Citigroup Boosts ArcBest (NASDAQ:ARCB) Price Target to $40.00

ArcBest (NASDAQ:ARCB) had its price target hoisted by Citigroup from $38.00 to $40.00 in a research note published on Tuesday, February 6th. They currently have a neutral rating on the transportation company’s stock.

Several other brokerages have also issued reports on ARCB. BidaskClub raised ArcBest from a hold rating to a buy rating in a research report on Saturday, December 2nd. ValuEngine lowered ArcBest from a buy rating to a hold rating in a report on Friday, November 10th. Zacks Investment Research raised ArcBest from a hold rating to a buy rating and set a $36.00 price objective on the stock in a report on Tuesday, October 10th. Cowen restated a market perform rating and issued a $33.00 target price (up previously from $29.00) on shares of ArcBest in a research note on Monday, November 6th. Finally, Stifel Nicolaus downgraded ArcBest from a hold rating to a sell rating and upped their target price for the stock from $27.00 to $32.00 in a research note on Wednesday, December 13th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a strong buy rating to the stock. ArcBest presently has an average rating of Hold and an average price target of $34.63.

Shares of ArcBest (NASDAQ ARCB) opened at $33.55 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.30 and a quick ratio of 1.26. The firm has a market capitalization of $846.02, a price-to-earnings ratio of 24.26 and a beta of 1.71. ArcBest has a 1-year low of $16.95 and a 1-year high of $39.70.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings data on Wednesday, January 31st. The transportation company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.07. ArcBest had a return on equity of 5.82% and a net margin of 2.11%. The firm had revenue of $710.72 million during the quarter, compared to analysts’ expectations of $723.69 million. During the same period in the prior year, the business posted $0.28 EPS. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. sell-side analysts predict that ArcBest will post 2.23 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Friday, February 9th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $0.32 annualized dividend and a dividend yield of 0.95%. ArcBest’s dividend payout ratio is presently 14.29%.

In other news, Director William Legg sold 6,153 shares of ArcBest stock in a transaction on Monday, December 11th. The stock was sold at an average price of $37.52, for a total value of $230,860.56. Following the completion of the sale, the director now directly owns 36,147 shares of the company’s stock, valued at $1,356,235.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Janice E. Stipp sold 3,700 shares of ArcBest stock in a transaction on Friday, December 8th. The shares were sold at an average price of $38.09, for a total value of $140,933.00. Following the completion of the sale, the director now directly owns 20,200 shares of the company’s stock, valued at $769,418. The disclosure for this sale can be found here. 0.97% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in ARCB. ETRADE Capital Management LLC purchased a new stake in ArcBest during the 4th quarter worth about $210,000. PEAK6 Investments L.P. purchased a new stake in ArcBest during the 4th quarter worth about $231,000. Stone Ridge Asset Management LLC purchased a new stake in ArcBest during the 4th quarter worth about $243,000. Koch Industries Inc. purchased a new stake in ArcBest during the 4th quarter worth about $276,000. Finally, Teacher Retirement System of Texas purchased a new stake in ArcBest during the 4th quarter worth about $294,000. Hedge funds and other institutional investors own 88.76% of the company’s stock.

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About ArcBest

ArcBest Corporation is a holding company of businesses providing integrated logistics solutions. The Company operates through three segments: Asset-Based, which consists of ABF Freight System, Inc and other subsidiaries; ArcBest, which represents the consolidation of the operations of the Premium Logistics, Transportation Management and Household Goods Moving Services segments, and FleetNet, which includes the results of operations of FleetNet America, Inc (FleetNet).

Analyst Recommendations for ArcBest (NASDAQ:ARCB)

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