Brokerages Set ArcBest Co. (NASDAQ:ARCB) Target Price at $101.50

ArcBest Co. (NASDAQ:ARCB) has been assigned a consensus recommendation of “Hold” from the thirteen ratings firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $88.75.

Several brokerages have issued reports on ARCB. Stephens reissued an “overweight” rating and set a $116.00 target price on shares of ArcBest in a research note on Tuesday, March 11th. The Goldman Sachs Group reduced their price objective on ArcBest from $97.00 to $84.00 and set a “neutral” rating for the company in a research note on Wednesday. Morgan Stanley decreased their price objective on ArcBest from $160.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Jefferies Financial Group dropped their target price on ArcBest from $120.00 to $95.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Finally, Truist Financial decreased their price target on shares of ArcBest from $93.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, April 24th.

ArcBest Trading Up 7.3 %

NASDAQ:ARCB opened at $62.01 on Wednesday. The stock has a fifty day simple moving average of $68.08 and a 200 day simple moving average of $89.98. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 8.46, a price-to-earnings-growth ratio of 1.70 and a beta of 1.70. ArcBest has a 1-year low of $55.19 and a 1-year high of $129.83. The company has a quick ratio of 1.04, a current ratio of 1.01 and a debt-to-equity ratio of 0.10.

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

ArcBest Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 9th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $0.48 annualized dividend and a dividend yield of 0.77%. ArcBest’s dividend payout ratio is currently 6.35%.

Insider Buying and Selling

In other ArcBest news, CFO John Matthew Beasley purchased 700 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was bought 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 of the company’s stock, valued at $609,754.38. The trade was a 9.41 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 1.28% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its position in ArcBest by 146.3% during the 4th quarter. Blue Trust Inc. now owns 298 shares of the transportation company’s stock worth $28,000 after buying an additional 177 shares in the last quarter. Signaturefd LLC increased its position in shares of ArcBest by 477.6% in the first quarter. Signaturefd LLC now owns 387 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 320 shares during the last quarter. R Squared Ltd bought a new stake in ArcBest during the fourth quarter worth about $40,000. CWM LLC boosted its position in ArcBest by 338.8% during the first quarter. CWM LLC now owns 452 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 349 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in ArcBest by 471.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 549 shares of the transportation company’s stock valued at $51,000 after purchasing an additional 453 shares in the last quarter. 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.