ArcBest Corporation (NASDAQ:ARCB) Stock Has Average Price Target of $154.23

Shares of ArcBest Corporation (NASDAQ:ARCB) have earned an average rating of “Moderate Buy” from the fifteen ratings firms that are presently covering the firm, MarketBeat reports. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $153.15.

Several research firms have recently weighed in on ARCB. Weiss Ratings restated a “hold (c-)” rating on shares of ArcBest in a report on Tuesday, August 25th. Stifel Nicolaus dropped their price objective on shares of ArcBest from $185.00 to $168.00 and set a “buy” rating for the company in a report on Thursday. The Goldman Sachs Group reiterated a “buy” rating and set a $172.00 target price on shares of ArcBest in a research report on Wednesday, July 29th. UBS Group boosted their target price on shares of ArcBest from $145.00 to $154.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. Finally, TD Cowen decreased their price target on shares of ArcBest from $175.00 to $155.00 and set a “hold” rating for the company in a research report on Thursday, July 30th.

Insider Activity at ArcBest

In related news, VP Jason Parks sold 855 shares of the firm’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $135.09, for a total transaction of $115,501.95. Following the completion of the transaction, the vice president directly owned 3,794 shares of the company’s stock, valued at $512,531.46. This trade represents a 18.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Erin Gattis sold 6,163 shares of ArcBest stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $140.00, for a total value of $862,820.00. Following the transaction, the insider directly owned 24,286 shares in the company, valued at $3,400,040. The trade was a 20.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 12,818 shares of company stock worth $1,793,568 over the last three months. Company insiders own 0.98% of the company’s stock.

Hedge Funds Weigh In On ArcBest

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. C M Bidwell & Associates Ltd. bought a new stake in ArcBest during the second quarter valued at $74,000. Nykredit A S bought a new position in shares of ArcBest in the 2nd quarter worth about $75,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of ArcBest in the 2nd quarter valued at about $92,000. PNC Financial Services Group Inc. lifted its stake in shares of ArcBest by 8.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,775 shares of the transportation company’s stock valued at $175,000 after purchasing an additional 134 shares during the period. Finally, Elevation Point Wealth Partners LLC bought a new stake in shares of ArcBest during the 1st quarter valued at about $215,000. 99.27% of the stock is owned by institutional investors and hedge funds.

ArcBest Stock Performance

NASDAQ ARCB opened at $129.36 on Wednesday. The firm’s fifty day moving average price is $134.92 and its two-hundred day moving average price is $133.13. The stock has a market cap of $2.89 billion, a PE ratio of 187.48, a PEG ratio of 0.40 and a beta of 1.70. ArcBest has a fifty-two week low of $59.43 and a fifty-two week high of $176.69. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 0.97.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings results on Wednesday, July 29th. The transportation company reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.12. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.17 billion. ArcBest had a return on equity of 7.92% and a net margin of 0.39%. ArcBest’s revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.36 EPS. On average, equities analysts expect that ArcBest will post 7.01 EPS for the current fiscal year.

ArcBest Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 7th were paid a $0.12 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $0.48 annualized dividend and a dividend yield of 0.4%. ArcBest’s payout ratio is currently 69.57%.

About ArcBest

ArcBest Corporation (NASDAQ: ARCB) is a logistics company that provides freight transportation and supply chain services to businesses in North America and international markets. Headquartered in Fort Smith, Arkansas, the company serves manufacturers, distributors, retailers and other commercial customers through a combination of asset-based transportation and asset-light logistics solutions.

ArcBest’s asset-based operations are conducted primarily through ABF Freight, a less-than-truckload carrier that transports palletized freight and offers regional, interregional and long-distance services.