ArcBest Corp Given Consensus Rating of “Buy” by Analysts (NASDAQ:ARCB)
Shares of ArcBest Corp (NASDAQ:ARCB) have earned a consensus rating of “Buy” from the ten brokerages that are presently covering the stock, Stock Ratings Network reports. Four research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $38.71.
ArcBest Corp (NASDAQ:ARCB) opened at 34.62 on Thursday. ArcBest Corp has a 52 week low of $21.35 and a 52 week high of $45.68. The stock has a 50-day moving average of $39.34 and a 200-day moving average of $38.17. The company has a market cap of $900.6 million and a P/E ratio of 25.30.
ArcBest Corp (NASDAQ:ARCB) last issued its quarterly earnings data 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 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 0.35%. The ex-dividend date of this dividend is Tuesday, August 5th.
A number of research firms have recently commented on ARCB. 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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