TheStreet upgraded shares of ArcBest (NASDAQ:ARCB) from a c rating to a b- rating in a research report released on Wednesday morning, TheStreetRatingsTable reports.
A number of other brokerages have also weighed in on ARCB. SunTrust Banks upped their target price on shares of ArcBest from $25.00 to $35.00 and gave the stock a buy rating in a research note on Friday, July 17th. Zacks Investment Research lowered shares of ArcBest from a buy rating to a hold rating in a research note on Thursday, July 23rd. ValuEngine lowered shares of ArcBest from a hold rating to a sell rating in a research note on Thursday. BidaskClub raised shares of ArcBest from a hold rating to a buy rating in a research note on Tuesday, July 28th. Finally, Cowen reaffirmed a buy rating and issued a $39.00 target price on shares of ArcBest in a research note on Wednesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. The company has a consensus rating of Buy and an average target price of $31.33.
ARCB opened at $30.39 on Wednesday. The company has a quick ratio of 2.06, a current ratio of 2.05 and a debt-to-equity ratio of 0.70. ArcBest has a 12 month low of $13.54 and a 12 month high of $33.53. The company has a fifty day simple moving average of $26.99 and a 200 day simple moving average of $22.99. The stock has a market cap of $767.65 million, a P/E ratio of 28.14, a P/E/G ratio of 3.41 and a beta of 1.60.
ArcBest (NASDAQ:ARCB) last released its quarterly earnings data on Wednesday, July 29th. The transportation company reported $0.67 EPS for the quarter. ArcBest had a net margin of 1.01% and a return on equity of 8.99%. The business had revenue of $627.37 million during the quarter, compared to analysts’ expectations of $638.73 million. On average, equities research analysts expect that ArcBest will post 1.02 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, August 7th will be given a $0.08 dividend. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $0.32 dividend on an annualized basis and a yield of 1.05%. ArcBest’s dividend payout ratio is currently 11.11%.
Several large investors have recently modified their holdings of ARCB. Invesco Ltd. raised its stake in ArcBest by 3.9% during the first quarter. Invesco Ltd. now owns 257,732 shares of the transportation company’s stock worth $4,516,000 after buying an additional 9,768 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in ArcBest by 20.5% during the first quarter. JPMorgan Chase & Co. now owns 1,608,673 shares of the transportation company’s stock worth $28,185,000 after purchasing an additional 273,374 shares during the last quarter. Stone Ridge Asset Management LLC purchased a new position in ArcBest in the second quarter valued at about $218,000. Man Group plc boosted its stake in ArcBest by 1.2% in the fourth quarter. Man Group plc now owns 82,702 shares of the transportation company’s stock valued at $2,282,000 after acquiring an additional 986 shares during the last quarter. Finally, State Street Corp boosted its stake in ArcBest by 17.0% in the first quarter. State Street Corp now owns 978,939 shares of the transportation company’s stock valued at $17,151,000 after acquiring an additional 141,956 shares during the last quarter. Institutional investors own 88.47% of the company’s stock.
ArcBest Company Profile
ArcBest Corporation provides freight transportation services and integrated logistics solutions worldwide. It operates through three segments: Asset-Based, ArcBest, and FleetNet. The Asset-Based segment transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, nonbulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products through less-than-truckload services.
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