ArcBest Corporation (NASDAQ:ARCB) Receives Average Recommendation of "Hold" from Brokerages

ArcBest Corporation (NASDAQ:ARCB - Get Free Report) has been given a consensus rating of "Hold" by the thirteen analysts that are currently covering the firm, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $89.42.

ARCB has been the subject of several research reports. UBS Group reduced their price objective on shares of ArcBest from $100.00 to $64.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. Truist Financial reduced their price objective on shares of ArcBest from $93.00 to $90.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Stephens restated an "overweight" rating and set a $116.00 price objective on shares of ArcBest in a research report on Tuesday, March 11th. Wall Street Zen upgraded shares of ArcBest from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Finally, Jefferies Financial Group restated a "buy" rating and set a $85.00 price objective (up previously from $75.00) on shares of ArcBest in a research report on Tuesday, June 10th.

ArcBest Price Performance

ARCB traded up $0.57 on Thursday, reaching $68.78. The company had a trading volume of 477,658 shares, compared to its average volume of 310,318. The company has a fifty day moving average of $63.85 and a 200-day moving average of $79.15. The company has a market capitalization of $1.58 billion, a P/E ratio of 9.10, a PEG ratio of 0.73 and a beta of 1.68. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. ArcBest has a one year low of $55.19 and a one year high of $129.83.

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

ArcBest Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.70%. The ex-dividend date was Friday, May 9th. ArcBest's payout ratio is 6.35%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ARCB. Arizona State Retirement System lifted its position in shares of ArcBest by 1.6% in the fourth quarter. Arizona State Retirement System now owns 6,856 shares of the transportation company's stock worth $640,000 after purchasing an additional 108 shares in the last quarter. Summit Investment Advisors Inc. lifted its position in shares of ArcBest by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,463 shares of the transportation company's stock worth $230,000 after purchasing an additional 157 shares in the last quarter. Blue Trust Inc. lifted its position in shares of ArcBest by 146.3% in the fourth quarter. Blue Trust Inc. now owns 298 shares of the transportation company's stock worth $28,000 after purchasing an additional 177 shares in the last quarter. Crossmark Global Holdings Inc. lifted its position in shares of ArcBest by 7.1% in the first quarter. Crossmark Global Holdings Inc. now owns 4,303 shares of the transportation company's stock worth $304,000 after purchasing an additional 285 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of ArcBest by 4.3% in the fourth quarter. Franklin Resources Inc. now owns 7,406 shares of the transportation company's stock worth $691,000 after purchasing an additional 305 shares in the last quarter. 99.27% of the stock is currently owned by institutional investors and hedge funds.

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.