ArcBest Corporation (NASDAQ:ARCB) Given Consensus Rating of “Hold” by Analysts

Shares of ArcBest Corporation (NASDAQ:ARCB) have earned a consensus recommendation of “Hold” from the thirteen brokerages that are presently covering the stock, Marketbeat.com reports. Seven analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $89.42.

A number of analysts have recently issued reports on ARCB shares. The Goldman Sachs Group upgraded ArcBest from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $84.00 to $101.00 in a report on Monday, June 2nd. Truist Financial decreased their price objective on shares of ArcBest from $93.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Stephens reissued an “overweight” rating and issued a $116.00 price objective on shares of ArcBest in a research report on Tuesday, March 11th. TD Cowen cut their target price on shares of ArcBest from $80.00 to $72.00 and set a “hold” rating on the stock in a research note on Wednesday, April 30th. Finally, Wells Fargo & Company reduced their target price on shares of ArcBest from $80.00 to $60.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 30th.

ArcBest Trading Down 0.1%

ARCB stock opened at $74.08 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.11. The company has a market cap of $1.70 billion, a price-to-earnings ratio of 9.80, a PEG ratio of 0.78 and a beta of 1.68. The business has a fifty day simple moving average of $64.60 and a 200-day simple moving average of $78.84. ArcBest has a 52 week low of $55.19 and a 52 week high of $129.83.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings results on Tuesday, April 29th. The transportation company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The firm had revenue of $967.08 million for the quarter, compared to analysts’ expectations of $990.03 million. ArcBest had a net margin of 4.37% and a return on equity of 10.05%. ArcBest’s revenue was down 6.7% on a year-over-year basis. During the same period last year, the firm posted $1.34 EPS. On average, equities research analysts expect that ArcBest will post 7 EPS for the current year.

ArcBest Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend was Friday, May 9th. ArcBest’s dividend payout ratio is currently 6.35%.

Institutional Investors Weigh In On ArcBest

Several hedge funds and other institutional investors have recently bought and sold shares of ARCB. Vanguard Group Inc. grew its position in shares of ArcBest by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 2,771,123 shares of the transportation company’s stock worth $258,601,000 after buying an additional 20,665 shares in the last quarter. Alliancebernstein L.P. boosted its stake in ArcBest by 3.6% during the 1st quarter. Alliancebernstein L.P. now owns 2,664,431 shares of the transportation company’s stock valued at $188,056,000 after acquiring an additional 92,514 shares during the last quarter. Westwood Holdings Group Inc. grew its holdings in ArcBest by 36.7% during the 1st quarter. Westwood Holdings Group Inc. now owns 869,267 shares of the transportation company’s stock worth $61,353,000 after acquiring an additional 233,409 shares in the last quarter. American Century Companies Inc. increased its position in shares of ArcBest by 11.5% in the 1st quarter. American Century Companies Inc. now owns 689,895 shares of the transportation company’s stock worth $48,693,000 after purchasing an additional 70,976 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of ArcBest by 2.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 436,921 shares of the transportation company’s stock worth $30,838,000 after purchasing an additional 10,766 shares during the last quarter. 99.27% of the stock is currently owned by hedge funds and other institutional investors.

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.