ArcBest (ARCB) Raised to “Buy” at ValuEngine
ValuEngine upgraded shares of ArcBest (NASDAQ:ARCB) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.
A number of other research firms have also recently commented on ARCB. BidaskClub raised shares of ArcBest from a hold rating to a buy rating in a report on Saturday, December 2nd. Stifel Nicolaus cut shares of ArcBest from a hold rating to a sell rating and lifted their price target for the stock from $27.00 to $32.00 in a report on Wednesday, December 13th. Zacks Investment Research raised shares of ArcBest from a hold rating to a buy rating and set a $41.00 price target on the stock in a report on Tuesday, January 16th. Seaport Global Securities reaffirmed a neutral rating on shares of ArcBest in a report on Tuesday, January 16th. Finally, Cowen reaffirmed a market perform rating and issued a $39.00 price target (up previously from $33.00) on shares of ArcBest in a report on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. ArcBest presently has an average rating of Hold and a consensus target price of $35.88.
ArcBest (ARCB) opened at $34.80 on Friday. ArcBest has a 12 month low of $16.95 and a 12 month high of $39.70. The firm has a market capitalization of $907.71, a P/E ratio of 15.54 and a beta of 1.73. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.32.
The business also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Friday, February 9th were issued a $0.08 dividend. The ex-dividend date was Thursday, February 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.92%. ArcBest’s dividend payout ratio (DPR) is presently 14.29%.
Large investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. raised its holdings in ArcBest by 22.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 681,535 shares of the transportation company’s stock valued at $24,365,000 after acquiring an additional 126,959 shares during the period. Acadian Asset Management LLC raised its holdings in ArcBest by 80.6% during the 4th quarter. Acadian Asset Management LLC now owns 227,651 shares of the transportation company’s stock valued at $8,139,000 after acquiring an additional 101,593 shares during the period. Algert Global LLC bought a new stake in ArcBest during the 3rd quarter valued at $2,824,000. Cornerstone Capital Management Holdings LLC. raised its holdings in ArcBest by 125.3% during the 4th quarter. Cornerstone Capital Management Holdings LLC. now owns 146,900 shares of the transportation company’s stock valued at $5,251,000 after acquiring an additional 81,700 shares during the period. Finally, Spark Investment Management LLC raised its holdings in ArcBest by 41.5% during the 4th quarter. Spark Investment Management LLC now owns 174,300 shares of the transportation company’s stock valued at $6,231,000 after acquiring an additional 51,100 shares during the period. 88.73% of the stock is currently owned by institutional investors.
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ArcBest Corporation is a holding company of businesses providing integrated logistics solutions. The Company operates through three segments: Asset-Based, which consists of ABF Freight System, Inc and other subsidiaries; ArcBest, which represents the consolidation of the operations of the Premium Logistics, Transportation Management and Household Goods Moving Services segments, and FleetNet, which includes the results of operations of FleetNet America, Inc (FleetNet).
To view ValuEngine’s full report, visit ValuEngine’s official website.
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