ArcBest Corp (ARCB) Receives Average Rating of “Hold” from Analysts
ArcBest Corp (NASDAQ:ARCB) has been assigned a consensus rating of “Hold” from the eight research firms that are presently covering the firm. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $24.00.
Several equities research analysts have recently issued reports on the stock. Cowen and Company increased their price objective on shares of ArcBest Corp from $24.00 to $27.00 and gave the stock an “outperform” rating in a research report on Monday, May 15th. TheStreet lowered shares of ArcBest Corp from a “b-” rating to a “c+” rating in a research report on Wednesday, February 8th. Deutsche Bank AG dropped their price objective on shares of ArcBest Corp from $33.00 to $25.00 and set a “hold” rating for the company in a research report on Monday, May 8th. Finally, Zacks Investment Research lowered shares of ArcBest Corp from a “hold” rating to a “sell” rating in a research report on Tuesday, April 25th.
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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tudor Investment Corp ET AL increased its position in shares of ArcBest Corp by 12.2% in the first quarter. Tudor Investment Corp ET AL now owns 15,600 shares of the transportation company’s stock valued at $406,000 after buying an additional 1,700 shares during the period. Jane Street Group LLC purchased a new position in shares of ArcBest Corp during the first quarter valued at $812,000. AQR Capital Management LLC increased its position in shares of ArcBest Corp by 8.1% in the first quarter. AQR Capital Management LLC now owns 158,440 shares of the transportation company’s stock valued at $4,120,000 after buying an additional 11,900 shares during the period. State Street Corp increased its position in shares of ArcBest Corp by 6.0% in the first quarter. State Street Corp now owns 712,078 shares of the transportation company’s stock valued at $18,514,000 after buying an additional 40,128 shares during the period. Finally, Bank of America Corp DE increased its position in shares of ArcBest Corp by 22.8% in the first quarter. Bank of America Corp DE now owns 101,923 shares of the transportation company’s stock valued at $2,650,000 after buying an additional 18,901 shares during the period. Institutional investors and hedge funds own 88.83% of the company’s stock.
ArcBest Corp (NASDAQ:ARCB) opened at 18.00 on Monday. The firm has a 50-day moving average of $23.43 and a 200 day moving average of $27.65. The stock has a market cap of $465.03 million, a PE ratio of 27.36 and a beta of 1.72. ArcBest Corp has a 12 month low of $14.85 and a 12 month high of $33.95.
ArcBest Corp (NASDAQ:ARCB) last released its quarterly earnings data on Friday, May 5th. The transportation company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by $0.11. ArcBest Corp had a return on equity of 4.15% and a net margin of 0.69%. The business had revenue of $651.10 million during the quarter, compared to analyst estimates of $659.29 million. During the same period in the previous year, the company earned ($0.23) EPS. ArcBest Corp’s revenue was up 4.8% on a year-over-year basis. Analysts anticipate that ArcBest Corp will post $1.20 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 30th. Stockholders of record on Tuesday, May 16th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, May 12th. This represents a $0.32 annualized dividend and a dividend yield of 1.78%. ArcBest Corp’s dividend payout ratio (DPR) is presently 45.71%.
ArcBest Corp 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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