ArcBest Co. (NASDAQ:ARCB) Receives $118.91 Average Target Price from Analysts

ArcBest Co. (NASDAQ:ARCB) has received a consensus rating of “Hold” from the thirteen analysts that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $108.33.

A number of research analysts recently issued reports on the company. Stifel Nicolaus lifted their target price on ArcBest from $109.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Truist Financial initiated coverage on ArcBest in a report on Thursday. They set a “buy” rating and a $93.00 price target for the company. The Goldman Sachs Group dropped their price objective on ArcBest from $126.00 to $108.00 and set a “neutral” rating on the stock in a report on Friday. Citigroup decreased their target price on ArcBest from $103.00 to $83.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Finally, Bank of America dropped their price target on shares of ArcBest from $100.00 to $73.00 and set an “underperform” rating on the stock in a research note on Wednesday.

ArcBest Stock Performance

NASDAQ ARCB opened at $73.35 on Tuesday. The company has a market cap of $1.70 billion, a P/E ratio of 10.01, a P/E/G ratio of 1.70 and a beta of 1.54. ArcBest has a 1-year low of $70.96 and a 1-year high of $153.61. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.04. The stock has a 50-day moving average of $90.03 and a two-hundred day moving average of $99.98.

ArcBest (NASDAQ:ARCB) last announced its earnings results on Friday, January 31st. The transportation company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.22. ArcBest had a net margin of 4.16% and a return on equity of 11.79%. During the same quarter in the prior year, the company posted $2.47 EPS. As a group, analysts anticipate that ArcBest will post 7 EPS for the current year.

ArcBest Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date was Tuesday, February 11th. ArcBest’s dividend payout ratio is currently 6.55%.

Insider Buying and Selling at ArcBest

In related news, CFO John Matthew Beasley bought 700 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were acquired at an average price of $74.89 per share, with a total value of $52,423.00. Following the completion of the acquisition, the chief financial officer now owns 8,142 shares in the company, valued at approximately $609,754.38. This trade represents a 9.41 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.65% of the stock is owned by company insiders.

Hedge Funds Weigh In On ArcBest

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Blue Trust Inc. lifted its stake in shares of ArcBest by 146.3% in the 4th 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 period. R Squared Ltd purchased a new stake in ArcBest during the fourth quarter worth about $40,000. Smartleaf Asset Management LLC grew its position in 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. Quest Partners LLC increased its holdings in ArcBest by 60.6% in the third quarter. Quest Partners LLC now owns 546 shares of the transportation company’s stock valued at $59,000 after buying an additional 206 shares in the last quarter. Finally, Avior Wealth Management LLC lifted its position in shares of ArcBest by 17.9% during the 3rd quarter. Avior Wealth Management LLC now owns 625 shares of the transportation company’s stock valued at $68,000 after acquiring an additional 95 shares during the period. 99.27% of the stock is currently owned by hedge funds and other 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.