ArcBest Corporation (NASDAQ:ARCB) Receives $85.67 Consensus Target Price from Analysts

Shares of ArcBest Corporation (NASDAQ:ARCB) have earned an average recommendation of “Hold” from the fifteen research firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $85.6667.

A number of analysts have issued reports on the company. Morgan Stanley cut their target price on ArcBest from $140.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, July 31st. Stephens downgraded ArcBest from an “overweight” rating to an “equal weight” rating and set a $72.00 price objective on the stock. in a report on Thursday, November 6th. Cowen restated a “hold” rating on shares of ArcBest in a report on Wednesday, October 1st. Wells Fargo & Company dropped their target price on ArcBest from $80.00 to $74.00 and set an “equal weight” rating for the company in a research report on Thursday, November 6th. Finally, Zacks Research raised shares of ArcBest to a “strong sell” rating in a research report on Monday, August 11th.

ArcBest Trading Up 0.4%

NASDAQ ARCB opened at $62.75 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market capitalization of $1.41 billion, a P/E ratio of 9.34, a PEG ratio of 1.35 and a beta of 1.67. The firm’s 50-day moving average is $70.66 and its two-hundred day moving average is $71.71. ArcBest has a 12 month low of $55.19 and a 12 month high of $115.76.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings results on Wednesday, November 5th. The transportation company reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.09. ArcBest had a net margin of 3.90% and a return on equity of 8.67%. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the firm earned $1.64 EPS. The business’s revenue was down 1.4% on a year-over-year basis. On average, sell-side analysts anticipate that ArcBest will post 7 earnings per share for the current year.

ArcBest Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be issued a dividend of $0.12 per share. The ex-dividend date is Friday, November 14th. This represents a $0.48 dividend on an annualized basis and a yield of 0.8%. ArcBest’s dividend payout ratio is 11.40%.

Institutional Trading of ArcBest

A number of large investors have recently modified their holdings of the stock. Signaturefd LLC boosted its holdings in ArcBest by 477.6% in the first quarter. Signaturefd LLC now owns 387 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 320 shares during the period. Johnson Investment Counsel Inc. acquired a new stake in ArcBest in the 3rd quarter valued at about $28,000. Farther Finance Advisors LLC boosted its stake in shares of ArcBest by 433.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 384 shares of the transportation company’s stock valued at $30,000 after buying an additional 312 shares during the period. CWM LLC grew its position in shares of ArcBest by 338.8% during the first quarter. CWM LLC now owns 452 shares of the transportation company’s stock worth $32,000 after buying an additional 349 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in shares of ArcBest by 26.9% during the third quarter. Smartleaf Asset Management LLC now owns 675 shares of the transportation company’s stock worth $47,000 after buying an additional 143 shares during the period. Hedge funds and other institutional investors own 99.27% of the company’s stock.

ArcBest Company Profile

ArcBest Corporation, an integrated logistics company, engages in the provision of ground, air, and ocean transportation solutions. It operates through two segments: Asset-Based and Asset-Light. The Asset-Based segment provides less-than-truckload (LTL) services, that transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, non-bulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products.