Analysts Set ArcBest Co. (NASDAQ:ARCB) Target Price at $88.25

Shares of ArcBest Co. (NASDAQ:ARCB) have been given a consensus rating of “Hold” by the thirteen brokerages that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $88.25.

A number of research firms have weighed in on ARCB. Bank of America upped their target price on ArcBest from $58.00 to $67.00 and gave the stock an “underperform” rating in a report on Friday, May 16th. Truist Financial decreased their price objective on ArcBest from $93.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, April 24th. The Goldman Sachs Group decreased their price objective on ArcBest from $97.00 to $84.00 and set a “neutral” rating for the company in a report on Wednesday, April 30th. Jefferies Financial Group decreased their price objective on ArcBest from $120.00 to $95.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Finally, Stephens reiterated an “overweight” rating and set a $116.00 price objective on shares of ArcBest in a report on Tuesday, March 11th.

ArcBest Stock Up 5.6%

Shares of NASDAQ ARCB opened at $64.20 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.04 and a current ratio of 1.01. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 8.76, a PEG ratio of 1.70 and a beta of 1.70. The stock has a 50 day moving average price of $64.47 and a 200 day moving average price of $84.99. ArcBest has a 52-week low of $55.19 and a 52-week high of $129.83.

ArcBest (NASDAQ:ARCB) last posted its earnings results on Tuesday, April 29th. The transportation company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The company had revenue of $967.08 million for the quarter, compared to analysts’ expectations of $990.03 million. ArcBest had a return on equity of 11.79% and a net margin of 4.16%. The firm’s quarterly revenue was down 6.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.34 EPS. Sell-side analysts expect that ArcBest will post 7 earnings per share for the current year.

ArcBest Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.75%. The ex-dividend date was Friday, May 9th. ArcBest’s payout ratio is 6.35%.

Insiders Place Their Bets

In other news, CFO John Matthew Beasley bought 700 shares of the stock in a transaction dated Thursday, March 13th. The shares were acquired at an average cost of $74.89 per share, with a total value of $52,423.00. Following the purchase, the chief financial officer now directly owns 8,142 shares in the company, valued at $609,754.38. The trade was a 9.41% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.28% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Intech Investment Management LLC lifted its stake in ArcBest by 3.4% in the 1st quarter. Intech Investment Management LLC now owns 20,135 shares of the transportation company’s stock worth $1,421,000 after purchasing an additional 655 shares in the last quarter. Jane Street Group LLC lifted its stake in ArcBest by 278.2% in the 1st quarter. Jane Street Group LLC now owns 45,591 shares of the transportation company’s stock worth $3,218,000 after purchasing an additional 33,537 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in ArcBest by 215.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 153,138 shares of the transportation company’s stock worth $10,808,000 after purchasing an additional 104,643 shares in the last quarter. Zimmer Partners LP lifted its stake in ArcBest by 33.3% in the 1st quarter. Zimmer Partners LP now owns 140,000 shares of the transportation company’s stock worth $9,881,000 after purchasing an additional 35,000 shares in the last quarter. Finally, Empowered Funds LLC purchased a new stake in shares of ArcBest during the 1st quarter valued at approximately $5,372,000. 99.27% of the stock is 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.