Bank of America reaffirmed their underperform rating on shares of ArcBest (NASDAQ:ARCB) in a research report report published on Tuesday morning. The brokerage currently has a $34.00 price objective on the transportation company’s stock, down from their previous price objective of $45.00.
A number of other equities analysts have also recently issued reports on ARCB. Loop Capital lowered their target price on ArcBest to $39.00 and set a hold rating for the company in a report on Tuesday, December 11th. SunTrust Banks started coverage on ArcBest in a report on Wednesday, December 12th. They issued a buy rating and a $47.00 target price for the company. ValuEngine cut ArcBest from a hold rating to a sell rating in a report on Saturday, December 15th. BidaskClub raised ArcBest from a hold rating to a buy rating in a report on Friday, January 11th. Finally, Cowen reaffirmed a hold rating and issued a $42.00 target price on shares of ArcBest in a report on Thursday, January 31st. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. ArcBest presently has an average rating of Hold and a consensus price target of $43.22.
Shares of ARCB opened at $33.75 on Tuesday. ArcBest has a 12-month low of $30.90 and a 12-month high of $51.45. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $868.11 million, a price-to-earnings ratio of 8.74, a PEG ratio of 1.99 and a beta of 2.14.
The business also recently declared a quarterly dividend, which was paid on Friday, February 22nd. Shareholders of record on Friday, February 8th were given a $0.08 dividend. The ex-dividend date was Thursday, February 7th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.95%. ArcBest’s dividend payout ratio (DPR) is presently 8.29%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARCB. Victory Capital Management Inc. bought a new stake in shares of ArcBest in the 3rd quarter valued at about $247,000. Meeder Asset Management Inc. grew its position in shares of ArcBest by 32.7% in the 3rd quarter. Meeder Asset Management Inc. now owns 5,304 shares of the transportation company’s stock valued at $257,000 after buying an additional 1,307 shares during the last quarter. American Century Companies Inc. grew its position in shares of ArcBest by 107.1% in the 3rd quarter. American Century Companies Inc. now owns 260,021 shares of the transportation company’s stock valued at $12,624,000 after buying an additional 134,438 shares during the last quarter. Janney Montgomery Scott LLC grew its position in shares of ArcBest by 149.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 17,865 shares of the transportation company’s stock valued at $867,000 after buying an additional 10,701 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in shares of ArcBest by 957.0% in the 3rd quarter. SG Americas Securities LLC now owns 59,035 shares of the transportation company’s stock valued at $2,866,000 after buying an additional 53,450 shares during the last quarter. Hedge funds and other institutional investors own 93.45% of the company’s stock.
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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