ArcBest Corp Receives Consensus Recommendation of “Buy” from Analysts (NASDAQ:ARCB)
Shares of ArcBest Corp (NASDAQ:ARCB) have earned a consensus rating of “Buy” from the ten ratings firms that are covering the stock, AnalystRatingsNetwork reports. Four analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $38.71.
ArcBest Corp (NASDAQ:ARCB) traded up 0.21% during mid-day trading on Thursday, hitting $34.13. The stock had a trading volume of 24,711 shares. ArcBest Corp has a one year low of $21.35 and a one year high of $45.68. The stock’s 50-day moving average is $39.80 and its 200-day moving average is $38.18. The company has a market cap of $887.9 million and a P/E ratio of 25.12.
ArcBest Corp (NASDAQ:ARCB) last announced its earnings results on Thursday, July 31st. The company reported $0.65 earnings per share (EPS) for the quarter, missing the 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. The company’s revenue for the quarter was up 14.2% on a year-over-year basis. Analysts expect that ArcBest Corp will post $1.84 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, August 21st. Shareholders of record on Thursday, August 7th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.35%. The ex-dividend date is Tuesday, August 5th.
ARCB has been the subject of a number of recent research reports. Analysts at Raymond James reiterated a “strong-buy” rating on shares of ArcBest Corp in a research note on Friday, August 1st. They now have a $45.00 price target on the stock, down previously from $47.00. Separately, analysts at RBC Capital cut their price target on shares of ArcBest Corp from $38.00 to $35.00 in a research note on Friday, August 1st. Finally, analysts at Buckingham Research upgraded shares of ArcBest Corp from an “underperform” rating to a “neutral” rating in a research note on Friday, August 1st.
ArcBest Corp., formerly Arkansas Best Corporation, is a provider of freight transportation services and solutions.
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