Brokerages Set ArcBest Corporation (NASDAQ:ARCB) Price Target at $154.23

ArcBest Corporation (NASDAQ:ARCB) has received a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are presently covering the stock, Marketbeat reports. Seven analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $154.2308.

A number of equities research analysts have recently issued reports on ARCB shares. Citizens Jmp started coverage on ArcBest in a research report on Wednesday, July 15th. They issued a “market outperform” rating and a $180.00 price target for the company. Weiss Ratings lowered ArcBest from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, May 28th. TD Cowen dropped their target price on ArcBest from $175.00 to $155.00 and set a “hold” rating for the company in a report on Thursday, July 30th. Wall Street Zen raised ArcBest from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $172.00 price target on shares of ArcBest in a report on Wednesday, July 29th.

Insider Activity

In other news, insider Erin K. Gattis sold 6,163 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $140.00, for a total transaction of $862,820.00. Following the completion of the sale, the insider owned 24,286 shares in the company, valued at $3,400,040. This trade represents a 20.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Judy R. Mcreynolds sold 2,857 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $138.98, for a total value of $397,065.86. Following the completion of the transaction, the director owned 50,048 shares in the company, valued at $6,955,671.04. This represents a 5.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 11,963 shares of company stock worth $1,678,066 over the last quarter. 0.98% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ArcBest

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Maple Rock Capital Partners Inc. grew its holdings in shares of ArcBest by 32.5% during the 2nd quarter. Maple Rock Capital Partners Inc. now owns 535,746 shares of the transportation company’s stock worth $76,901,000 after purchasing an additional 131,400 shares during the period. Susquehanna Fundamental Investments LLC raised its holdings in ArcBest by 85.0% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 34,527 shares of the transportation company’s stock valued at $4,956,000 after buying an additional 15,862 shares during the period. Cookson Peirce & Co. Inc. purchased a new stake in ArcBest in the 2nd quarter valued at about $1,482,000. Greenleaf Trust acquired a new position in ArcBest in the second quarter valued at about $290,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in ArcBest by 9.8% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 60,108 shares of the transportation company’s stock worth $8,628,000 after buying an additional 5,371 shares during the period. Hedge funds and other institutional investors own 99.27% of the company’s stock.

ArcBest Stock Performance

NASDAQ:ARCB opened at $135.89 on Tuesday. The company has a market cap of $3.04 billion, a P/E ratio of 196.94, a P/E/G ratio of 0.45 and a beta of 1.57. ArcBest has a twelve month low of $59.43 and a twelve month high of $176.69. The company’s 50-day moving average price is $146.86 and its 200-day moving average price is $124.83. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings data on Wednesday, July 29th. The transportation company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 0.39% and a return on equity of 7.92%. ArcBest’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.36 EPS. On average, sell-side analysts forecast that ArcBest will post 6.9 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, August 7th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.48 dividend on an annualized basis and a yield of 0.4%. ArcBest’s payout ratio is 69.57%.

ArcBest Company Profile

ArcBest Corporation (NASDAQ: ARCB) is a transportation and logistics company that offers comprehensive freight and supply chain solutions across North America. Founded in 1923 as Arkansas Best Freight System, the company has evolved into a diversified service provider with both asset-based and asset-light operations. Its core businesses include less-than-truckload (LTL) shipping through ABF Freight, expedited full-truckload services via Panther Premium Logistics, and a range of logistics and supply chain management services under its ArcBest Integrated Logistics division.

The company’s asset-based operations also encompass FleetNet America, a provider of emergency roadside assistance and maintenance services for heavy-duty vehicles.