Analysts Set ArcBest Corporation (NASDAQ:ARCB) Price Target at $24.50
ArcBest Corporation (NASDAQ:ARCB) has been assigned a consensus rating of “Hold” from the eleven brokerages that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $24.50.
Several research analysts recently commented on ARCB shares. Stifel Nicolaus reiterated a “hold” rating on shares of ArcBest Corporation in a research note on Thursday, August 3rd. BidaskClub lowered shares of ArcBest Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. ValuEngine lowered shares of ArcBest Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Cowen and Company boosted their price objective on shares of ArcBest Corporation from $24.00 to $27.00 and gave the stock an “outperform” rating in a research note on Monday, May 15th. Finally, Deutsche Bank AG reduced their price objective on shares of ArcBest Corporation from $33.00 to $25.00 and set a “hold” rating for the company in a research note on Monday, May 8th.
In other ArcBest Corporation news, insider Daniel E. Loe sold 9,929 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $25.87, for a total transaction of $256,863.23. Following the transaction, the insider now owns 33,600 shares in the company, valued at approximately $869,232. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.97% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Mason Street Advisors LLC raised its position in shares of ArcBest Corporation by 7.0% in the first quarter. Mason Street Advisors LLC now owns 5,569 shares of the transportation company’s stock worth $145,000 after buying an additional 362 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in shares of ArcBest Corporation by 61.6% in the second quarter. BNP Paribas Arbitrage SA now owns 7,757 shares of the transportation company’s stock worth $160,000 after buying an additional 2,957 shares during the last quarter. Louisiana State Employees Retirement System raised its position in shares of ArcBest Corporation by 1.0% in the second quarter. Louisiana State Employees Retirement System now owns 9,800 shares of the transportation company’s stock worth $202,000 after buying an additional 100 shares during the last quarter. Stephens Inc. AR raised its position in shares of ArcBest Corporation by 0.7% in the first quarter. Stephens Inc. AR now owns 8,728 shares of the transportation company’s stock worth $227,000 after buying an additional 60 shares during the last quarter. Finally, Marshall Wace North America L.P. bought a new position in shares of ArcBest Corporation during the second quarter worth about $236,000. Institutional investors and hedge funds own 86.35% of the company’s stock.
ArcBest Corporation (NASDAQ ARCB) traded down 2.25% during trading on Friday, reaching $26.10. 197,203 shares of the company were exchanged. The stock has a market capitalization of $670.51 million, a P/E ratio of 30.17 and a beta of 1.62. The company’s 50-day moving average price is $21.96 and its 200-day moving average price is $24.81. ArcBest Corporation has a 1-year low of $16.95 and a 1-year high of $33.95.
ArcBest Corporation (NASDAQ:ARCB) last posted its quarterly earnings results on Friday, July 28th. The transportation company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.48 by $0.09. ArcBest Corporation had a net margin of 0.83% and a return on equity of 4.92%. The business had revenue of $720.40 million during the quarter, compared to analyst estimates of $721.11 million. During the same quarter in the previous year, the business posted $0.38 EPS. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, equities analysts forecast that ArcBest Corporation will post $1.31 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 22nd. Investors of record on Tuesday, August 8th will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, August 4th. This represents a $0.32 annualized dividend and a dividend yield of 1.22%. ArcBest Corporation’s dividend payout ratio (DPR) is presently 37.21%.
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ArcBest Corporation Company Profile
ArcBest Corporation is a holding company of businesses providing integrated logistics solutions. The Company operates through three segments: Asset-Based, which consists of ABF Freight System, Inc and other subsidiaries; ArcBest, which represents the consolidation of the operations of the Premium Logistics, Transportation Management and Household Goods Moving Services segments, and FleetNet, which includes the results of operations of FleetNet America, Inc (FleetNet).
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