ArcBest Corporation (NASDAQ:ARCB) Receives $145.42 Consensus PT from Analysts

Shares of ArcBest Corporation (NASDAQ:ARCB) have been assigned an average recommendation of “Moderate Buy” from the fourteen research firms that are presently covering the stock, Marketbeat reports. Seven analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $145.4167.

Several analysts recently commented on the company. JPMorgan Chase & Co. raised their target price on ArcBest from $117.00 to $147.00 and gave the company a “neutral” rating in a research report on Monday, June 8th. Citigroup boosted their price target on ArcBest from $150.00 to $202.00 and gave the stock a “buy” rating in a research report on Monday, June 15th. Weiss Ratings cut ArcBest from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, May 28th. Stifel Nicolaus raised their price target on ArcBest from $116.00 to $134.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Finally, Truist Financial lifted their price objective on shares of ArcBest from $95.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th.

ArcBest Price Performance

NASDAQ ARCB opened at $139.67 on Monday. The company has a 50-day moving average price of $137.33 and a two-hundred day moving average price of $109.83. ArcBest has a 52 week low of $59.43 and a 52 week high of $176.69. The stock has a market cap of $3.11 billion, a price-to-earnings ratio of 57.48, a price-to-earnings-growth ratio of 0.63 and a beta of 1.57. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.10.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings results on Tuesday, April 28th. The transportation company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. The company had revenue of $998.79 million for the quarter, compared to analysts’ expectations of $999.07 million. ArcBest had a return on equity of 6.15% and a net margin of 1.38%.The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 earnings per share. Analysts forecast that ArcBest will post 5.87 EPS for the current year.

ArcBest Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $0.48 annualized dividend and a yield of 0.3%. ArcBest’s dividend payout ratio (DPR) is presently 19.75%.

Institutional Trading of ArcBest

A number of institutional investors have recently made changes to their positions in the stock. Glenmede Trust Co. NA increased its stake in shares of ArcBest by 1.5% during the first quarter. Glenmede Trust Co. NA now owns 6,162 shares of the transportation company’s stock valued at $606,000 after acquiring an additional 93 shares during the period. Federation des caisses Desjardins du Quebec raised its stake in shares of ArcBest by 0.4% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 22,995 shares of the transportation company’s stock worth $1,706,000 after buying an additional 100 shares in the last quarter. Seelaus Asset Management LLC lifted its holdings in shares of ArcBest by 3.5% in the fourth quarter. Seelaus Asset Management LLC now owns 3,710 shares of the transportation company’s stock valued at $275,000 after buying an additional 125 shares during the period. PNC Financial Services Group Inc. boosted its stake in ArcBest by 8.2% during the first quarter. PNC Financial Services Group Inc. now owns 1,775 shares of the transportation company’s stock valued at $175,000 after buying an additional 134 shares in the last quarter. Finally, ProShare Advisors LLC boosted its stake in ArcBest by 3.1% during the fourth quarter. ProShare Advisors LLC now owns 4,431 shares of the transportation company’s stock valued at $329,000 after buying an additional 135 shares in the last quarter. 99.27% of the stock is owned by institutional investors and hedge funds.

ArcBest Company Profile

ArcBest Corporation (NASDAQ: ARCB) is a transportation and logistics company that offers comprehensive freight and supply chain solutions across North America. Founded in 1923 as Arkansas Best Freight System, the company has evolved into a diversified service provider with both asset-based and asset-light operations. Its core businesses include less-than-truckload (LTL) shipping through ABF Freight, expedited full-truckload services via Panther Premium Logistics, and a range of logistics and supply chain management services under its ArcBest Integrated Logistics division.

The company’s asset-based operations also encompass FleetNet America, a provider of emergency roadside assistance and maintenance services for heavy-duty vehicles.