Analysts Set ArcBest Co. (NASDAQ:ARCB) Target Price at $118.91

ArcBest Co. (NASDAQ:ARCB) has earned an average rating of “Hold” from the twelve brokerages that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $118.91.

Several equities analysts have recently issued reports on ARCB shares. Morgan Stanley reduced their price target on shares of ArcBest from $160.00 to $145.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Stifel Nicolaus boosted their price target on shares of ArcBest from $109.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. reduced their price target on shares of ArcBest from $130.00 to $117.00 and set a “neutral” rating for the company in a report on Monday, November 4th. UBS Group reduced their price target on shares of ArcBest from $110.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Finally, Citigroup boosted their price target on shares of ArcBest from $110.00 to $127.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th.

Institutional Investors Weigh In On ArcBest

Hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp raised its position in ArcBest by 1.9% in the third quarter. State Street Corp now owns 957,410 shares of the transportation company’s stock worth $103,831,000 after acquiring an additional 17,542 shares in the last quarter. JPMorgan Chase & Co. raised its position in ArcBest by 24.6% in the third quarter. JPMorgan Chase & Co. now owns 221,507 shares of the transportation company’s stock worth $24,022,000 after acquiring an additional 43,707 shares in the last quarter. Intech Investment Management LLC raised its position in ArcBest by 92.3% in the third quarter. Intech Investment Management LLC now owns 10,753 shares of the transportation company’s stock worth $1,166,000 after acquiring an additional 5,161 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in ArcBest by 16.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 116,672 shares of the transportation company’s stock worth $12,653,000 after buying an additional 16,103 shares during the period. Finally, Barclays PLC lifted its stake in ArcBest by 342.5% during the third quarter. Barclays PLC now owns 43,134 shares of the transportation company’s stock valued at $4,678,000 after buying an additional 33,386 shares in the last quarter. 99.27% of the stock is currently owned by institutional investors.

ArcBest Stock Performance

ArcBest stock opened at $89.44 on Friday. The company has a market cap of $2.09 billion, a PE ratio of 12.20, a P/E/G ratio of 1.90 and a beta of 1.51. The company has a fifty day moving average price of $96.35 and a two-hundred day moving average price of $103.30. 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 12 month low of $88.10 and a 12 month high of $153.60.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings data on Friday, January 31st. The transportation company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.22. ArcBest had a net margin of 4.16% and a return on equity of 11.79%. During the same period in the prior year, the firm earned $2.47 earnings per share. Research analysts expect that ArcBest will post 7 earnings per share for the current year.

ArcBest Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.54%. The ex-dividend date is Tuesday, February 11th. ArcBest’s payout ratio is currently 6.55%.

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.