ArcBest Corporation (NASDAQ:ARCB) Given Average Rating of "Hold" by Brokerages

Key Points

• ArcBest Corporation has received a consensus rating of "Hold" from thirteen brokerage firms, with seven analysts recommending a hold and six suggesting a buy.
• The company's stock recently opened at $71.65, with a 52-week high of $123.25 and a revenue decline of 5.1% year-over-year.
• ArcBest declared a quarterly dividend of $0.12 per share, representing an annualized yield of 0.7%, set to be paid on August 22nd.

Shares of ArcBest Corporation (NASDAQ:ARCB - Get Free Report) have earned a consensus rating of "Hold" from the thirteen ratings firms that are presently covering the company, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $90.00.

Several equities research analysts have recently commented on the company. Morgan Stanley lowered their target price on ArcBest from $140.00 to $130.00 and set an "overweight" rating for the company in a research note on Thursday, July 31st. Citigroup lifted their price objective on ArcBest from $67.00 to $89.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 9th. Wall Street Zen raised ArcBest from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $85.00 target price (up previously from $75.00) on shares of ArcBest in a research note on Tuesday, June 10th. Finally, Wells Fargo & Company lowered their price target on shares of ArcBest from $90.00 to $80.00 and set an "equal weight" rating for the company in a research report on Thursday, July 31st.

ArcBest Stock Performance

Shares of NASDAQ:ARCB opened at $71.65 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.96 and a quick ratio of 1.00. The business's fifty day moving average price is $74.94 and its two-hundred day moving average price is $74.60. ArcBest has a fifty-two week low of $55.19 and a fifty-two week high of $123.25. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 10.66, a price-to-earnings-growth ratio of 0.85 and a beta of 1.69.

ArcBest (NASDAQ:ARCB - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.48 by ($0.12). ArcBest had a return on equity of 8.67% and a net margin of 3.90%. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the business posted $1.98 EPS. The business's quarterly revenue was down 5.1% on a year-over-year basis. As a group, analysts predict that ArcBest will post 7 EPS for the current fiscal year.

ArcBest Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, August 8th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Friday, August 8th. ArcBest's dividend payout ratio is 7.14%.

Hedge Funds Weigh In On ArcBest

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. bought a new position in ArcBest during the second quarter worth $1,759,000. Partners Group Holding AG boosted its holdings in shares of ArcBest by 23.2% during the 2nd quarter. Partners Group Holding AG now owns 147,476 shares of the transportation company's stock worth $11,357,000 after buying an additional 27,797 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of ArcBest by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 192,618 shares of the transportation company's stock worth $14,834,000 after buying an additional 812 shares during the period. South Dakota Investment Council grew its stake in ArcBest by 138.5% in the 2nd quarter. South Dakota Investment Council now owns 9,300 shares of the transportation company's stock valued at $716,000 after buying an additional 5,400 shares during the last quarter. Finally, Wincap Financial LLC raised its holdings in ArcBest by 20.6% in the 2nd quarter. Wincap Financial LLC now owns 13,569 shares of the transportation company's stock valued at $1,045,000 after acquiring an additional 2,314 shares during the period. 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.

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