ArcBest Corporation (NASDAQ:ARCB) Given Consensus Rating of “Hold” by Analysts

Shares of ArcBest Corporation (NASDAQ:ARCB) have earned a consensus recommendation of “Hold” from the fourteen ratings firms that are covering the company, MarketBeat reports. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $92.9167.

A number of research firms have recently weighed in on ARCB. Truist Financial lifted their target price on ArcBest from $85.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, January 15th. Citigroup raised their price target on shares of ArcBest from $83.00 to $104.00 and gave the stock a “buy” rating in a research report on Wednesday, January 7th. Wells Fargo & Company dropped their price objective on shares of ArcBest from $80.00 to $74.00 and set an “equal weight” rating for the company in a research note on Thursday, November 6th. Stifel Nicolaus increased their target price on shares of ArcBest from $85.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, January 21st. Finally, UBS Group lowered their target price on shares of ArcBest from $80.00 to $77.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ARCB. Farther Finance Advisors LLC lifted its position in ArcBest by 433.3% during the second quarter. Farther Finance Advisors LLC now owns 384 shares of the transportation company’s stock worth $30,000 after purchasing an additional 312 shares during the period. Johnson Investment Counsel Inc. bought a new position in ArcBest in the 3rd quarter valued at about $28,000. FNY Investment Advisers LLC acquired a new position in shares of ArcBest in the 2nd quarter valued at approximately $51,000. Smartleaf Asset Management LLC lifted its holdings in shares of ArcBest by 26.9% during the 3rd quarter. Smartleaf Asset Management LLC now owns 675 shares of the transportation company’s stock worth $47,000 after acquiring an additional 143 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of ArcBest during the 2nd quarter worth approximately $85,000. Institutional investors own 99.27% of the company’s stock.

ArcBest Trading Down 0.8%

Shares of NASDAQ:ARCB opened at $85.31 on Friday. ArcBest has a 12-month low of $55.19 and a 12-month high of $103.14. The business has a 50 day moving average of $78.31 and a 200-day moving average of $74.58. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.10. The stock has a market cap of $1.92 billion, a PE ratio of 20.26, a P/E/G ratio of 10.84 and a beta of 1.51.

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

ArcBest Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 24th. Shareholders of record on Tuesday, February 10th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $0.48 annualized dividend and a yield of 0.6%. ArcBest’s payout ratio is currently 11.40%.

ArcBest Company Profile

ArcBest Corporation (NASDAQ: ARCB) is a transportation and logistics company that offers comprehensive freight and supply chain solutions across North America. Founded in 1923 as Arkansas Best Freight System, the company has evolved into a diversified service provider with both asset-based and asset-light operations. Its core businesses include less-than-truckload (LTL) shipping through ABF Freight, expedited full-truckload services via Panther Premium Logistics, and a range of logistics and supply chain management services under its ArcBest Integrated Logistics division.

The company’s asset-based operations also encompass FleetNet America, a provider of emergency roadside assistance and maintenance services for heavy-duty vehicles.