ArcBest Corporation (NASDAQ:ARCB) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• ArcBest Corporation (NASDAQ:ARCB) has received a consensus recommendation of "Hold" from fifteen brokerages, with a price target averaging $90.00.
• The company reported a quarterly earnings per share of $1.36, missing analysts' expectations, along with a revenue decrease of 5.1% compared to the previous year.
• ArcBest recently declared a quarterly dividend of $0.12 per share, equating to an annualized yield of 0.6% 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 fifteen brokerages that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $90.00.

ARCB has been the topic of a number of research analyst reports. TD Cowen decreased their target price on ArcBest from $72.00 to $67.00 and set a "hold" rating on the stock in a research report on Wednesday, October 1st. UBS Group increased their price target on ArcBest from $73.00 to $80.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 30th. JPMorgan Chase & Co. boosted their target price on shares of ArcBest from $85.00 to $87.00 and gave the company a "neutral" rating in a report on Wednesday, October 8th. Wells Fargo & Company cut their price objective on ArcBest from $90.00 to $80.00 and set an "equal weight" rating on the stock in a report on Thursday, July 31st. Finally, Stifel Nicolaus reduced their target price on shares of ArcBest from $93.00 to $81.00 and set a "buy" rating on the stock in a report on Thursday, July 31st.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ARCB. Crossmark Global Holdings Inc. grew its holdings in shares of ArcBest by 7.1% during 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 during the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of ArcBest in the 1st quarter valued at about $381,000. GAMMA Investing LLC increased its stake in ArcBest by 185.3% in the first quarter. GAMMA Investing LLC now owns 1,435 shares of the transportation company's stock valued at $101,000 after purchasing an additional 932 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in ArcBest by 23.4% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 41,971 shares of the transportation company's stock worth $3,232,000 after buying an additional 7,955 shares during the period. Finally, Strs Ohio acquired a new stake in shares of ArcBest during the first quarter worth about $473,000. Institutional investors and hedge funds own 99.27% of the company's stock.

ArcBest Stock Up 2.4%

Shares of NASDAQ ARCB opened at $77.09 on Wednesday. The business has a 50-day moving average of $72.34 and a two-hundred day moving average of $70.48. ArcBest has a 1 year low of $55.19 and a 1 year high of $123.25. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 11.47, a price-to-earnings-growth ratio of 1.40 and a beta of 1.66.

ArcBest (NASDAQ:ARCB - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.36 earnings per share for the quarter, missing analysts' consensus estimates of $1.48 by ($0.12). The firm had revenue of $1.02 billion during 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 quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.98 EPS. On average, analysts forecast that ArcBest will post 7 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were given a dividend of $0.12 per share. 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 0.6%. ArcBest's payout ratio is 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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