Shares of ArcBest Corporation (NASDAQ:ARCB) have been assigned a consensus recommendation of “Hold” from the eleven ratings firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating and nine have given a hold rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $30.00.
ARCB has been the subject of several research reports. Cowen and Company lowered ArcBest Corporation from an “outperform” rating to a “market perform” rating in a report on Monday, October 16th. Zacks Investment Research lowered ArcBest Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, October 18th. Morgan Stanley reissued an “equal weight” rating and set a $22.00 price objective (up from $21.00) on shares of ArcBest Corporation in a report on Thursday, October 5th. Deutsche Bank AG reissued a “hold” rating and set a $29.00 price objective (up from $26.00) on shares of ArcBest Corporation in a report on Wednesday, August 9th. Finally, TheStreet raised ArcBest Corporation from a “c” rating to a “b-” rating in a report on Friday, July 28th.
ArcBest Corporation (NASDAQ:ARCB) opened at $31.95 on Monday. The stock has a market capitalization of $819.10, a P/E ratio of 25.98 and a beta of 1.78. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.33. ArcBest Corporation has a twelve month low of $16.95 and a twelve month high of $34.45.
ArcBest Corporation (NASDAQ:ARCB) last announced its quarterly earnings data on Friday, November 3rd. The transportation company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.01. ArcBest Corporation had a return on equity of 5.34% and a net margin of 0.88%. The business had revenue of $744.30 million during the quarter, compared to analyst estimates of $750.16 million. During the same period in the prior year, the company earned $0.48 earnings per share. ArcBest Corporation’s revenue was up 4.3% compared to the same quarter last year. analysts anticipate that ArcBest Corporation will post 1.29 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 28th. Shareholders of record on Tuesday, November 14th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, November 13th. This represents a $0.32 annualized dividend and a dividend yield of 1.00%. ArcBest Corporation’s dividend payout ratio is currently 34.41%.
In other ArcBest Corporation news, VP Michael R. Johns sold 6,593 shares of the stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $29.98, for a total transaction of $197,658.14. Following the sale, the vice president now owns 35,700 shares in the company, valued at $1,070,286. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.97% of the company’s stock.
Large investors have recently bought and sold shares of the business. Tudor Investment Corp ET AL lifted its position in shares of ArcBest Corporation by 12.2% during the first quarter. Tudor Investment Corp ET AL now owns 15,600 shares of the transportation company’s stock worth $406,000 after acquiring an additional 1,700 shares in the last quarter. Systematic Financial Management LP lifted its position in shares of ArcBest Corporation by 55.6% during the second quarter. Systematic Financial Management LP now owns 88,382 shares of the transportation company’s stock worth $1,821,000 after acquiring an additional 31,575 shares in the last quarter. LSV Asset Management lifted its position in shares of ArcBest Corporation by 12.3% during the second quarter. LSV Asset Management now owns 427,500 shares of the transportation company’s stock worth $8,806,000 after acquiring an additional 46,700 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of ArcBest Corporation by 26.0% during the second quarter. Ameriprise Financial Inc. now owns 524,005 shares of the transportation company’s stock worth $10,792,000 after acquiring an additional 108,200 shares in the last quarter. Finally, Thrivent Financial For Lutherans lifted its position in shares of ArcBest Corporation by 4.7% during the first quarter. Thrivent Financial For Lutherans now owns 13,610 shares of the transportation company’s stock worth $354,000 after acquiring an additional 610 shares in the last quarter. Hedge funds and other institutional investors own 84.80% of the company’s stock.
ArcBest Corporation Company Profile
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).
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