Brokerages Set ArcBest Co. (NASDAQ:ARCB) PT at $118.91

ArcBest Co. (NASDAQ:ARCB) has been assigned a consensus recommendation of “Hold” from the thirteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and five 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 $108.33.

A number of equities analysts have recently weighed in on the company. Stephens reissued an “overweight” rating and issued a $116.00 price target on shares of ArcBest in a report on Tuesday, March 11th. The Goldman Sachs Group cut their target price on shares of ArcBest from $126.00 to $108.00 and set a “neutral” rating for the company in a research note on Friday. Wells Fargo & Company decreased their price target on shares of ArcBest from $105.00 to $96.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Citigroup cut their price objective on shares of ArcBest from $103.00 to $83.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Finally, Morgan Stanley decreased their target price on shares of ArcBest from $160.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd.

ArcBest Price Performance

Shares of NASDAQ ARCB opened at $73.35 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 1.04 and a debt-to-equity ratio of 0.10. The company’s 50-day moving average price is $90.03 and its 200 day moving average price is $99.98. ArcBest has a 52 week low of $70.96 and a 52 week high of $153.61. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 10.01, a PEG ratio of 1.70 and a beta of 1.54.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings results on Friday, January 31st. The transportation company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.11 by $0.22. ArcBest had a net margin of 4.16% and a return on equity of 11.79%. During the same period last year, the firm earned $2.47 EPS. As a group, research analysts forecast that ArcBest will post 7 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were issued a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.65%. ArcBest’s dividend payout ratio (DPR) is 6.55%.

Insider Activity

In other ArcBest news, CFO John Matthew Beasley bought 700 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were acquired at an average price of $74.89 per share, with a total value of $52,423.00. Following the purchase, the chief financial officer now owns 8,142 shares in the company, valued at approximately $609,754.38. The trade was a 9.41 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.65% of the company’s stock.

Institutional Trading of ArcBest

Large investors have recently added to or reduced their stakes in the stock. QRG Capital Management Inc. grew its stake in shares of ArcBest by 6.5% in the third quarter. QRG Capital Management Inc. now owns 3,156 shares of the transportation company’s stock valued at $342,000 after buying an additional 193 shares in the last quarter. Meritage Portfolio Management grew its position in ArcBest by 9.3% in the third quarter. Meritage Portfolio Management now owns 3,680 shares of the transportation company’s stock valued at $399,000 after acquiring an additional 312 shares in the last quarter. GSA Capital Partners LLP raised its stake in shares of ArcBest by 22.6% during the third quarter. GSA Capital Partners LLP now owns 15,266 shares of the transportation company’s stock valued at $1,656,000 after purchasing an additional 2,810 shares during the period. KBC Group NV lifted its position in shares of ArcBest by 36.8% during the third quarter. KBC Group NV now owns 851 shares of the transportation company’s stock worth $92,000 after purchasing an additional 229 shares in the last quarter. Finally, OneDigital Investment Advisors LLC boosted its stake in shares of ArcBest by 3.5% in the third quarter. OneDigital Investment Advisors LLC now owns 2,509 shares of the transportation company’s stock valued at $272,000 after purchasing an additional 86 shares during the period. 99.27% of the stock is currently owned by institutional investors and hedge funds.

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.