ArcBest Corporation (NASDAQ:ARCB) Receives Consensus Recommendation of “Hold” from Analysts

Shares of ArcBest Corporation (NASDAQ:ARCB) have earned an average recommendation of “Hold” from the fifteen ratings firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $85.00.

A number of research analysts have commented on the company. Cowen restated a “hold” rating on shares of ArcBest in a research note on Wednesday, October 1st. Stephens lowered ArcBest from an “overweight” rating to an “equal weight” rating and set a $72.00 price target for the company. in a report on Thursday, November 6th. Weiss Ratings restated a “hold (c-)” rating on shares of ArcBest in a report on Wednesday, October 8th. TD Cowen cut their price objective on shares of ArcBest from $67.00 to $64.00 and set a “hold” rating on the stock in a research report on Thursday, November 6th. Finally, Bank of America decreased their target price on shares of ArcBest from $73.00 to $72.00 and set a “neutral” rating for the company in a research report on Tuesday, December 2nd.

Hedge Funds Weigh In On ArcBest

Several institutional investors have recently bought and sold shares of ARCB. Smartleaf Asset Management LLC lifted its position in shares of ArcBest by 26.9% in the third quarter. Smartleaf Asset Management LLC now owns 675 shares of the transportation company’s stock worth $47,000 after buying an additional 143 shares during the last quarter. Capital Advisors Inc. OK lifted its holdings in ArcBest by 3.4% in the 3rd quarter. Capital Advisors Inc. OK now owns 4,375 shares of the transportation company’s stock worth $306,000 after purchasing an additional 145 shares during the last quarter. GAMMA Investing LLC lifted its holdings in ArcBest by 11.7% in the 2nd quarter. GAMMA Investing LLC now owns 1,603 shares of the transportation company’s stock worth $123,000 after purchasing an additional 168 shares during the last quarter. Rhumbline Advisers boosted its position in ArcBest by 0.3% during the third quarter. Rhumbline Advisers now owns 69,115 shares of the transportation company’s stock worth $4,829,000 after purchasing an additional 180 shares during the period. Finally, SummerHaven Investment Management LLC grew its holdings in ArcBest by 3.2% during the second quarter. SummerHaven Investment Management LLC now owns 7,590 shares of the transportation company’s stock valued at $585,000 after purchasing an additional 233 shares during the last quarter. 99.27% of the stock is currently owned by institutional investors.

ArcBest Stock Up 5.4%

ARCB stock opened at $73.62 on Thursday. The company has a 50 day moving average of $69.30 and a two-hundred day moving average of $71.84. The company has a market cap of $1.66 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 9.92 and a beta of 1.52. ArcBest has a 12-month low of $55.19 and a 12-month high of $113.74. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.10.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings results on Wednesday, November 5th. The transportation company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.37 by $0.09. ArcBest had a net margin of 2.41% and a return on equity of 8.24%. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the previous year, the company posted $1.64 EPS. ArcBest’s revenue was down 1.4% on a year-over-year basis. On average, equities analysts anticipate that ArcBest will post 7 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were issued a $0.12 dividend. The ex-dividend date was Friday, November 14th. This represents a $0.48 dividend on an annualized basis and a yield of 0.7%. ArcBest’s dividend payout ratio is currently 11.40%.

About ArcBest

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.