ArcBest Corp. (ARCB) Raised to Buy at TheStreet
ArcBest Corp. (NASDAQ:ARCB) was upgraded by investment analysts at TheStreet from a “hold” rating to a “buy” rating in a research report issued on Monday.
ARCB has been the topic of several other reports. Zacks Investment Research cut ArcBest Corp. from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 28th. Buckingham Research initiated coverage on ArcBest Corp. in a report on Friday, September 23rd. They issued a “buy” rating and a $24.00 target price on the stock. Citigroup Inc. upped their target price on ArcBest Corp. from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, September 8th. Deutsche Bank AG initiated coverage on ArcBest Corp. in a report on Wednesday, November 2nd. They issued a “hold” rating and a $21.00 target price on the stock. Finally, Bank of America Corp. upgraded ArcBest Corp. from an “underperform” rating to a “neutral” rating in a report on Friday, November 4th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. ArcBest Corp. currently has a consensus rating of “Hold” and a consensus target price of $21.43.
ArcBest Corp. (NASDAQ:ARCB) traded up 0.83% during trading on Monday, hitting $30.30. 274,877 shares of the company traded hands. The firm has a market capitalization of $776.35 million, a P/E ratio of 36.42 and a beta of 1.42. ArcBest Corp. has a 12-month low of $14.85 and a 12-month high of $30.60. The stock has a 50-day moving average price of $23.55 and a 200-day moving average price of $19.19.
ArcBest Corp. (NASDAQ:ARCB) last announced its earnings results on Thursday, November 3rd. The company reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.01. ArcBest Corp. had a return on equity of 3.81% and a net margin of 0.83%. The business had revenue of $713.90 million for the quarter, compared to analysts’ expectations of $422.62 million. During the same period in the prior year, the business posted $0.76 earnings per share. The firm’s revenue was up .6% on a year-over-year basis. Equities analysts expect that ArcBest Corp. will post $0.89 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 29th. Stockholders of record on Tuesday, November 15th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Thursday, November 10th. ArcBest Corp.’s payout ratio is 38.55%.
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Several institutional investors have recently modified their holdings of the company. BNP Paribas Arbitrage SA raised its position in shares of ArcBest Corp. by 99.0% in the second quarter. BNP Paribas Arbitrage SA now owns 7,990 shares of the company’s stock worth $130,000 after buying an additional 3,974 shares during the last quarter. Pacad Investment Ltd. purchased a new position in shares of ArcBest Corp. during the second quarter worth $172,000. Paloma Partners Management Co purchased a new position in shares of ArcBest Corp. during the second quarter worth $177,000. KCG Holdings Inc. purchased a new position in shares of ArcBest Corp. during the third quarter worth $212,000. Finally, Municipal Employees Retirement System of Michigan raised its position in shares of ArcBest Corp. by 0.8% in the third quarter. Municipal Employees Retirement System of Michigan now owns 11,410 shares of the company’s stock worth $217,000 after buying an additional 90 shares during the last quarter. 84.86% of the stock is currently owned by institutional investors.
ArcBest Corp. Company Profile
ArcBest Corporation is a holding company of businesses providing freight transportation services and logistics solutions. The Company operates through five segments: Freight Transportation (ABF Freight) segment, Premium Logistics (Panther), Transportation Management (ABF Logistics), Emergency & Preventative Maintenance (FleetNet) and Household Goods Moving Services (ABF Moving).
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