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

Shares of ArcBest Corporation (NASDAQ:ARCB) have been given a consensus rating of “Hold” by the fourteen brokerages that are covering the company, MarketBeat.com reports. Eight research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $92.9167.

ARCB has been the subject of several recent research reports. Zacks Research raised ArcBest from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. Stifel Nicolaus increased their price objective on ArcBest from $85.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. Truist Financial raised their target price on shares of ArcBest from $85.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, January 15th. Wells Fargo & Company dropped their price target on shares of ArcBest from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 6th. Finally, Citigroup lifted their price objective on shares of ArcBest from $83.00 to $104.00 and gave the company a “buy” rating in a research report on Wednesday, January 7th.

Institutional Trading of ArcBest

A number of hedge funds have recently made changes to their positions in ARCB. Farther Finance Advisors LLC increased its holdings in shares of ArcBest by 433.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 384 shares of the transportation company’s stock worth $30,000 after acquiring an additional 312 shares during the last quarter. Johnson Investment Counsel Inc. bought a new position in ArcBest during the third quarter worth $28,000. FNY Investment Advisers LLC acquired a new position in shares of ArcBest in the second quarter valued at $51,000. Smartleaf Asset Management LLC raised its position in shares of ArcBest by 26.9% in the third quarter. Smartleaf Asset Management LLC now owns 675 shares of the transportation company’s stock valued at $47,000 after purchasing an additional 143 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of ArcBest during the 2nd quarter worth about $85,000. 99.27% of the stock is owned by institutional investors and hedge funds.

ArcBest Stock Down 0.8%

ArcBest stock opened at $85.31 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.10. ArcBest has a 1-year low of $55.19 and a 1-year high of $103.14. The company has a fifty day simple moving average of $78.31 and a 200 day simple moving average of $74.58. The company has a market cap of $1.92 billion, a P/E ratio of 20.26, a price-to-earnings-growth ratio of 10.84 and a beta of 1.51.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings results on Wednesday, November 5th. The transportation company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.37 by $0.09. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.04 billion. ArcBest had a net margin of 2.41% and a return on equity of 8.24%. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.64 EPS. Research analysts anticipate that ArcBest will post 7 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 24th. Investors of record on Tuesday, February 10th will be issued a dividend of $0.12 per share. The ex-dividend date is Tuesday, February 10th. This represents a $0.48 dividend on an annualized basis and a yield of 0.6%. ArcBest’s dividend payout ratio (DPR) is presently 11.40%.

ArcBest Company Profile

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.