ArcBest Corp. (ARCB) Raised to “Buy” at TheStreet
A number of other equities analysts also recently weighed in on ARCB. Zacks Investment Research raised shares of ArcBest Corp. from a strong sell rating to a hold rating in a report on Tuesday, August 9th. Citigroup Inc. boosted their price target on shares of ArcBest Corp. from $17.00 to $20.00 and gave the stock a neutral rating in a report on Thursday, September 8th. Buckingham Research began coverage on shares of ArcBest Corp. in a report on Friday, September 23rd. They issued a buy rating and a $24.00 price target on the stock. Cowen and Company boosted their price target on shares of ArcBest Corp. from $21.00 to $25.00 and gave the stock an outperform rating in a report on Friday, November 4th. Finally, Deutsche Bank AG began coverage on shares of ArcBest Corp. in a report on Wednesday, November 2nd. They issued a hold rating and a $21.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $21.43.
Shares of ArcBest Corp. (NASDAQ:ARCB) opened at 30.45 on Monday. ArcBest Corp. has a 52 week low of $14.85 and a 52 week high of $30.60. The firm has a market capitalization of $780.19 million, a P/E ratio of 36.60 and a beta of 1.42. The firm’s 50-day moving average is $23.55 and its 200-day moving average is $19.19.
ArcBest Corp. (NASDAQ:ARCB) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.01. The company had revenue of $713.90 million for the quarter, compared to the consensus estimate of $422.62 million. ArcBest Corp. had a net margin of 0.83% and a return on equity of 3.81%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.76 EPS. Equities analysts anticipate that ArcBest Corp. will post $0.89 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 29th. Investors of record on Tuesday, November 15th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.05%. The ex-dividend date was Thursday, November 10th. ArcBest Corp.’s dividend payout ratio (DPR) is 38.55%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Prudential Financial Inc. boosted its position in ArcBest Corp. by 23.0% in the second quarter. Prudential Financial Inc. now owns 460,609 shares of the company’s stock valued at $7,485,000 after buying an additional 86,017 shares during the period. Aristotle Capital Boston LLC boosted its position in ArcBest Corp. by 3.2% in the second quarter. Aristotle Capital Boston LLC now owns 203,822 shares of the company’s stock valued at $3,312,000 after buying an additional 6,412 shares during the period. JPMorgan Chase & Co. boosted its position in ArcBest Corp. by 3.4% in the second quarter. JPMorgan Chase & Co. now owns 1,591,203 shares of the company’s stock valued at $25,856,000 after buying an additional 52,043 shares during the period. SECOR Capital Advisors LP bought a new position in ArcBest Corp. during the second quarter valued at $396,000. Finally, Boston Partners boosted its position in ArcBest Corp. by 55.6% in the second quarter. Boston Partners now owns 115,937 shares of the company’s stock valued at $1,884,000 after buying an additional 41,437 shares during the period. Institutional investors own 84.86% of the company’s stock.
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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