ArcBest Corporation (NASDAQ:ARCB - Get Free Report) has been given an average rating of "Hold" by the thirteen analysts that are currently covering the stock, Marketbeat Ratings 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 target among brokers that have issued ratings on the stock in the last year is $93.17.
A number of equities research analysts have recently weighed in on the stock. UBS Group raised their price target on shares of ArcBest from $64.00 to $84.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Bank of America upgraded shares of ArcBest from an "underperform" rating to a "neutral" rating and raised their price objective for the company from $63.00 to $74.00 in a report on Tuesday, June 10th. JPMorgan Chase & Co. raised their price target on shares of ArcBest from $75.00 to $89.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Truist Financial dropped their price target on shares of ArcBest from $93.00 to $90.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Finally, TD Cowen dropped their price target on shares of ArcBest from $80.00 to $72.00 and set a "hold" rating on the stock in a research report on Wednesday, April 30th.
Read Our Latest Stock Analysis on ArcBest
ArcBest Stock Down 2.6%
ARCB opened at $82.23 on Monday. The company has a market capitalization of $1.88 billion, a P/E ratio of 10.88, a P/E/G ratio of 0.88 and a beta of 1.71. The firm's fifty day moving average price is $69.59 and its two-hundred day moving average price is $76.67. ArcBest has a fifty-two week low of $55.19 and a fifty-two week high of $129.83. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.00 and a quick ratio of 1.00.
ArcBest (NASDAQ:ARCB - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The transportation company reported $0.51 earnings per share 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 firm had revenue of $967.08 million for the quarter, compared to the consensus estimate of $990.03 million. During the same period in the prior year, the firm posted $1.34 earnings per share. The business's revenue for the quarter was down 6.7% compared to the same quarter last year. On average, analysts anticipate that ArcBest will post 7 EPS for the current year.
ArcBest Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $0.48 dividend on an annualized basis and a yield of 0.58%. ArcBest's payout ratio is currently 6.35%.
Institutional Investors Weigh In On ArcBest
Several institutional investors have recently made changes to their positions in ARCB. Nuveen LLC acquired a new stake in ArcBest during the 1st quarter worth approximately $18,460,000. Westwood Holdings Group Inc. grew its position in shares of ArcBest by 36.7% during the first quarter. Westwood Holdings Group Inc. now owns 869,267 shares of the transportation company's stock worth $61,353,000 after buying an additional 233,409 shares in the last quarter. Alliancebernstein L.P. grew its position in shares of ArcBest by 9.4% during the fourth quarter. Alliancebernstein L.P. now owns 2,571,917 shares of the transportation company's stock worth $240,011,000 after buying an additional 220,325 shares in the last quarter. Ancora Advisors LLC boosted its holdings in ArcBest by 1,812.9% in the first quarter. Ancora Advisors LLC now owns 204,587 shares of the transportation company's stock worth $14,440,000 after purchasing an additional 193,892 shares during the period. Finally, Federated Hermes Inc. acquired a new position in ArcBest in the first quarter worth $9,202,000. 99.27% of the stock is currently owned by hedge funds and other institutional investors.
About ArcBest
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Get Free ReportArcBest 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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