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

Key Points

• Analyst consensus: ArcBest has a “Moderate Buy” rating from 15 brokerages, with seven holds, seven buys, and one strong buy. The average 12-month price target is $154.23.
• Quarterly performance: ArcBest reported adjusted earnings of $2.38 per share, beating estimates of $2.26, while revenue rose 15.9% year over year to $1.18 billion.
• Ownership and trading activity: Insiders sold 12,818 shares worth approximately $1.79 million over the past 90 days, while institutional investors own 99.27% of the company. The stock recently traded at $128.24, below its average analyst target.

Shares of ArcBest Corporation (NASDAQ:ARCB - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the fifteen research firms that are currently covering the company, MarketBeat reports. Seven analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $154.23.

Several equities research analysts recently issued reports on ARCB shares. Weiss Ratings reiterated a "hold (c-)" rating on shares of ArcBest in a report on Tuesday, August 25th. UBS Group lifted their price objective on ArcBest from $145.00 to $154.00 and gave the company a "neutral" rating in a research note on Monday, August 3rd. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $172.00 target price on shares of ArcBest in a report on Wednesday, July 29th. Stifel Nicolaus lifted their price objective on shares of ArcBest from $134.00 to $176.00 and gave the stock a "buy" rating in a research report on Tuesday, July 21st. Finally, Truist Financial upped their price objective on ArcBest from $145.00 to $165.00 and gave the stock a "buy" rating in a research report on Wednesday, July 15th.

Insider Transactions at ArcBest

In other news, insider Erin Gattis sold 6,163 shares of the business's 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 completion of the sale, the insider directly owned 24,286 shares of the company's stock, valued at approximately $3,400,040. The trade was a 20.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Judy McReynolds sold 2,857 shares of the business'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 sale, the director owned 50,048 shares of the company's stock, valued at approximately $6,955,671.04. This represents a 5.40% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 12,818 shares of company stock worth $1,793,568. Corporate 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. Tidal Investments LLC acquired a new position in ArcBest in the 2nd quarter valued at about $638,000. WINTON GROUP Ltd purchased a new position in ArcBest in the 2nd quarter valued at $1,679,000. Engineers Gate Manager LP purchased a new position in ArcBest during the 2nd quarter worth $894,000. Squarepoint Ops LLC purchased a new stake in shares of ArcBest in the second quarter valued at about $4,194,000. Finally, Nykredit A S purchased a new position in ArcBest during the second quarter worth about $75,000. Hedge funds and other institutional investors own 99.27% of the company's stock.

ArcBest Stock Performance

Shares of ArcBest stock opened at $128.24 on Wednesday. The business's fifty day simple moving average is $135.76 and its 200-day simple moving average is $132.59. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.10. The firm has a market cap of $2.87 billion, a PE ratio of 185.86, a price-to-earnings-growth ratio of 0.40 and a beta of 1.70. ArcBest has a 52 week low of $59.43 and a 52 week high of $176.69.

ArcBest (NASDAQ:ARCB - Get Free Report) last posted its 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 for 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 for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.36 earnings per share. Equities analysts forecast that ArcBest will post 6.98 earnings per share for the current year.

ArcBest Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 7th were given a $0.12 dividend. The ex-dividend date of this dividend was 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 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.

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