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

Shares of ArcBest Co. (NASDAQ:ARCB) have been assigned an average rating of “Moderate Buy” from the twelve brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $145.25.

Several brokerages have recently weighed in on ARCB. The Goldman Sachs Group raised their target price on ArcBest from $133.00 to $149.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Stifel Nicolaus cut their target price on ArcBest from $159.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. UBS Group cut their target price on ArcBest from $150.00 to $126.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. JPMorgan Chase & Co. lowered ArcBest from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $145.00 to $127.00 in a research report on Tuesday, July 9th. Finally, TD Cowen cut their price target on ArcBest from $177.00 to $148.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC grew its stake in shares of ArcBest by 9.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 165,175 shares of the transportation company’s stock valued at $23,537,000 after purchasing an additional 14,463 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of ArcBest by 20.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 154,972 shares of the transportation company’s stock valued at $18,629,000 after buying an additional 26,411 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of ArcBest by 2.9% in the first quarter. Principal Financial Group Inc. now owns 138,764 shares of the transportation company’s stock valued at $19,774,000 after buying an additional 3,918 shares in the last quarter. New York State Common Retirement Fund boosted its stake in shares of ArcBest by 0.6% in the fourth quarter. New York State Common Retirement Fund now owns 110,748 shares of the transportation company’s stock valued at $13,313,000 after buying an additional 620 shares in the last quarter. Finally, Orchard Capital Management LLC boosted its stake in shares of ArcBest by 5.5% in the fourth quarter. Orchard Capital Management LLC now owns 101,820 shares of the transportation company’s stock valued at $12,240,000 after buying an additional 5,322 shares in the last quarter. 99.27% of the stock is currently owned by hedge funds and other institutional investors.

ArcBest Stock Performance

Shares of ARCB opened at $105.48 on Monday. The stock has a 50-day simple moving average of $110.66 and a 200-day simple moving average of $124.41. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.23 and a current ratio of 1.23. The stock has a market capitalization of $2.47 billion, a PE ratio of 21.22, a PEG ratio of 1.01 and a beta of 1.48. ArcBest has a 1 year low of $86.93 and a 1 year high of $153.60.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings data on Tuesday, April 30th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the business posted $1.58 EPS. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. On average, analysts predict that ArcBest will post 8.26 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th will be paid a $0.12 dividend. The ex-dividend date is Tuesday, August 13th. This represents a $0.48 annualized dividend and a dividend yield of 0.46%. ArcBest’s dividend payout ratio (DPR) 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.