ArcBest Co. (NASDAQ:ARCB) Given Average Recommendation of "Hold" by Brokerages

Shares of ArcBest Co. (NASDAQ:ARCB - Get Free Report) have earned an average rating of "Hold" from the thirteen research firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $88.25.

A number of brokerages have recently issued reports on ARCB. Wells Fargo & Company cut their price objective on shares of ArcBest from $80.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 30th. Jefferies Financial Group cut their target price on shares of ArcBest from $120.00 to $95.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. TD Cowen decreased their target price on shares of ArcBest from $80.00 to $72.00 and set a "hold" rating on the stock in a research note on Wednesday, April 30th. Citigroup cut their price target on shares of ArcBest from $83.00 to $66.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Finally, Stifel Nicolaus lowered their target price on shares of ArcBest from $102.00 to $83.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th.

Insider Activity

In other news, CFO John Matthew Beasley purchased 700 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average cost of $74.89 per share, for a total transaction of $52,423.00. Following the completion of the purchase, the chief financial officer now directly owns 8,142 shares of the company's stock, valued at approximately $609,754.38. The trade was a 9.41% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.28% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ArcBest

Hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC boosted its holdings in shares of ArcBest by 477.6% in the first quarter. Signaturefd LLC now owns 387 shares of the transportation company's stock valued at $27,000 after buying an additional 320 shares during the period. Blue Trust Inc. boosted its stake in shares of ArcBest by 146.3% during the 4th quarter. Blue Trust Inc. now owns 298 shares of the transportation company's stock worth $28,000 after acquiring an additional 177 shares during the period. CWM LLC increased its holdings in shares of ArcBest by 338.8% in the first quarter. CWM LLC now owns 452 shares of the transportation company's stock valued at $32,000 after purchasing an additional 349 shares during the last quarter. R Squared Ltd bought a new position in ArcBest in the 4th quarter valued at about $40,000. Finally, Smartleaf Asset Management LLC boosted its stake in ArcBest by 471.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 549 shares of the transportation company's stock valued at $51,000 after purchasing an additional 453 shares during the period. Institutional investors own 99.27% of the company's stock.

ArcBest Price Performance

Shares of ARCB stock traded up $3.43 on Friday, hitting $64.20. 410,114 shares of the stock traded hands, compared to its average volume of 308,146. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 8.76, a PEG ratio of 1.70 and a beta of 1.70. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.04. ArcBest has a 52 week low of $55.19 and a 52 week high of $129.83. The firm has a 50 day simple moving average of $64.62 and a two-hundred day simple moving average of $85.13.

ArcBest (NASDAQ:ARCB - Get Free Report) last announced its earnings results on Tuesday, April 29th. The transportation company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). The business had revenue of $967.08 million for the quarter, compared to analysts' expectations of $990.03 million. ArcBest had a net margin of 4.16% and a return on equity of 11.79%. The firm's quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.34 earnings per share. As a group, equities research analysts predict that ArcBest will post 7 earnings per share for the current fiscal year.

ArcBest Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend was Friday, May 9th. ArcBest's dividend payout ratio (DPR) is currently 6.35%.

ArcBest Company Profile

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.