Shares of ArcBest Corp (NASDAQ:ARCB) have earned a consensus recommendation of “Hold” from the fourteen ratings firms that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $36.63.
Several research firms have recently weighed in on ARCB. Morgan Stanley set a $36.00 target price on shares of ArcBest and gave the stock a “hold” rating in a research report on Monday, July 8th. BidaskClub raised shares of ArcBest from a “hold” rating to a “buy” rating in a research report on Friday. Zacks Investment Research raised shares of ArcBest from a “strong sell” rating to a “hold” rating in a research report on Monday, July 22nd. Mizuho reissued a “buy” rating and issued a $38.00 target price on shares of ArcBest in a research report on Tuesday, July 2nd. Finally, Citigroup dropped their target price on shares of ArcBest from $34.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th.
Shares of ARCB traded down $0.62 during mid-day trading on Wednesday, hitting $28.08. The company’s stock had a trading volume of 3,754 shares, compared to its average volume of 274,959. The company has a 50-day moving average of $27.15. The company has a market cap of $732.22 million, a PE ratio of 7.33 and a beta of 2.02. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.38 and a quick ratio of 1.40. ArcBest has a fifty-two week low of $24.68 and a fifty-two week high of $51.45.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 9th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend is Thursday, August 8th. ArcBest’s dividend payout ratio is currently 8.29%.
Hedge funds have recently bought and sold shares of the stock. Pearl River Capital LLC acquired a new stake in shares of ArcBest during the first quarter worth approximately $68,000. NumerixS Investment Technologies Inc acquired a new stake in shares of ArcBest during the first quarter worth approximately $122,000. Victory Capital Management Inc. boosted its holdings in shares of ArcBest by 30.5% during the first quarter. Victory Capital Management Inc. now owns 6,915 shares of the transportation company’s stock worth $213,000 after purchasing an additional 1,615 shares during the period. United Services Automobile Association boosted its holdings in shares of ArcBest by 13.7% during the fourth quarter. United Services Automobile Association now owns 7,049 shares of the transportation company’s stock worth $242,000 after purchasing an additional 850 shares during the period. Finally, Stephens Inc. AR boosted its holdings in shares of ArcBest by 16.2% during the second quarter. Stephens Inc. AR now owns 7,901 shares of the transportation company’s stock worth $222,000 after purchasing an additional 1,100 shares during the period. Institutional investors and hedge funds own 97.85% of the company’s stock.
ArcBest Company Profile
ArcBest Corporation provides freight transportation services and integrated logistics solutions worldwide. It operates through three segments: Asset-Based, ArcBest, and FleetNet. The Asset-Based segment transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, nonbulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products through less-than-truckload services.
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