Brokerages Set ArcBest Co. (NASDAQ:ARCB) Price Target at $151.54

Shares of ArcBest Co. (NASDAQ:ARCB) have earned a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $151.54.

Several research firms recently commented on ARCB. TD Cowen raised their price target on shares of ArcBest from $141.00 to $178.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Morgan Stanley raised their price target on shares of ArcBest from $155.00 to $175.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Stifel Nicolaus increased their price objective on shares of ArcBest from $153.00 to $159.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. StockNews.com raised shares of ArcBest from a “hold” rating to a “buy” rating in a report on Friday, January 26th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of ArcBest from $168.00 to $164.00 and set an “overweight” rating on the stock in a report on Tuesday, April 9th.

Insider Transactions at ArcBest

In other news, insider Erin K. Gattis sold 2,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $141.58, for a total value of $283,160.00. Following the transaction, the insider now directly owns 32,247 shares of the company’s stock, valued at $4,565,530.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.18% of the company’s stock.

Hedge Funds Weigh In On ArcBest

A number of institutional investors have recently bought and sold shares of ARCB. Mount Yale Investment Advisors LLC raised its stake in ArcBest by 18.5% during the third quarter. Mount Yale Investment Advisors LLC now owns 2,445 shares of the transportation company’s stock worth $249,000 after purchasing an additional 381 shares during the period. Moody National Bank Trust Division raised its stake in ArcBest by 79.0% during the third quarter. Moody National Bank Trust Division now owns 5,146 shares of the transportation company’s stock worth $523,000 after purchasing an additional 2,271 shares during the period. SG Americas Securities LLC purchased a new position in ArcBest during the third quarter worth about $141,000. Guidance Capital Inc. raised its stake in ArcBest by 4.9% during the third quarter. Guidance Capital Inc. now owns 2,785 shares of the transportation company’s stock worth $274,000 after purchasing an additional 131 shares during the period. Finally, DAVENPORT & Co LLC increased its position in shares of ArcBest by 2.0% during the third quarter. DAVENPORT & Co LLC now owns 16,197 shares of the transportation company’s stock valued at $1,646,000 after acquiring an additional 322 shares during the last quarter. 99.27% of the stock is owned by hedge funds and other institutional investors.

ArcBest Stock Down 6.1 %

NASDAQ:ARCB opened at $137.00 on Friday. The firm has a market capitalization of $3.22 billion, a P/E ratio of 17.32, a PEG ratio of 0.60 and a beta of 1.49. ArcBest has a 1-year low of $82.18 and a 1-year high of $153.60. The company’s fifty day moving average price is $140.41 and its 200-day moving average price is $124.81. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.26 and a quick ratio of 1.26.

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

ArcBest Dividend Announcement

The firm also recently declared 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 dividend payout ratio is currently 6.07%.

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.