ArcBest Corporation (NASDAQ:ARCB – Get Free Report) has earned a consensus rating of “Hold” from the fifteen brokerages that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $89.3333.
Several equities analysts have issued reports on ARCB shares. Zacks Research upgraded ArcBest to a “strong sell” rating in a research report on Monday, August 11th. Bank of America raised shares of ArcBest from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $63.00 to $74.00 in a research note on Tuesday, June 10th. Stifel Nicolaus decreased their price objective on shares of ArcBest from $93.00 to $81.00 and set a “buy” rating on the stock in a report on Thursday, July 31st. Jefferies Financial Group restated a “buy” rating and set a $85.00 target price (up from $75.00) on shares of ArcBest in a research report on Tuesday, June 10th. Finally, Cowen reaffirmed a “hold” rating on shares of ArcBest in a report on Wednesday.
Check Out Our Latest Research Report on ArcBest
ArcBest Price Performance
ArcBest (NASDAQ:ARCB – Get Free Report) last released its earnings results on Wednesday, July 30th. The transportation company reported $1.36 EPS for the quarter, missing the consensus estimate of $1.48 by ($0.12). The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.03 billion. ArcBest had a return on equity of 8.67% and a net margin of 3.90%.The firm’s revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the business posted $1.98 EPS. Equities analysts predict that ArcBest will post 7 earnings per share for the current year.
ArcBest Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 8th. ArcBest’s payout ratio is 7.14%.
Hedge Funds Weigh In On ArcBest
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Signaturefd LLC grew its position 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 purchasing an additional 320 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in ArcBest by 433.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 384 shares of the transportation company’s stock valued at $30,000 after buying an additional 312 shares in the last quarter. CWM LLC grew its holdings in ArcBest by 338.8% during the 1st quarter. CWM LLC now owns 452 shares of the transportation company’s stock valued at $32,000 after buying an additional 349 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in ArcBest during the 2nd quarter valued at $51,000. Finally, Curat Global LLC purchased a new stake in shares of ArcBest in the first quarter valued at $82,000. Institutional investors and hedge funds own 99.27% of the company’s stock.
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.
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