ArcBest Corp (ARCB) Given Consensus Rating of “Hold” by Analysts

Shares of ArcBest Corp (NASDAQ:ARCB) have been assigned a consensus recommendation of “Hold” from the twelve brokerages that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $42.25.

ARCB has been the topic of a number of analyst reports. Morgan Stanley set a $39.00 price target on ArcBest and gave the company a “hold” rating in a research report on Monday, October 22nd. ValuEngine lowered ArcBest from a “hold” rating to a “sell” rating in a research report on Saturday, December 15th. Cowen reiterated a “hold” rating and issued a $42.00 price target on shares of ArcBest in a research report on Thursday, January 31st. Loop Capital reduced their price target on ArcBest to $39.00 and set a “hold” rating on the stock in a research report on Tuesday, December 11th. Finally, Bank of America lowered ArcBest from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $50.00 to $38.00 in a research report on Tuesday, October 30th.

In other news, VP Michael R. Johns sold 4,409 shares of the business’s stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $40.16, for a total value of $177,065.44. Following the transaction, the vice president now directly owns 34,200 shares of the company’s stock, valued at approximately $1,373,472. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel E. Loe sold 3,988 shares of the business’s stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $40.12, for a total value of $159,998.56. Following the completion of the transaction, the insider now directly owns 32,100 shares in the company, valued at $1,287,852. The disclosure for this sale can be found here. 1.19% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in ArcBest by 2.6% during the 4th quarter. BlackRock Inc. now owns 3,728,659 shares of the transportation company’s stock worth $127,743,000 after buying an additional 93,618 shares during the period. Vanguard Group Inc. raised its stake in ArcBest by 4.4% during the 3rd quarter. Vanguard Group Inc. now owns 3,142,794 shares of the transportation company’s stock worth $152,583,000 after buying an additional 132,068 shares during the period. Vanguard Group Inc raised its stake in ArcBest by 4.4% during the 3rd quarter. Vanguard Group Inc now owns 3,142,794 shares of the transportation company’s stock worth $152,583,000 after buying an additional 132,068 shares during the period. Dimensional Fund Advisors LP raised its stake in ArcBest by 0.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,161,946 shares of the transportation company’s stock worth $104,963,000 after buying an additional 11,391 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in ArcBest by 1.2% during the 4th quarter. Bank of New York Mellon Corp now owns 548,121 shares of the transportation company’s stock worth $18,778,000 after buying an additional 6,580 shares during the period. 93.02% of the stock is currently owned by institutional investors and hedge funds.

ARCB stock traded down $0.33 during midday trading on Wednesday, reaching $36.79. 3,333 shares of the stock were exchanged, compared to its average volume of 323,217. The firm has a market capitalization of $947.96 million, a P/E ratio of 9.62, a P/E/G ratio of 2.20 and a beta of 2.11. ArcBest has a 52 week low of $30.90 and a 52 week high of $51.45. The company has a quick ratio of 1.39, a current ratio of 1.44 and a debt-to-equity ratio of 0.33.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings data on Wednesday, January 30th. The transportation company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.08. ArcBest had a return on equity of 14.95% and a net margin of 2.17%. The business had revenue of $774.28 million for the quarter, compared to analyst estimates of $767.78 million. During the same quarter in the previous year, the company posted $0.42 EPS. ArcBest’s quarterly revenue was up 8.9% compared to the same quarter last year. As a group, equities research analysts expect that ArcBest will post 3.78 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 22nd. Stockholders of record on Friday, February 8th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Thursday, February 7th. ArcBest’s dividend payout ratio is 8.29%.

About ArcBest

ArcBest Corporation provides freight transportation services and integrated logistics solutions worldwide. It operates through three segments: Asset-Based, ArcBest, and FleetNet. The Asset-Based segment transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, nonbulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products through less-than-truckload services.

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