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

Key Points

• ArcBest Corporation (NASDAQ:ARCB) has an average rating of "Hold" from fourteen brokerage firms, with one sell rating, seven holds, and six buys.
• The company reported $1.36 EPS for its last quarter, missing analysts' expectations of $1.48, and had a revenue of $1.02 billion, which was also below the consensus estimate.
• ArcBest declared a quarterly dividend of $0.12 per share, representing an annualized dividend yield of 0.7% and a payout ratio of 7.14%.

ArcBest Corporation (NASDAQ:ARCB - Get Free Report) has been given an average rating of "Hold" by the fourteen ratings firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $90.00.

ARCB has been the subject of a number of recent research reports. Wall Street Zen upgraded ArcBest from a "sell" rating to a "hold" rating in a report on Friday, May 9th. The Goldman Sachs Group upgraded ArcBest from a "neutral" rating to a "buy" rating and increased their price objective for the company from $84.00 to $101.00 in a report on Monday, June 2nd. Citigroup increased their price objective on ArcBest from $67.00 to $89.00 and gave the company a "neutral" rating in a report on Wednesday, July 9th. JPMorgan Chase & Co. increased their price target on ArcBest from $75.00 to $89.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Finally, Stifel Nicolaus decreased their price target on ArcBest from $93.00 to $81.00 and set a "buy" rating for the company in a report on Thursday, July 31st.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ARCB. First Trust Advisors LP raised its stake in ArcBest by 31.6% during the 4th quarter. First Trust Advisors LP now owns 29,086 shares of the transportation company's stock worth $2,714,000 after buying an additional 6,985 shares during the period. Northern Trust Corp raised its stake in ArcBest by 1.5% during the 4th quarter. Northern Trust Corp now owns 400,005 shares of the transportation company's stock worth $37,328,000 after buying an additional 5,739 shares during the period. Lido Advisors LLC bought a new position in ArcBest in the 4th quarter valued at about $211,000. Algert Global LLC bought a new position in ArcBest in the 4th quarter valued at about $571,000. Finally, Balyasny Asset Management L.P. bought a new position in ArcBest in the 4th quarter valued at about $545,000. 99.27% of the stock is owned by institutional investors and hedge funds.

ArcBest Stock Up 0.8%

NASDAQ ARCB opened at $73.76 on Tuesday. The business has a fifty day moving average price of $76.96 and a two-hundred day moving average price of $71.60. 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 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 $1.68 billion, a PE ratio of 10.98, a PEG ratio of 0.85 and a beta of 1.69.

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

ArcBest Announces Dividend

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

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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