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

ArcBest Corporation (NASDAQ:ARCB - Get Free Report) has received an average rating of "Hold" from the fifteen analysts that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $85.6667.

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Several equities research analysts have commented on ARCB shares. Citigroup upgraded ArcBest from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $79.00 to $89.00 in a research report on Wednesday, October 8th. Weiss Ratings restated a "hold (c-)" rating on shares of ArcBest in a research note on Wednesday, October 8th. TD Cowen lowered their target price on shares of ArcBest from $67.00 to $64.00 and set a "hold" rating for the company in a report on Thursday, November 6th. Stephens cut ArcBest from an "overweight" rating to an "equal weight" rating and set a $72.00 price target for the company. in a research note on Thursday, November 6th. Finally, Stifel Nicolaus lifted their price objective on ArcBest from $81.00 to $85.00 and gave the stock a "buy" rating in a report on Tuesday, October 28th.

Check Out Our Latest Analysis on ArcBest

ArcBest Trading Down 2.2%

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Shares of ARCB stock opened at $63.96 on Friday. The stock has a fifty day simple moving average of $71.09 and a two-hundred day simple moving average of $71.58. ArcBest has a 52-week low of $55.19 and a 52-week high of $115.76. The firm has a market capitalization of $1.44 billion, a PE ratio of 9.52, a PEG ratio of 1.35 and a beta of 1.67. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.96 and a current ratio of 0.96.

ArcBest (NASDAQ:ARCB - Get Free Report) last announced its earnings results on Wednesday, November 5th. The transportation company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.09. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.04 billion. ArcBest had a net margin of 3.90% and a return on equity of 8.67%. The business's revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.64 earnings per share. On average, analysts predict that ArcBest will post 7 EPS for the current fiscal year.

ArcBest Dividend Announcement

• ArcBest Corporation Delivers Results

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, November 14th. ArcBest's dividend payout ratio (DPR) is 11.40%.

Institutional Investors Weigh In On ArcBest

Large investors have recently made changes to their positions in the company. Alliancebernstein L.P. lifted its position in ArcBest by 3.6% in the 1st quarter. Alliancebernstein L.P. now owns 2,664,431 shares of the transportation company's stock worth $188,056,000 after buying an additional 92,514 shares in the last quarter. Westwood Holdings Group Inc. raised its stake in shares of ArcBest by 36.7% in the 1st quarter. Westwood Holdings Group Inc. now owns 869,267 shares of the transportation company's stock valued at $61,353,000 after purchasing an additional 233,409 shares during the period. American Century Companies Inc. lifted its stake in ArcBest by 9.6% in the 3rd quarter. American Century Companies Inc. now owns 817,091 shares of the transportation company's stock valued at $57,090,000 after purchasing an additional 71,420 shares during the last quarter. Geode Capital Management LLC grew its position in shares of ArcBest by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 565,739 shares of the transportation company's stock worth $43,573,000 after purchasing an additional 4,048 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of ArcBest by 158.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 490,064 shares of the transportation company's stock valued at $37,740,000 after purchasing an additional 300,642 shares during the last quarter. Institutional investors and hedge funds own 99.27% of the company's stock.

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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