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

ArcBest Corporation (NASDAQ:ARCB) has been assigned an average rating of “Hold” from the fifteen brokerages that are presently covering the company, MarketBeat.com reports. Nine equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $91.5833.

A number of brokerages recently issued reports on ARCB. Zacks Research upgraded ArcBest from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Weiss Ratings reissued a “hold (c-)” rating on shares of ArcBest in a research note on Wednesday, October 8th. Citigroup raised their price target on ArcBest from $83.00 to $104.00 and gave the stock a “buy” rating in a research note on Wednesday. TD Cowen lifted their price target on shares of ArcBest from $64.00 to $97.00 and gave the company a “hold” rating in a report on Friday. Finally, Stephens set a $85.00 price objective on shares of ArcBest in a report on Tuesday.

Institutional Trading of ArcBest

Several large investors have recently bought and sold shares of ARCB. Smartleaf Asset Management LLC grew 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. Capital Advisors Inc. OK boosted its position in shares of ArcBest by 3.4% during the third quarter. Capital Advisors Inc. OK now owns 4,375 shares of the transportation company’s stock valued at $306,000 after purchasing an additional 145 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of ArcBest by 11.7% during the second quarter. GAMMA Investing LLC now owns 1,603 shares of the transportation company’s stock valued at $123,000 after purchasing an additional 168 shares in the last quarter. Rhumbline Advisers grew its stake in ArcBest by 0.3% in the third quarter. Rhumbline Advisers now owns 69,115 shares of the transportation company’s stock worth $4,829,000 after purchasing an additional 180 shares during the period. Finally, SummerHaven Investment Management LLC raised its holdings in ArcBest by 3.2% in the second quarter. SummerHaven Investment Management LLC now owns 7,590 shares of the transportation company’s stock worth $585,000 after purchasing an additional 233 shares in the last quarter. 99.27% of the stock is owned by institutional investors.

ArcBest Stock Up 1.0%

Shares of ArcBest stock opened at $87.57 on Monday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.98 and a current ratio of 0.98. ArcBest has a 52-week low of $55.19 and a 52-week high of $103.63. The company’s 50 day moving average price is $71.81 and its 200-day moving average price is $73.73. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of 20.80, a P/E/G ratio of 10.04 and a beta of 1.51.

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

ArcBest Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Friday, November 14th. ArcBest’s dividend payout ratio is presently 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.