ArcBest Corporation (NASDAQ:ARCB) Receives Average Recommendation of “Hold” from Brokerages

ArcBest Corporation (NASDAQ:ARCB) has earned an average rating of “Hold” from the fourteen research firms that are covering the company, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $97.1667.

A number of analysts have commented on ARCB shares. Citigroup raised their price objective on ArcBest from $105.00 to $107.00 and gave the stock a “buy” rating in a research report on Monday, March 9th. Stephens set a $85.00 target price on ArcBest in a research report on Tuesday, January 6th. JPMorgan Chase & Co. boosted their price target on shares of ArcBest from $76.00 to $81.00 and gave the company a “neutral” rating in a report on Monday, February 2nd. Stifel Nicolaus dropped their price objective on shares of ArcBest from $96.00 to $94.00 and set a “buy” rating for the company in a research note on Monday, February 2nd. Finally, Bank of America raised their price objective on shares of ArcBest from $72.00 to $84.00 and gave the stock a “neutral” rating in a report on Tuesday, December 23rd.

Institutional Investors Weigh In On ArcBest

Several large investors have recently modified their holdings of ARCB. AQR Capital Management LLC lifted its position in shares of ArcBest by 300.3% during the 1st quarter. AQR Capital Management LLC now owns 26,896 shares of the transportation company’s stock worth $1,898,000 after buying an additional 20,177 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in ArcBest by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,017 shares of the transportation company’s stock valued at $989,000 after acquiring an additional 619 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in ArcBest by 215.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 153,138 shares of the transportation company’s stock worth $10,808,000 after acquiring an additional 104,643 shares in the last quarter. Jane Street Group LLC raised its stake in ArcBest by 278.2% during the first quarter. Jane Street Group LLC now owns 45,591 shares of the transportation company’s stock worth $3,218,000 after acquiring an additional 33,537 shares in the last quarter. Finally, Intech Investment Management LLC lifted its holdings in shares of ArcBest by 3.4% during the first quarter. Intech Investment Management LLC now owns 20,135 shares of the transportation company’s stock valued at $1,421,000 after acquiring an additional 655 shares during the period. 99.27% of the stock is currently owned by institutional investors.

ArcBest Stock Down 1.9%

Shares of ARCB stock opened at $87.58 on Friday. ArcBest has a 12 month low of $55.19 and a 12 month high of $112.92. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.10. The firm has a market cap of $1.95 billion, a PE ratio of 33.56, a price-to-earnings-growth ratio of 0.62 and a beta of 1.48. The stock has a 50 day moving average of $96.21 and a 200-day moving average of $80.41.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings data on Friday, January 30th. The transportation company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.09). ArcBest had a net margin of 1.50% and a return on equity of 6.51%. The company had revenue of $972.69 million for the quarter, compared to analyst estimates of $963.74 million. During the same period in the prior year, the company posted $1.33 EPS. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. On average, equities analysts predict that ArcBest will post 7 EPS for the current year.

ArcBest Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 24th. Shareholders of record on Tuesday, February 10th were paid a dividend of $0.12 per share. The ex-dividend date was Tuesday, February 10th. This represents a $0.48 dividend on an annualized basis and a yield of 0.5%. ArcBest’s dividend payout ratio (DPR) is currently 18.39%.

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.