ArcBest Corporation (NASDAQ:ARCB – Get Free Report) declared a quarterly dividend on Friday, July 24th. Shareholders of record on Friday, August 7th will be paid a dividend of 0.12 per share by the transportation company on Friday, August 21st. This represents a c) dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Friday, August 7th.
ArcBest has increased its dividend payment by an average of 0.1%per year over the last three years. ArcBest has a payout ratio of 6.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect ArcBest to earn $9.50 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 5.1%.
ArcBest Stock Up 4.9%
ARCB stock opened at $144.31 on Wednesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $3.21 billion, a price-to-earnings ratio of 209.14, a PEG ratio of 0.45 and a beta of 1.57. The business’s fifty day moving average price is $149.47 and its two-hundred day moving average price is $120.55. ArcBest has a fifty-two week low of $59.43 and a fifty-two week high of $176.69.
Analysts Set New Price Targets
Several brokerages have recently commented on ARCB. Citizens Jmp began coverage on shares of ArcBest in a report on Wednesday, July 15th. They set a “market outperform” rating and a $180.00 target price on the stock. Truist Financial boosted their price target on ArcBest from $145.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. TD Cowen reduced their price target on ArcBest from $175.00 to $155.00 and set a “hold” rating on the stock in a research report on Thursday, July 30th. Wells Fargo & Company raised their price objective on ArcBest from $130.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Friday, June 5th. Finally, Wall Street Zen raised ArcBest from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $154.23.
View Our Latest Analysis on ArcBest
About ArcBest
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.
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