ArcBest (NASDAQ:ARCB) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of ArcBest (NASDAQ:ARCB – Get Rating) in a research report report published on Thursday. The brokerage issued a hold rating on the transportation company’s stock.

ARCB has been the subject of a number of other reports. Citigroup increased their price objective on shares of ArcBest from $90.00 to $116.00 and gave the stock a buy rating in a research note on Thursday, March 2nd. Cowen upped their target price on shares of ArcBest from $124.00 to $127.00 in a research report on Monday, February 6th. Morgan Stanley restated an overweight rating and set a $138.00 target price on shares of ArcBest in a research report on Monday, February 13th. Finally, Credit Suisse Group upped their target price on shares of ArcBest from $90.00 to $100.00 and gave the stock an outperform rating in a research report on Monday, February 6th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, ArcBest has an average rating of Moderate Buy and an average target price of $117.38.

ArcBest Stock Performance

Shares of NASDAQ ARCB opened at $88.48 on Thursday. The firm has a fifty day moving average price of $91.30 and a 200-day moving average price of $81.57. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market cap of $2.15 billion, a PE ratio of 7.59 and a beta of 1.58. ArcBest has a 1 year low of $65.15 and a 1 year high of $104.87.

ArcBest (NASDAQ:ARCB – Get Rating) last announced its quarterly earnings data on Friday, February 3rd. The transportation company reported $2.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.64 by ($0.19). The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.25 billion. ArcBest had a return on equity of 32.17% and a net margin of 5.60%. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period last year, the company earned $2.79 earnings per share. Equities analysts anticipate that ArcBest will post 10.37 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 28th. Shareholders of record on Tuesday, February 14th were given a dividend of $0.12 per share. The ex-dividend date was Monday, February 13th. This represents a $0.48 annualized dividend and a yield of 0.54%. ArcBest’s dividend payout ratio (DPR) is currently 4.12%.

Hedge Funds Weigh In On ArcBest

Institutional investors have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of ArcBest by 13.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,737 shares of the transportation company’s stock worth $220,000 after acquiring an additional 314 shares during the last quarter. Citigroup Inc. lifted its holdings in shares of ArcBest by 4.5% in the 1st quarter. Citigroup Inc. now owns 24,501 shares of the transportation company’s stock worth $1,972,000 after acquiring an additional 1,061 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in shares of ArcBest by 55.3% in the 1st quarter. MetLife Investment Management LLC now owns 13,678 shares of the transportation company’s stock worth $1,101,000 after acquiring an additional 4,871 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of ArcBest by 10.9% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,438 shares of the transportation company’s stock worth $1,726,000 after acquiring an additional 2,114 shares during the last quarter. Finally, APG Asset Management N.V. bought a new stake in shares of ArcBest in the 1st quarter worth about $1,461,000. Institutional investors own 88.59% of the company’s stock.

ArcBest Company Profile

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ArcBest Corp. is a logistics company which provides end-to-end supply chain services with a focus on innovation. It operates through the following business segments: Asset-Based, ArcBest and FleetNet. The Asset-Based segment includes national, inter-regional, and regional transportation of general commodities through standard, expedited, and guaranteed less-than-truckload services.