ArcBest Co. (NASDAQ:ARCB) Receives $142.50 Consensus Price Target from Brokerages

ArcBest Co. (NASDAQ:ARCBGet Free Report) has earned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the company, Marketbeat reports. One equities 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 target among brokers that have issued a report on the stock in the last year is $145.00.

Several brokerages have recently commented on ARCB. JPMorgan Chase & Co. reduced their target price on shares of ArcBest from $164.00 to $145.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. Bank of America reduced their target price on shares of ArcBest from $143.00 to $110.00 and set an “underperform” rating on the stock in a research note on Wednesday, May 1st. StockNews.com downgraded shares of ArcBest from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Wells Fargo & Company began coverage on shares of ArcBest in a research note on Friday, June 7th. They issued an “overweight” rating and a $140.00 target price on the stock. Finally, TD Cowen reduced their target price on shares of ArcBest from $177.00 to $148.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st.

Read Our Latest Report on ArcBest

ArcBest Stock Down 2.2 %

ARCB opened at $108.30 on Friday. ArcBest has a fifty-two week low of $85.10 and a fifty-two week high of $153.60. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.23 and a quick ratio of 1.23. The firm’s fifty day moving average price is $121.29 and its two-hundred day moving average price is $125.39. The company has a market capitalization of $2.54 billion, a P/E ratio of 21.79, a P/E/G ratio of 0.85 and a beta of 1.49.

ArcBest (NASDAQ:ARCBGet Free Report) last issued its earnings results on Tuesday, April 30th. The transportation company reported $1.34 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 firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the firm posted $1.58 EPS. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, analysts anticipate that ArcBest will post 8.56 EPS for the current year.

ArcBest Announces Dividend

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

Institutional Trading of ArcBest

Several institutional investors and hedge funds have recently added to or reduced their stakes in ARCB. Cooper Creek Partners Management LLC bought a new stake in ArcBest during the 3rd quarter worth about $29,108,000. Wellington Management Group LLP acquired a new position in shares of ArcBest during the 3rd quarter worth about $10,561,000. Norges Bank acquired a new position in shares of ArcBest during the 4th quarter worth about $9,298,000. Zimmer Partners LP acquired a new position in shares of ArcBest during the 1st quarter worth about $7,838,000. Finally, Ardsley Advisory Partners LP acquired a new position in shares of ArcBest during the 3rd quarter worth about $5,075,000. 99.27% of the stock is owned by institutional investors.

ArcBest Company Profile

(Get Free Report

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.

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Analyst Recommendations for ArcBest (NASDAQ:ARCB)

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