Ltd purchased a new position in shares of ArcBest during the fourth quarter worth $40,000. Smartleaf Asset Management LLC boosted its position in shares of ArcBest by 471.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 549 shares of the transportation company’s stock worth $51,000 after buying an additional 453 shares during the period. GAMMA Investing LLC boosted its position in shares of ArcBest by 63.7% during the third quarter. GAMMA Investing LLC now owns 514 shares of the transportation company’s stock worth $56,000 after buying an additional 200 shares during the period. Finally, Quest Partners LLC boosted its position in shares of ArcBest by 60.6% during the third quarter. Quest Partners LLC now owns 546 shares of the transportation company’s stock worth $59,000 after buying an additional 206 shares during the period. Institutional investors and hedge funds own 99.27% of the company’s stock.

ArcBest Stock Performance

Shares of ARCB stock opened at $95.14 on Friday. The company has a market capitalization of $2.23 billion, a P/E ratio of 12.98, a P/E/G ratio of 1.87 and a beta of 1.51. The business’s 50 day moving average is $97.52 and its two-hundred day moving average is $103.56. The company has a current ratio of 1.01, a quick ratio of 1.04 and a debt-to-equity ratio of 0.10. ArcBest has a 12-month low of $90.25 and a 12-month high of $153.60.

ArcBest (NASDAQ:ARCB) last issued its quarterly 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 quarter in the prior year, the company earned $2.47 EPS. Analysts expect that ArcBest will post 7 EPS for the current fiscal year.

ArcBest Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $0.48 annualized dividend and a dividend yield of 0.50%. ArcBest’s dividend payout ratio is presently 6.55%.

ArcBest Company Profile

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.