ValuEngine upgraded shares of ArcBest (NASDAQ:ARCB) from a hold rating to a buy rating in a research note published on Saturday.
Other equities research analysts also recently issued research reports about the company. BidaskClub upgraded ArcBest from a hold rating to a buy rating in a research report on Saturday, December 2nd. Zacks Investment Research upgraded ArcBest from a hold rating to a buy rating and set a $41.00 price objective on the stock in a research report on Tuesday, January 16th. Morgan Stanley reiterated an equal weight rating and issued a $32.00 price objective (up previously from $23.00) on shares of ArcBest in a research report on Wednesday, February 21st. Cowen reiterated a market perform rating and issued a $39.00 price objective (up previously from $33.00) on shares of ArcBest in a research report on Thursday, February 1st. Finally, Citigroup increased their price objective on ArcBest from $38.00 to $40.00 and gave the stock a neutral rating in a research report on Tuesday, February 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. ArcBest has an average rating of Hold and an average price target of $35.88.
Shares of ArcBest (NASDAQ:ARCB) opened at $34.75 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.30 and a quick ratio of 1.30. ArcBest has a 12-month low of $16.95 and a 12-month high of $39.70. The stock has a market capitalization of $891.04, a price-to-earnings ratio of 26.33 and a beta of 1.72.
The company also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Friday, February 9th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $0.32 dividend on an annualized basis and a yield of 0.92%. ArcBest’s payout ratio is 24.24%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Elkfork Partners LLC purchased a new stake in ArcBest during the fourth quarter valued at about $113,000. ETRADE Capital Management LLC purchased a new stake in ArcBest during the fourth quarter valued at about $210,000. PEAK6 Investments L.P. purchased a new stake in ArcBest during the fourth quarter valued at about $231,000. Stone Ridge Asset Management LLC purchased a new stake in ArcBest during the fourth quarter valued at about $243,000. Finally, Koch Industries Inc. purchased a new stake in ArcBest during the fourth quarter valued at about $276,000. Institutional investors and hedge funds own 88.73% of the company’s stock.
ArcBest 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).
To view ValuEngine’s full report, visit ValuEngine’s official website.
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