ArcBest Co. (NASDAQ:ARCB) Given Average Rating of “Moderate Buy” by Analysts

Shares of ArcBest Co. (NASDAQ:ARCB) have earned a consensus recommendation of “Moderate Buy” from the twelve research firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $145.25.

Several analysts have issued reports on the company. UBS Group cut their price objective on ArcBest from $150.00 to $126.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. The Goldman Sachs Group upped their price objective on ArcBest from $133.00 to $149.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. StockNews.com cut ArcBest from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Wells Fargo & Company initiated coverage on ArcBest in a research report on Friday, June 7th. They set an “overweight” rating and a $140.00 price target on the stock. Finally, TD Cowen dropped 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.

ArcBest Trading Down 13.3 %

Shares of ARCB opened at $105.48 on Monday. The company has a market capitalization of $2.47 billion, a P/E ratio of 21.22, a P/E/G ratio of 1.01 and a beta of 1.48. ArcBest has a one year low of $86.93 and a one year high of $153.60. 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 50-day moving average price of $110.66 and a 200 day moving average price of $124.41.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings results on Tuesday, April 30th. The transportation company reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.19). The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. ArcBest had a net margin of 2.80% and a return on equity of 15.27%. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.58 EPS. Sell-side analysts forecast that ArcBest will post 8.26 EPS for the current fiscal year.

ArcBest Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Tuesday, August 13th. ArcBest’s dividend payout ratio is currently 9.66%.

Institutional Trading of ArcBest

Several large investors have recently added to or reduced their stakes in the business. Versor Investments LP acquired a new stake in ArcBest in the 2nd quarter valued at approximately $447,000. Innealta Capital LLC bought a new position in ArcBest during the 2nd quarter valued at $33,000. Panagora Asset Management Inc. boosted its stake in ArcBest by 7.7% during the 2nd quarter. Panagora Asset Management Inc. now owns 24,398 shares of the transportation company’s stock valued at $2,613,000 after purchasing an additional 1,738 shares in the last quarter. FAS Wealth Partners Inc. boosted its stake in ArcBest by 86.3% during the 2nd quarter. FAS Wealth Partners Inc. now owns 80,050 shares of the transportation company’s stock valued at $8,572,000 after purchasing an additional 37,073 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in ArcBest by 4.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,149 shares of the transportation company’s stock valued at $551,000 after purchasing an additional 239 shares in the last quarter. 99.27% of the stock is currently owned by institutional investors and hedge funds.

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.