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

ArcBest Co. (NASDAQ:ARCB) has been given a consensus rating of “Moderate Buy” by the thirteen ratings firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and nine have given a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $151.54.

Several equities research analysts have commented on the stock. The Goldman Sachs Group upped their target price on shares of ArcBest from $133.00 to $149.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. TD Cowen upped their target price on shares of ArcBest from $141.00 to $178.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. UBS Group upped their target price on shares of ArcBest from $119.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, February 16th. Bank of America upped their price target on shares of ArcBest from $141.00 to $143.00 and gave the company an “underperform” rating in a report on Monday, April 15th. Finally, JPMorgan Chase & Co. dropped their price target on shares of ArcBest from $168.00 to $164.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 9th.

ArcBest Price Performance

NASDAQ:ARCB opened at $139.53 on Friday. The firm has a market cap of $3.28 billion, a PE ratio of 17.64, a price-to-earnings-growth ratio of 0.59 and a beta of 1.49. ArcBest has a 12 month low of $82.18 and a 12 month high of $153.60. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.13. The company’s 50-day moving average price is $140.48 and its two-hundred day moving average price is $124.09.

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

ArcBest Announces Dividend

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

Insider Activity at ArcBest

In other news, insider Erin K. Gattis sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $141.58, for a total value of $283,160.00. Following the transaction, the insider now owns 32,247 shares in the company, valued at approximately $4,565,530.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.18% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC lifted its position in shares of ArcBest by 49.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 227 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 75 shares during the period. Contravisory Investment Management Inc. raised 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 during the last quarter. Allworth Financial LP grew its position in ArcBest by 15,450.0% during the third quarter. Allworth Financial LP now owns 311 shares of the transportation company’s stock valued at $32,000 after buying an additional 309 shares during the period. GAMMA Investing LLC bought a new position in ArcBest during the fourth quarter valued at about $39,000. Finally, Parallel Advisors LLC grew its position in ArcBest by 45.8% during the fourth quarter. Parallel Advisors LLC now owns 363 shares of the transportation company’s stock valued at $44,000 after buying an additional 114 shares during the period. Institutional investors and hedge funds own 99.27% of the company’s stock.

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.