ArcBest (ARCB) Earns Underperform Rating from Bank of America
Bank of America restated their underperform rating on shares of ArcBest (NASDAQ:ARCB) in a report published on Tuesday morning. They currently have a $34.00 target price on the transportation company’s stock, down from their previous target price of $45.00.
Several other brokerages also recently commented on ARCB. BidaskClub upgraded ArcBest from a hold rating to a buy rating in a research note on Friday, January 11th. Zacks Investment Research downgraded ArcBest from a buy rating to a hold rating in a research note on Monday, February 4th. Loop Capital lifted their target price on ArcBest from $39.00 to $40.00 and gave the stock a neutral rating in a research note on Thursday, January 31st. Cowen reiterated a hold rating and set a $42.00 target price on shares of ArcBest in a research note on Thursday, January 31st. Finally, SunTrust Banks began coverage on ArcBest in a research note on Wednesday, December 12th. They set a buy rating and a $47.00 target price for the company. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. ArcBest has a consensus rating of Hold and an average price target of $43.22.
NASDAQ:ARCB opened at $33.75 on Tuesday. The company has a market cap of $868.11 million, a price-to-earnings ratio of 8.74, a P/E/G ratio of 1.99 and a beta of 2.14. ArcBest has a twelve month low of $30.90 and a twelve month high of $51.45. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33.
The company also recently declared a quarterly dividend, which was paid on Friday, February 22nd. Investors of record on Friday, February 8th were paid a $0.08 dividend. The ex-dividend date was Thursday, February 7th. This represents a $0.32 annualized dividend and a yield of 0.95%. ArcBest’s dividend payout ratio (DPR) is presently 8.29%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc boosted its stake in ArcBest by 4.4% in the 3rd quarter. Vanguard Group Inc now owns 3,142,794 shares of the transportation company’s stock valued at $152,583,000 after purchasing an additional 132,068 shares during the period. Vident Investment Advisory LLC bought a new stake in ArcBest in the 3rd quarter valued at $3,134,000. ClariVest Asset Management LLC boosted its stake in ArcBest by 22.0% in the 4th quarter. ClariVest Asset Management LLC now owns 172,656 shares of the transportation company’s stock valued at $5,916,000 after purchasing an additional 31,175 shares during the period. Eqis Capital Management Inc. boosted its stake in ArcBest by 507.7% in the 4th quarter. Eqis Capital Management Inc. now owns 35,417 shares of the transportation company’s stock valued at $1,213,000 after purchasing an additional 29,589 shares during the period. Finally, MetLife Investment Advisors LLC lifted its position in shares of ArcBest by 25.8% during the 3rd quarter. MetLife Investment Advisors LLC now owns 16,127 shares of the transportation company’s stock valued at $783,000 after acquiring an additional 3,312 shares during the period. Institutional investors and hedge funds own 93.45% 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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