Today, ArcBest Corp. (ARCB) Receives $22.00 Average PT from Brokerages

Today, ArcBest Corp. (ARCB) Receives $22.00 Average PT from Brokerages
Shares of ArcBest Corp. (NASDAQ:ARCB) have received an average recommendation of “Hold” from the nine research firms that are currently covering the stock. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $22.00.

ARCB has been the subject of a number of research analyst reports. Buckingham Research initiated coverage on shares of ArcBest Corp. in a research report on Friday, September 23rd. They set a “buy” rating and a $24.00 target price for the company. Zacks Investment Research raised shares of ArcBest Corp. from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 9th. Deutsche Bank AG initiated coverage on shares of ArcBest Corp. in a research report on Wednesday, November 2nd. They set a “hold” rating and a $21.00 target price for the company. Citigroup Inc. boosted their target price on shares of ArcBest Corp. from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, September 8th. Finally, Bank of America Corp. raised shares of ArcBest Corp. from an “underperform” rating to a “neutral” rating in a research report on Friday, November 4th. They noted that the move was a valuation call.

Hedge funds and other institutional investors have recently bought and sold shares of the company. I.G. Investment Management LTD. raised its position in ArcBest Corp. by 1.9% in the second quarter. I.G. Investment Management LTD. now owns 47,085 shares of the company’s stock valued at $765,000 after buying an additional 862 shares during the period. Emerald Acquisition Ltd. acquired a new position in ArcBest Corp. during the second quarter valued at about $787,000. Kleinwort Benson Investors Dublin Ltd acquired a new position in ArcBest Corp. during the second quarter valued at about $789,000. Towle & Co. raised its position in ArcBest Corp. by 126.6% in the second quarter. Towle & Co. now owns 778,326 shares of the company’s stock valued at $12,648,000 after buying an additional 434,810 shares during the period. Finally, Quantitative Investment Management LLC acquired a new position in ArcBest Corp. during the second quarter valued at about $196,000. 84.19% of the stock is owned by hedge funds and other institutional investors.

ArcBest Corp. (NASDAQ:ARCB) opened at 30.35 on Tuesday. ArcBest Corp. has a 52 week low of $14.85 and a 52 week high of $30.40. The firm has a market capitalization of $777.63 million, a P/E ratio of 36.48 and a beta of 1.42. The firm has a 50-day moving average price of $22.94 and a 200-day moving average price of $18.98.

ArcBest Corp. (NASDAQ:ARCB) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.01. The firm earned $713.90 million during the quarter, compared to analysts’ expectations of $422.62 million. ArcBest Corp. had a net margin of 0.83% and a return on equity of 3.81%. ArcBest Corp.’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the prior year, the company posted $0.76 earnings per share. Equities analysts forecast that ArcBest Corp. will post $0.89 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 29th. Investors of record on Tuesday, November 15th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Thursday, November 10th. ArcBest Corp.’s dividend payout ratio (DPR) is presently 38.55%.

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