ArcBest Corporation (NASDAQ:ARCB) Given Average Recommendation of "Hold" by Analysts

ArcBest Corporation (NASDAQ:ARCB - Get Free Report) has received an average recommendation of "Hold" from the thirteen brokerages that are covering the company, MarketBeat reports. Seven analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $89.42.

ARCB has been the topic of a number of recent research reports. Wells Fargo & Company reduced their target price on shares of ArcBest from $80.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 30th. Citigroup decreased their target price on shares of ArcBest from $83.00 to $66.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. TD Cowen dropped their price target on ArcBest from $80.00 to $72.00 and set a "hold" rating on the stock in a research report on Wednesday, April 30th. Stifel Nicolaus reduced their price objective on ArcBest from $102.00 to $83.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Finally, The Goldman Sachs Group upgraded ArcBest from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $84.00 to $101.00 in a research note on Monday, June 2nd.

Institutional Trading of ArcBest

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. raised its position in shares of ArcBest by 6.0% during the 4th quarter. Victory Capital Management Inc. now owns 232,627 shares of the transportation company's stock valued at $21,709,000 after purchasing an additional 13,152 shares during the period. Sanctuary Advisors LLC increased its stake in ArcBest by 7.4% in the 4th quarter. Sanctuary Advisors LLC now owns 4,429 shares of the transportation company's stock worth $419,000 after buying an additional 306 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in ArcBest by 41.5% during the fourth quarter. Teacher Retirement System of Texas now owns 3,190 shares of the transportation company's stock valued at $298,000 after acquiring an additional 935 shares during the period. Norges Bank purchased a new position in shares of ArcBest in the fourth quarter valued at about $5,826,000. Finally, Principal Financial Group Inc. boosted its stake in shares of ArcBest by 1.9% in the fourth quarter. Principal Financial Group Inc. now owns 114,189 shares of the transportation company's stock worth $10,656,000 after acquiring an additional 2,169 shares during the period. Hedge funds and other institutional investors own 99.27% of the company's stock.

ArcBest Price Performance

Shares of ArcBest stock opened at $68.21 on Thursday. The business has a 50 day moving average of $63.63 and a 200 day moving average of $80.12. ArcBest has a 52 week low of $55.19 and a 52 week high of $129.83. The company has a market cap of $1.56 billion, a PE ratio of 9.02, a P/E/G ratio of 0.72 and a beta of 1.68. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.11.

ArcBest (NASDAQ:ARCB - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The transportation company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). ArcBest had a return on equity of 10.05% and a net margin of 4.37%. The company had revenue of $967.08 million during the quarter, compared to the consensus estimate of $990.03 million. During the same quarter last year, the company posted $1.34 earnings per share. The firm's revenue for the quarter was down 6.7% compared to the same quarter last year. As a group, equities research analysts forecast that ArcBest will post 7 earnings per share for the current year.

ArcBest Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date was Friday, May 9th. ArcBest's payout ratio is 6.35%.

About ArcBest

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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