ArcBest (NASDAQ:ARCB - Free Report) had its target price increased by JPMorgan Chase & Co. from $75.00 to $89.00 in a research report released on Tuesday,Benzinga reports. The firm currently has a neutral rating on the transportation company's stock.
ARCB has been the subject of a number of other reports. Citigroup lowered their price objective on ArcBest from $83.00 to $66.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. UBS Group increased their price target on ArcBest from $64.00 to $84.00 and gave the stock a "neutral" rating in a research note on Tuesday. Wall Street Zen raised ArcBest from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. Bank of America raised ArcBest from an "underperform" rating to a "neutral" rating and increased their price target for the stock from $63.00 to $74.00 in a research note on Tuesday, June 10th. Finally, Truist Financial decreased their price target on ArcBest from $93.00 to $90.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, ArcBest has an average rating of "Hold" and a consensus target price of $93.17.
Get Our Latest Analysis on ArcBest
ArcBest Stock Performance
ARCB traded down $2.19 during trading on Tuesday, reaching $82.23. 347,815 shares of the company were exchanged, compared to its average volume of 321,916. The stock has a market cap of $1.88 billion, a P/E ratio of 10.88, a PEG ratio of 0.90 and a beta of 1.71. The firm has a 50 day moving average of $69.59 and a 200 day moving average of $76.92. 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 52 week low of $55.19 and a 52 week high of $129.83.
ArcBest (NASDAQ:ARCB - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The transportation company reported $0.51 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). The company had revenue of $967.08 million for the quarter, compared to the consensus estimate of $990.03 million. ArcBest had a return on equity of 10.05% and a net margin of 4.37%. ArcBest's quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.34 earnings per share. On average, sell-side analysts forecast that ArcBest will post 7 EPS for the current fiscal year.
ArcBest Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were paid a dividend of $0.12 per share. The ex-dividend date was Friday, May 9th. This represents a $0.48 annualized dividend and a yield of 0.58%. ArcBest's dividend payout ratio is currently 6.35%.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the company. Arizona State Retirement System boosted its stake in ArcBest by 1.6% during the fourth quarter. Arizona State Retirement System now owns 6,856 shares of the transportation company's stock valued at $640,000 after buying an additional 108 shares in the last quarter. Summit Investment Advisors Inc. boosted its stake in ArcBest by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,463 shares of the transportation company's stock valued at $230,000 after buying an additional 157 shares in the last quarter. Crossmark Global Holdings Inc. boosted its stake in ArcBest by 7.1% during the first quarter. Crossmark Global Holdings Inc. now owns 4,303 shares of the transportation company's stock valued at $304,000 after buying an additional 285 shares in the last quarter. Franklin Resources Inc. boosted its stake in ArcBest by 4.3% during the fourth quarter. Franklin Resources Inc. now owns 7,406 shares of the transportation company's stock valued at $691,000 after buying an additional 305 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in shares of ArcBest by 433.3% during the second quarter. Farther Finance Advisors LLC now owns 384 shares of the transportation company's stock valued at $30,000 after purchasing an additional 312 shares during the last quarter. Institutional investors own 99.27% of the company's stock.
About ArcBest
(
Get Free Report)
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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