ArcBest Corp. (ARCB) Receives Average Rating of “Hold” from Analysts
Shares of ArcBest Corp. (NASDAQ:ARCB) have earned a consensus recommendation of “Hold” from the nine analysts that are currently covering the firm. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $22.00.
A number of analysts have recently issued reports on ARCB shares. Zacks Investment Research downgraded ArcBest Corp. from a “hold” rating to a “strong sell” rating in a research report on Wednesday, September 28th. Buckingham Research started coverage on ArcBest Corp. in a report on Friday, September 23rd. They set a “buy” rating and a $24.00 price objective on the stock. Citigroup Inc. raised their price objective on ArcBest Corp. from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, September 8th. Deutsche Bank AG started coverage on ArcBest Corp. in a report on Wednesday, November 2nd. They set a “hold” rating and a $21.00 price objective on the stock. Finally, Bank of America Corp. raised ArcBest Corp. from an “underperform” rating to a “neutral” rating in a report on Friday, November 4th. They noted that the move was a valuation call.
Shares of ArcBest Corp. (NASDAQ:ARCB) traded up 1.75% during mid-day trading on Tuesday, reaching $29.10. The company had a trading volume of 55,767 shares. The stock has a 50 day moving average price of $22.38 and a 200 day moving average price of $18.81. ArcBest Corp. has a 12-month low of $14.85 and a 12-month high of $29.95. The firm has a market capitalization of $745.60 million, a PE ratio of 34.98 and a beta of 1.42.
ArcBest Corp. (NASDAQ:ARCB) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.01. The firm earned $713.90 million during the quarter, compared to the consensus estimate of $422.62 million. ArcBest Corp. had a return on equity of 3.81% and a net margin of 0.83%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the company posted $0.76 EPS. On average, equities analysts forecast that ArcBest Corp. will post $0.89 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 29th. Shareholders of record on Tuesday, November 15th will be paid a $0.08 dividend. The ex-dividend date is Thursday, November 10th. This represents a $0.32 dividend on an annualized basis and a yield of 1.12%. ArcBest Corp.’s dividend payout ratio (DPR) is currently 38.55%.
A number of institutional investors have recently made changes to their positions in the company. BlackRock Fund Advisors boosted its position in shares of ArcBest Corp. by 7.8% in the third quarter. BlackRock Fund Advisors now owns 1,771,149 shares of the company’s stock worth $33,687,000 after buying an additional 127,948 shares during the period. JPMorgan Chase & Co. boosted its position in shares of ArcBest Corp. by 1.7% in the third quarter. JPMorgan Chase & Co. now owns 1,618,334 shares of the company’s stock worth $30,780,000 after buying an additional 27,131 shares during the period. State of Wisconsin Investment Board boosted its position in shares of ArcBest Corp. by 5.8% in the second quarter. State of Wisconsin Investment Board now owns 1,119,578 shares of the company’s stock worth $18,193,000 after buying an additional 60,900 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in shares of ArcBest Corp. by 26.2% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 899,118 shares of the company’s stock worth $17,101,000 after buying an additional 186,810 shares during the period. Finally, Towle & Co. boosted its position in shares of ArcBest Corp. by 1.3% in the third quarter. Towle & Co. now owns 788,186 shares of the company’s stock worth $14,991,000 after buying an additional 9,860 shares during the period. 84.19% of the stock is currently owned by institutional investors and hedge funds.
About ArcBest Corp.
ArcBest Corporation is a holding company of businesses providing freight transportation services and logistics solutions. The Company operates through five segments: Freight Transportation (ABF Freight) segment, Premium Logistics (Panther), Transportation Management (ABF Logistics), Emergency & Preventative Maintenance (FleetNet) and Household Goods Moving Services (ABF Moving).
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