ArcBest Corporation (NASDAQ:ARCB) Receives Average Rating of “Hold” from Analysts

Shares of ArcBest Corporation (NASDAQ:ARCB) have been given an average recommendation of “Hold” by the thirteen analysts that are currently covering the stock, MarketBeat.com reports. Seven analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $89.42.

A number of research analysts have commented on the stock. TD Cowen cut their price target on shares of ArcBest from $80.00 to $72.00 and set a “hold” rating for the company in a research note on Wednesday, April 30th. Stephens restated an “overweight” rating and set a $116.00 price target on shares of ArcBest in a research note on Tuesday, March 11th. Wells Fargo & Company cut their price target on shares of ArcBest from $80.00 to $60.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 30th. UBS Group cut their price target on shares of ArcBest from $100.00 to $64.00 and set a “neutral” rating for the company in a research note on Wednesday, April 30th. Finally, The Goldman Sachs Group upgraded shares of ArcBest from a “neutral” rating to a “buy” rating and raised their price target for the stock from $84.00 to $101.00 in a research note on Monday, June 2nd.

ArcBest Stock Up 3.3%

NASDAQ ARCB opened at $71.06 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a 50-day simple moving average of $64.02 and a 200 day simple moving average of $78.90. ArcBest has a twelve month low of $55.19 and a twelve month high of $129.83. The stock has a market cap of $1.63 billion, a PE ratio of 9.40, a PEG ratio of 0.73 and a beta of 1.68.

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

ArcBest Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date was Friday, May 9th. ArcBest’s dividend payout ratio (DPR) is currently 6.35%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Arizona State Retirement System increased its holdings in shares of ArcBest by 1.6% in the fourth quarter. Arizona State Retirement System now owns 6,856 shares of the transportation company’s stock valued at $640,000 after purchasing an additional 108 shares in the last quarter. Summit Investment Advisors Inc. increased its holdings in shares of ArcBest by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,463 shares of the transportation company’s stock valued at $230,000 after purchasing an additional 157 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of ArcBest by 146.3% in the fourth quarter. Blue Trust Inc. now owns 298 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 177 shares in the last quarter. Crossmark Global Holdings Inc. increased its holdings in shares of ArcBest by 7.1% in the first quarter. Crossmark Global Holdings Inc. now owns 4,303 shares of the transportation company’s stock valued at $304,000 after purchasing an additional 285 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of ArcBest by 4.3% in the fourth quarter. Franklin Resources Inc. now owns 7,406 shares of the transportation company’s stock valued at $691,000 after purchasing an additional 305 shares in the last quarter. Institutional investors 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.