ArcBest Co. (NASDAQ:ARCB) Receives Average Recommendation of “Moderate Buy” from Analysts

ArcBest Co. (NASDAQ:ARCB) has earned a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $151.54.

ARCB has been the topic of several research reports. The Goldman Sachs Group boosted their price objective on shares of ArcBest from $133.00 to $149.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Stifel Nicolaus upped their price target on shares of ArcBest from $153.00 to $159.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. StockNews.com raised ArcBest from a “hold” rating to a “buy” rating in a report on Friday, January 26th. TD Cowen boosted their price objective on ArcBest from $141.00 to $178.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Finally, UBS Group lifted their price objective on shares of ArcBest from $119.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, February 16th.

ArcBest Stock Up 1.3 %

NASDAQ:ARCB opened at $138.03 on Friday. The stock’s fifty day moving average price is $140.59 and its two-hundred day moving average price is $123.47. The company has a market cap of $3.24 billion, a price-to-earnings ratio of 17.45, a P/E/G ratio of 0.60 and a beta of 1.49. ArcBest has a 52-week low of $82.18 and a 52-week high of $153.60. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.26 and a current ratio of 1.26.

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

ArcBest Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.35%. The ex-dividend date was Thursday, February 15th. ArcBest’s payout ratio is 6.07%.

Insiders Place Their Bets

In other ArcBest news, insider Erin K. Gattis sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $141.58, for a total transaction of $283,160.00. Following the completion of the transaction, the insider now owns 32,247 shares in the company, valued at $4,565,530.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.65% of the stock is owned by insiders.

Institutional Trading of ArcBest

Several institutional investors and hedge funds have recently modified their holdings of ARCB. Allspring Global Investments Holdings LLC raised its position in ArcBest by 9.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 165,175 shares of the transportation company’s stock valued at $23,537,000 after purchasing an additional 14,463 shares in the last quarter. Oliver Luxxe Assets LLC raised its holdings in shares of ArcBest by 1.6% in the 1st quarter. Oliver Luxxe Assets LLC now owns 8,216 shares of the transportation company’s stock valued at $1,171,000 after purchasing an additional 129 shares in the last quarter. Contravisory Investment Management Inc. lifted its position in shares of ArcBest by 70.9% in the 1st quarter. Contravisory Investment Management Inc. now owns 188 shares of the transportation company’s stock worth $27,000 after purchasing an additional 78 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of ArcBest by 2.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,369 shares of the transportation company’s stock valued at $1,608,000 after purchasing an additional 266 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new position in ArcBest in the fourth quarter worth approximately $262,000. Institutional investors own 99.27% of the company’s stock.

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.