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

Shares of ArcBest Corporation (NASDAQ:ARCB) have been assigned an average rating of “Hold” from the fifteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $86.00.

A number of equities analysts have issued reports on the company. Wells Fargo & Company cut their target price on ArcBest from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 6th. JPMorgan Chase & Co. raised their price target on ArcBest from $85.00 to $87.00 and gave the stock a “neutral” rating in a report on Wednesday, October 8th. Citigroup reduced their target price on shares of ArcBest from $87.00 to $83.00 and set a “buy” rating for the company in a research note on Tuesday, December 2nd. Bank of America increased their price target on ArcBest from $72.00 to $84.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 23rd. Finally, TD Cowen decreased their price objective 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.

Institutional Trading of ArcBest

Institutional investors have recently modified their holdings of the company. Partners Group Holding AG raised its holdings in ArcBest by 23.2% during the 2nd quarter. Partners Group Holding AG now owns 147,476 shares of the transportation company’s stock worth $11,357,000 after buying an additional 27,797 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of ArcBest in the second quarter worth about $1,759,000. Envestnet Portfolio Solutions Inc. purchased a new position in shares of ArcBest in the second quarter worth approximately $355,000. Public Employees Retirement System of Ohio raised its holdings in shares of ArcBest by 23.4% during the second quarter. Public Employees Retirement System of Ohio now owns 41,971 shares of the transportation company’s stock valued at $3,232,000 after acquiring an additional 7,955 shares during the period. Finally, Strs Ohio acquired a new stake in shares of ArcBest during the first quarter valued at approximately $473,000. Institutional investors and hedge funds own 99.27% of the company’s stock.

ArcBest Trading Up 4.0%

Shares of ARCB stock opened at $77.17 on Monday. The firm has a market cap of $1.74 billion, a P/E ratio of 18.33, a PEG ratio of 8.93 and a beta of 1.51. The firm’s 50-day simple moving average is $70.61 and its 200-day simple moving average is $73.23. ArcBest has a 1-year low of $55.19 and a 1-year high of $103.63. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.98 and a quick ratio of 0.98.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings data on Wednesday, November 5th. The transportation company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.09. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.04 billion. ArcBest had a return on equity of 8.24% and a net margin of 2.41%.The business’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.64 EPS. As a group, equities analysts forecast that ArcBest will post 7 EPS for the current year.

ArcBest Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Friday, November 14th. ArcBest’s dividend payout ratio (DPR) is presently 11.40%.

About ArcBest

ArcBest Corporation (NASDAQ: ARCB) is a transportation and logistics company that offers comprehensive freight and supply chain solutions across North America. Founded in 1923 as Arkansas Best Freight System, the company has evolved into a diversified service provider with both asset-based and asset-light operations. Its core businesses include less-than-truckload (LTL) shipping through ABF Freight, expedited full-truckload services via Panther Premium Logistics, and a range of logistics and supply chain management services under its ArcBest Integrated Logistics division.

The company’s asset-based operations also encompass FleetNet America, a provider of emergency roadside assistance and maintenance services for heavy-duty vehicles.