ArcBest Corporation (NASDAQ:ARCB) Given Average Recommendation of “Hold” by Brokerages

ArcBest Corporation (NASDAQ:ARCBGet 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 stock opened at $68.88 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market capitalization of $1.57 billion, a PE ratio of 10.25, a price-to-earnings-growth ratio of 1.24 and a beta of 1.66. The business has a 50 day simple moving average of $73.07 and a 200-day simple moving average of $70.33. ArcBest has a 12 month low of $55.19 and a 12 month high of $123.25.

ArcBest (NASDAQ:ARCBGet 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

(Get Free Report)

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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Analyst Recommendations for ArcBest (NASDAQ:ARCB)

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