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

Key Points

• ArcBest Corporation has received an average rating of "Hold" from 14 brokerages, with one analyst issuing a sell rating, seven holding, and six giving a buy rating.
• The company reported $1.36 earnings per share for the last quarter, which was below the consensus estimate of $1.48, and noted a 5.1% year-over-year decrease in revenue.
• ArcBest recently declared a quarterly dividend of $0.12 per share, representing an annualized yield of 0.7% and a payout ratio of 7.14%.

Shares of ArcBest Corporation (NASDAQ:ARCB - Get Free Report) have earned an average rating of "Hold" from the fourteen brokerages that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $89.1667.

Several equities research analysts recently issued reports on ARCB shares. Stifel Nicolaus reduced their target price on shares of ArcBest from $93.00 to $81.00 and set a "buy" rating for the company in a report on Thursday, July 31st. Zacks Research raised shares of ArcBest to a "strong sell" rating in a research note on Monday, August 11th. Wells Fargo & Company lowered their target price on shares of ArcBest from $90.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 31st. JPMorgan Chase & Co. increased their price target on ArcBest from $75.00 to $89.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Finally, Bank of America raised ArcBest from an "underperform" rating to a "neutral" rating and raised their price target for the company from $63.00 to $74.00 in a report on Tuesday, June 10th.

Institutional Investors Weigh In On ArcBest

Several institutional investors and hedge funds have recently modified their holdings of the stock. Signaturefd LLC boosted its position in shares of ArcBest by 477.6% during the first quarter. Signaturefd LLC now owns 387 shares of the transportation company's stock worth $27,000 after acquiring an additional 320 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in ArcBest by 433.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 384 shares of the transportation company's stock worth $30,000 after purchasing an additional 312 shares in the last quarter. CWM LLC lifted its stake in ArcBest by 338.8% in the 1st quarter. CWM LLC now owns 452 shares of the transportation company's stock worth $32,000 after purchasing an additional 349 shares in the last quarter. FNY Investment Advisers LLC bought a new position in shares of ArcBest during the 2nd quarter valued at about $51,000. Finally, Curat Global LLC purchased a new position in shares of ArcBest during the first quarter valued at about $82,000. Institutional investors own 99.27% of the company's stock.

ArcBest Trading Down 0.9%

Shares of ARCB stock opened at $68.46 on Friday. ArcBest has a 1 year low of $55.19 and a 1 year high of $123.25. The firm has a fifty day moving average price of $73.77 and a 200-day moving average price of $70.41. The company has a market cap of $1.56 billion, a price-to-earnings ratio of 10.19, a PEG ratio of 1.22 and a beta of 1.69. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.96 and a quick ratio of 0.96.

ArcBest (NASDAQ:ARCB - Get Free Report) last released its earnings results 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). The company had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.03 billion. ArcBest had a net margin of 3.90% and a return on equity of 8.67%. ArcBest's revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.98 earnings per share. As a group, equities analysts predict that ArcBest will post 7 earnings per share for the current year.

ArcBest Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $0.48 dividend on an annualized basis and a yield of 0.7%. ArcBest's payout ratio is currently 7.14%.

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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