ArcBest Co. (NASDAQ:ARCB – Get Free Report) has been given a consensus recommendation of “Hold” by the thirteen analysts that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and six have issued a buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $129.33.
Several research analysts recently issued reports on the stock. Wolfe Research lowered shares of ArcBest from an “outperform” rating to a “peer perform” rating in a research note on Wednesday. JPMorgan Chase & Co. reduced their target price on ArcBest from $134.00 to $133.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. TD Cowen dropped their price target on ArcBest from $136.00 to $131.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. Stifel Nicolaus reduced their price objective on ArcBest from $150.00 to $131.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Finally, Stephens restated an “overweight” rating and set a $130.00 price objective on shares of ArcBest in a report on Wednesday, September 4th.
View Our Latest Stock Report on ArcBest
ArcBest Stock Performance
ArcBest (NASDAQ:ARCB – Get Free Report) last issued its earnings results on Friday, August 2nd. The transportation company reported $1.98 earnings per share for the quarter, missing analysts’ consensus estimates of $2.03 by ($0.05). The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.06 billion. ArcBest had a return on equity of 15.98% and a net margin of 2.96%. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.54 earnings per share. As a group, analysts anticipate that ArcBest will post 7.06 EPS for the current year.
ArcBest Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend was Tuesday, August 13th. ArcBest’s dividend payout ratio (DPR) is presently 9.07%.
Insiders Place Their Bets
In other news, Director Salvatore A. Abbate acquired 1,000 shares of ArcBest stock in a transaction on Monday, August 12th. The stock was acquired at an average cost of $103.93 per share, with a total value of $103,930.00. Following the transaction, the director now owns 3,650 shares of the company’s stock, valued at approximately $379,344.50. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.65% of the company’s stock.
Hedge Funds Weigh In On ArcBest
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Quarry LP boosted its holdings in shares of ArcBest by 120.7% in the 2nd quarter. Quarry LP now owns 245 shares of the transportation company’s stock worth $26,000 after buying an additional 134 shares during the last quarter. Contravisory Investment Management Inc. raised its position in ArcBest by 70.9% in the first quarter. Contravisory Investment Management Inc. now owns 188 shares of the transportation company’s stock worth $27,000 after acquiring an additional 78 shares during the period. Innealta Capital LLC purchased a new position in ArcBest in the second quarter valued at about $33,000. Quest Partners LLC bought a new position in shares of ArcBest during the 2nd quarter valued at approximately $36,000. Finally, Cultivar Capital Inc. purchased a new stake in shares of ArcBest during the 2nd quarter worth approximately $43,000. Hedge funds and other institutional investors own 99.27% of the company’s stock.
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.
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