ArcBest Co. (NASDAQ:ARCB) Given Consensus Rating of “Hold” by Brokerages

ArcBest Co. (NASDAQ:ARCB) has been assigned a consensus recommendation of “Hold” from the thirteen research firms that are covering the company, Marketbeat.com reports. One research 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 12-month price objective among brokerages that have issued a report on the stock in the last year is $125.00.

A number of equities analysts recently commented on ARCB shares. Wolfe Research downgraded shares of ArcBest from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th. UBS Group cut their price target on ArcBest from $111.00 to $110.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Citigroup raised their price objective on ArcBest from $110.00 to $127.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. The Goldman Sachs Group reduced their target price on shares of ArcBest from $133.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Finally, Morgan Stanley lowered their price target on shares of ArcBest from $175.00 to $170.00 and set an “overweight” rating on the stock in a report on Monday, November 4th.

Insider Buying and Selling at ArcBest

In other ArcBest news, Director Craig E. Philip sold 3,900 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $109.91, for a total transaction of $428,649.00. Following the completion of the transaction, the director now directly owns 23,250 shares of the company’s stock, valued at approximately $2,555,407.50. This trade represents a 14.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Michael E. Newcity sold 10,443 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $120.60, for a total transaction of $1,259,425.80. Following the completion of the sale, the senior vice president now directly owns 5,051 shares in the company, valued at $609,150.60. This trade represents a 67.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.65% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. OneDigital Investment Advisors LLC grew its position in ArcBest by 3.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,509 shares of the transportation company’s stock worth $272,000 after purchasing an additional 86 shares during the period. Avior Wealth Management LLC lifted its holdings in shares of ArcBest by 17.9% in the 3rd quarter. Avior Wealth Management LLC now owns 625 shares of the transportation company’s stock valued at $68,000 after buying an additional 95 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of ArcBest by 4.0% in the third quarter. Nisa Investment Advisors LLC now owns 3,225 shares of the transportation company’s stock worth $350,000 after buying an additional 124 shares during the last quarter. Quarry LP grew its holdings in ArcBest by 120.7% during the second quarter. Quarry LP now owns 245 shares of the transportation company’s stock worth $26,000 after acquiring an additional 134 shares during the period. Finally, Empowered Funds LLC raised its position in ArcBest by 4.9% during the third quarter. Empowered Funds LLC now owns 3,695 shares of the transportation company’s stock valued at $401,000 after acquiring an additional 173 shares in the last quarter. Hedge funds and other institutional investors own 99.27% of the company’s stock.

ArcBest Price Performance

ARCB opened at $98.49 on Monday. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of 12.16, a PEG ratio of 1.83 and a beta of 1.53. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.09. ArcBest has a 12-month low of $91.01 and a 12-month high of $153.60. The business’s fifty day simple moving average is $102.45 and its 200-day simple moving average is $106.38.

ArcBest (NASDAQ:ARCB) last issued its earnings results on Friday, November 1st. The transportation company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.20). ArcBest had a return on equity of 14.27% and a net margin of 4.54%. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the company earned $2.31 earnings per share. The firm’s revenue was down 5.8% on a year-over-year basis. On average, equities research analysts anticipate that ArcBest will post 6.02 earnings per share for the current fiscal year.

ArcBest Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were paid a $0.12 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $0.48 dividend on an annualized basis and a yield of 0.49%. ArcBest’s dividend payout ratio (DPR) is 5.93%.

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.