ArcBest Corporation (NASDAQ:ARCB) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of ArcBest Corporation (NASDAQ:ARCB) have been given an average recommendation of “Moderate Buy” by the fourteen ratings firms that are currently covering the firm, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $145.4167.

Several equities research analysts have weighed in on ARCB shares. Weiss Ratings downgraded ArcBest from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, May 28th. Stifel Nicolaus upped their target price on ArcBest from $116.00 to $134.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. raised their target price on ArcBest from $117.00 to $147.00 and gave the stock a “neutral” rating in a report on Monday, June 8th. Wall Street Zen upgraded ArcBest from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Bank of America upped their price objective on ArcBest from $138.00 to $160.00 and gave the stock a “neutral” rating in a research report on Friday, June 5th.

Institutional Investors Weigh In On ArcBest

A number of institutional investors have recently modified their holdings of the business. AQR Capital Management LLC boosted its position in ArcBest by 300.3% during the first quarter. AQR Capital Management LLC now owns 26,896 shares of the transportation company’s stock worth $1,898,000 after purchasing an additional 20,177 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of ArcBest by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,017 shares of the transportation company’s stock valued at $989,000 after buying an additional 619 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of ArcBest by 215.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 153,138 shares of the transportation company’s stock valued at $10,808,000 after buying an additional 104,643 shares in the last quarter. Jane Street Group LLC raised its stake in shares of ArcBest by 278.2% during the 1st quarter. Jane Street Group LLC now owns 45,591 shares of the transportation company’s stock worth $3,218,000 after buying an additional 33,537 shares during the period. Finally, Intech Investment Management LLC raised its stake in shares of ArcBest by 3.4% during the 1st quarter. Intech Investment Management LLC now owns 20,135 shares of the transportation company’s stock worth $1,421,000 after buying an additional 655 shares during the period. 99.27% of the stock is currently owned by institutional investors and hedge funds.

ArcBest Price Performance

ARCB stock opened at $139.67 on Monday. The company has a market capitalization of $3.11 billion, a P/E ratio of 57.48, a price-to-earnings-growth ratio of 0.63 and a beta of 1.57. ArcBest has a 12 month low of $59.43 and a 12 month high of $176.69. The firm’s fifty day simple moving average is $137.33 and its 200-day simple moving average is $109.60. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.93.

ArcBest (NASDAQ:ARCB) last issued its earnings results on Tuesday, April 28th. The transportation company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.05. The firm had revenue of $998.79 million during the quarter, compared to analysts’ expectations of $999.07 million. ArcBest had a net margin of 1.38% and a return on equity of 6.15%. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.51 earnings per share. As a group, equities research analysts forecast that ArcBest will post 5.87 earnings per share for the current year.

ArcBest Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $0.48 dividend on an annualized basis and a yield of 0.3%. ArcBest’s payout ratio is presently 19.75%.

ArcBest Company Profile

ArcBest Corporation (NASDAQ: ARCB) is a transportation and logistics company that offers comprehensive freight and supply chain solutions across North America. Founded in 1923 as Arkansas Best Freight System, the company has evolved into a diversified service provider with both asset-based and asset-light operations. Its core businesses include less-than-truckload (LTL) shipping through ABF Freight, expedited full-truckload services via Panther Premium Logistics, and a range of logistics and supply chain management services under its ArcBest Integrated Logistics division.

The company’s asset-based operations also encompass FleetNet America, a provider of emergency roadside assistance and maintenance services for heavy-duty vehicles.