ArcBest Corporation (NASDAQ:ARCB) Given Consensus Recommendation of “Hold” by Brokerages

Shares of ArcBest Corporation (NASDAQ:ARCB) have received an average recommendation of “Hold” from the fourteen analysts that are covering the company, MarketBeat.com reports. Eight research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $97.1667.

A number of research firms have recently issued reports on ARCB. Bank of America lifted their target price on shares of ArcBest from $72.00 to $84.00 and gave the company a “neutral” rating in a research note on Tuesday, December 23rd. Stifel Nicolaus decreased their price target on ArcBest from $96.00 to $94.00 and set a “buy” rating on the stock in a research report on Monday, February 2nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of ArcBest in a report on Wednesday, January 21st. Stephens set a $85.00 price objective on ArcBest in a research report on Tuesday, January 6th. Finally, TD Cowen reissued a “hold” rating on shares of ArcBest in a research note on Friday, January 9th.

Institutional Investors Weigh In On ArcBest

Hedge funds have recently added to or reduced their stakes in the stock. Johnson Investment Counsel Inc. bought a new position in shares of ArcBest in the third quarter worth about $28,000. Smartleaf Asset Management LLC grew its stake in shares of ArcBest by 26.9% during the third quarter. Smartleaf Asset Management LLC now owns 675 shares of the transportation company’s stock valued at $47,000 after purchasing an additional 143 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of ArcBest by 126.6% during the fourth quarter. Federated Hermes Inc. now owns 1,015 shares of the transportation company’s stock valued at $75,000 after purchasing an additional 567 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of ArcBest in the second quarter valued at approximately $85,000. Finally, Hantz Financial Services Inc. increased its holdings in shares of ArcBest by 507.6% in the fourth quarter. Hantz Financial Services Inc. now owns 1,118 shares of the transportation company’s stock valued at $83,000 after purchasing an additional 934 shares in the last quarter. Institutional investors own 99.27% of the company’s stock.

ArcBest Trading Down 1.9%

Shares of ArcBest stock opened at $87.58 on Friday. ArcBest has a 12-month low of $55.19 and a 12-month high of $112.92. The stock has a market capitalization of $1.95 billion, a P/E ratio of 33.56, a price-to-earnings-growth ratio of 0.62 and a beta of 1.48. The company has a 50-day simple moving average of $96.21 and a 200 day simple moving average of $80.41. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.10.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings results on Friday, January 30th. The transportation company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.09). The firm had revenue of $972.69 million during the quarter, compared to analyst estimates of $963.74 million. ArcBest had a net margin of 1.50% and a return on equity of 6.51%. ArcBest’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.33 earnings per share. Research analysts expect that ArcBest will post 7 earnings per share for the current fiscal year.

ArcBest Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 24th. Investors of record on Tuesday, February 10th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Tuesday, February 10th. ArcBest’s payout ratio is currently 18.39%.

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.