ArcBest Corp (ARCB) Receives $44.33 Consensus Target Price from Analysts

ArcBest Corp (NASDAQ:ARCB) has been assigned a consensus rating of “Hold” from the thirteen brokerages that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $44.33.

ARCB has been the topic of several analyst reports. Loop Capital lowered their target price on shares of ArcBest from $47.00 to $46.00 in a report on Monday, November 5th. BidaskClub raised shares of ArcBest from a “hold” rating to a “buy” rating in a report on Thursday, August 2nd. Morgan Stanley lifted their target price on shares of ArcBest from $39.00 to $40.00 and gave the company an “equal weight” rating in a report on Monday, November 5th. ValuEngine downgraded shares of ArcBest from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $46.00 target price on shares of ArcBest in a report on Friday, August 3rd.

ArcBest stock traded up $0.33 during midday trading on Friday, hitting $39.55. 7,950 shares of the company’s stock were exchanged, compared to its average volume of 302,675. ArcBest has a 12-month low of $29.40 and a 12-month high of $51.45. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.39 and a current ratio of 1.39. The company has a market capitalization of $1.01 billion, a P/E ratio of 29.49, a PEG ratio of 0.24 and a beta of 2.26.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings data on Thursday, November 1st. The transportation company reported $1.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.12 by $0.32. ArcBest had a net margin of 2.92% and a return on equity of 12.98%. The company had revenue of $826.20 million for the quarter, compared to the consensus estimate of $815.82 million. During the same period last year, the firm posted $0.59 EPS. ArcBest’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, equities analysts expect that ArcBest will post 3.7 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 27th. Investors of record on Tuesday, November 13th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date is Friday, November 9th. ArcBest’s dividend payout ratio is currently 24.06%.

In related news, VP Michael R. Johns sold 4,409 shares of the business’s stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $40.16, for a total transaction of $177,065.44. Following the sale, the vice president now owns 34,200 shares of the company’s stock, valued at $1,373,472. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider James David Darter sold 2,062 shares of the business’s stock in a transaction dated Friday, November 9th. The stock was sold at an average price of $40.54, for a total transaction of $83,593.48. Following the sale, the insider now directly owns 24,424 shares in the company, valued at approximately $990,148.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,459 shares of company stock worth $420,657. 1.19% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Cutler Group LP raised its position in ArcBest by 202.7% during the third quarter. Cutler Group LP now owns 2,724 shares of the transportation company’s stock worth $132,000 after acquiring an additional 1,824 shares during the last quarter. Globeflex Capital L P acquired a new position in ArcBest during the second quarter worth about $133,000. Meeder Asset Management Inc. raised its position in ArcBest by 184.3% during the second quarter. Meeder Asset Management Inc. now owns 3,997 shares of the transportation company’s stock worth $183,000 after acquiring an additional 2,591 shares during the last quarter. Capital Fund Management S.A. acquired a new position in ArcBest during the second quarter worth about $201,000. Finally, Jane Street Group LLC acquired a new position in ArcBest during the third quarter worth about $203,000. 93.47% of the stock is currently owned by hedge funds and other institutional investors.

About ArcBest

ArcBest Corporation provides freight transportation services and integrated logistics solutions worldwide. It operates through three segments: Asset-Based, ArcBest, and FleetNet. The Asset-Based segment transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, nonbulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products through less-than-truckload services.

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Analyst Recommendations for ArcBest (NASDAQ:ARCB)

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