ArcBest (NASDAQ:ARCB) Stock Rating Upgraded by BidaskClub

BidaskClub upgraded shares of ArcBest (NASDAQ:ARCB) from a hold rating to a buy rating in a report released on Friday morning, BidAskClub reports.

Several other equities analysts also recently commented on ARCB. Citigroup decreased their price objective on shares of ArcBest from $34.00 to $28.00 and set a neutral rating on the stock in a report on Thursday, July 11th. ValuEngine upgraded ArcBest from a strong sell rating to a sell rating in a report on Thursday, August 1st. Buckingham Research cut their target price on ArcBest from $37.00 to $36.00 and set a neutral rating on the stock in a report on Monday, May 6th. Mizuho reiterated a buy rating and issued a $38.00 target price on shares of ArcBest in a report on Tuesday, July 2nd. Finally, Seaport Global Securities reiterated a neutral rating on shares of ArcBest in a report on Friday, April 5th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of Hold and an average price target of $36.63.

NASDAQ:ARCB opened at $27.73 on Friday. ArcBest has a one year low of $24.68 and a one year high of $51.45. The firm has a market capitalization of $732.23 million, a P/E ratio of 8.08 and a beta of 2.02. The company has a fifty day moving average of $27.24. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.40 and a current ratio of 1.38.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings data on Tuesday, July 30th. The transportation company reported $0.93 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.96 by ($0.03). ArcBest had a net margin of 2.77% and a return on equity of 13.11%. The company had revenue of $771.50 million during the quarter, compared to analyst estimates of $779.07 million. During the same quarter in the prior year, the firm earned $1.12 earnings per share. ArcBest’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, equities research analysts expect that ArcBest will post 3.13 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, August 9th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.15%. The ex-dividend date is Thursday, August 8th. ArcBest’s dividend payout ratio (DPR) is presently 8.29%.

A number of large investors have recently modified their holdings of the business. Thrivent Financial for Lutherans lifted its holdings in shares of ArcBest by 2.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 18,348 shares of the transportation company’s stock valued at $629,000 after acquiring an additional 403 shares in the last quarter. California Public Employees Retirement System grew its stake in ArcBest by 1.5% in the fourth quarter. California Public Employees Retirement System now owns 28,993 shares of the transportation company’s stock worth $993,000 after purchasing an additional 415 shares during the period. Globeflex Capital L P grew its stake in ArcBest by 1.6% in the first quarter. Globeflex Capital L P now owns 27,795 shares of the transportation company’s stock worth $856,000 after purchasing an additional 439 shares during the period. Martingale Asset Management L P grew its stake in ArcBest by 1.1% in the first quarter. Martingale Asset Management L P now owns 45,234 shares of the transportation company’s stock worth $1,393,000 after purchasing an additional 500 shares during the period. Finally, Texas Permanent School Fund grew its stake in ArcBest by 3.3% in the first quarter. Texas Permanent School Fund now owns 17,362 shares of the transportation company’s stock worth $535,000 after purchasing an additional 551 shares during the period. Institutional investors and hedge funds own 97.85% of the company’s stock.

About ArcBest

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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Analyst Recommendations for ArcBest (NASDAQ:ARCB)

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