ArcBest Corp Price Target Cut to $35.00 by Analysts at RBC Capital (ARCB)
RBC Capital reduced their price objective on shares of ArcBest Corp (NASDAQ:ARCB) from $38.00 to $35.00 in a research note issued on Friday. RBC Capital’s price objective points to a potential upside of 3.55% from the company’s current price.
A number of other firms have also recently commented on ARCB. Analysts at Buckingham Research upgraded shares of ArcBest Corp from an “underperform” rating to a “neutral” rating in a research note on Friday. Separately, analysts at Cowen and Company upgraded shares of ArcBest Corp from a “market perform” rating to an “outperform” rating in a research note on Friday. They now have a $38.00 price target on the stock, down previously from $44.00. Finally, analysts at Deutsche Bank raised their price target on shares of ArcBest Corp from $37.00 to $40.00 in a research note on Monday, July 7th. They now have a “hold” rating on the stock. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $38.51.
ArcBest Corp (NASDAQ:ARCB) traded up 6.52% on Friday, hitting $33.80. 927,424 shares of the company’s stock traded hands. ArcBest Corp has a 52-week low of $19.40 and a 52-week high of $45.68. The stock has a 50-day moving average of $41.8 and a 200-day moving average of $38.2. The company has a market cap of $878.6 million and a price-to-earnings ratio of 35.10.
ArcBest Corp (NASDAQ:ARCB) last released its earnings data on Thursday, July 31st. The company reported $0.65 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.72 by $0.07. The company had revenue of $658.60 million for the quarter, compared to the consensus estimate of $643.08 million. ArcBest Corp’s revenue was up 14.2% compared to the same quarter last year. Analysts expect that ArcBest Corp will post $2.03 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, August 21st. Shareholders of record on Thursday, August 7th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date of this dividend is Tuesday, August 5th.
ArcBest Corp., formerly Arkansas Best Corporation, is a provider of freight transportation services and solutions.
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