ArcBest Co. (NASDAQ:ARCB) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of ArcBest Co. (NASDAQ:ARCB) have received an average recommendation of “Moderate Buy” from the thirteen ratings firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $145.00.

A number of research firms have recently weighed in on ARCB. Stifel Nicolaus lowered their price objective on ArcBest from $159.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. The Goldman Sachs Group lifted their target price on ArcBest from $133.00 to $149.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. JPMorgan Chase & Co. decreased their target price on ArcBest from $164.00 to $145.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. TD Cowen decreased their target price on ArcBest from $177.00 to $148.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Finally, Wells Fargo & Company began coverage on ArcBest in a research note on Friday, June 7th. They issued an “overweight” rating and a $140.00 price objective on the stock.

Hedge Funds Weigh In On ArcBest

Several large investors have recently modified their holdings of ARCB. Contravisory Investment Management Inc. boosted its holdings in ArcBest by 70.9% during the 1st quarter. Contravisory Investment Management Inc. now owns 188 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 78 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in ArcBest by 49.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 227 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 75 shares during the period. GAMMA Investing LLC purchased a new position in ArcBest during the 4th quarter valued at $39,000. Parallel Advisors LLC boosted its holdings in ArcBest by 45.8% during the 4th quarter. Parallel Advisors LLC now owns 363 shares of the transportation company’s stock valued at $44,000 after acquiring an additional 114 shares during the period. Finally, Headlands Technologies LLC purchased a new position in ArcBest during the 1st quarter valued at $73,000. Institutional investors own 99.27% of the company’s stock.

ArcBest Stock Down 0.1 %

ARCB stock opened at $108.54 on Thursday. ArcBest has a twelve month low of $86.93 and a twelve month high of $153.60. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.12. The stock has a market cap of $2.54 billion, a P/E ratio of 21.84, a PEG ratio of 0.83 and a beta of 1.48. The business’s 50-day moving average price is $110.41 and its 200-day moving average price is $124.70.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings data on Tuesday, April 30th. The transportation company reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.19). ArcBest had a net margin of 2.80% and a return on equity of 15.27%. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the firm earned $1.58 earnings per share. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. On average, equities research analysts forecast that ArcBest will post 8.54 EPS for the current year.

ArcBest Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend was Thursday, May 9th. ArcBest’s dividend payout ratio is currently 9.66%.

About ArcBest

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.