ArcBest Corporation (NASDAQ:ARCB) Receives $97.17 Consensus Price Target from Analysts

Shares of ArcBest Corporation (NASDAQ:ARCB) have been given an average recommendation of “Hold” by the fourteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. Eight analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $97.1667.

Several brokerages have issued reports on ARCB. Bank of America upped their price target on shares of ArcBest from $72.00 to $84.00 and gave the company a “neutral” rating in a report on Tuesday, December 23rd. Stephens set a $85.00 price objective on ArcBest in a research report on Tuesday, January 6th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of ArcBest in a research note on Wednesday, January 21st. Citigroup increased their target price on ArcBest from $105.00 to $107.00 and gave the company a “buy” rating in a report on Monday, March 9th. Finally, TD Cowen reissued a “hold” rating on shares of ArcBest in a research report on Friday, January 9th.

Hedge Funds Weigh In On ArcBest

Institutional investors and hedge funds have recently modified their holdings of the company. Invesco Ltd. grew its position in shares of ArcBest by 625.4% in the fourth quarter. Invesco Ltd. now owns 920,498 shares of the transportation company’s stock valued at $68,292,000 after purchasing an additional 793,607 shares during the period. Vident Advisory LLC grew its holdings in ArcBest by 6.4% in the 4th quarter. Vident Advisory LLC now owns 9,097 shares of the transportation company’s stock valued at $675,000 after buying an additional 548 shares during the period. VARCOV Co. acquired a new position in shares of ArcBest during the 4th quarter valued at about $959,000. Voloridge Investment Management LLC acquired a new position in shares of ArcBest during the 4th quarter valued at about $1,454,000. Finally, Numerai GP LLC lifted its holdings in shares of ArcBest by 448.6% during the 4th quarter. Numerai GP LLC now owns 30,154 shares of the transportation company’s stock worth $2,237,000 after acquiring an additional 24,657 shares during the period. Hedge funds and other institutional investors own 99.27% of the company’s stock.

ArcBest Stock Performance

NASDAQ ARCB opened at $92.03 on Friday. The business has a 50 day moving average price of $96.30 and a 200 day moving average price of $80.64. The company has a market capitalization of $2.05 billion, a P/E ratio of 35.26, a PEG ratio of 0.61 and a beta of 1.48. ArcBest has a 1-year low of $55.19 and a 1-year high of $112.92. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.95 and a quick ratio of 0.95.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings results on Friday, January 30th. The transportation company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.09). ArcBest had a net margin of 1.50% and a return on equity of 6.51%. The firm had revenue of $972.69 million during the quarter, compared to analysts’ expectations of $963.74 million. During the same quarter in the prior year, the business earned $1.33 EPS. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. Sell-side analysts expect that ArcBest will post 7 EPS for the current fiscal year.

ArcBest Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 24th. Investors of record on Tuesday, February 10th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, February 10th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.5%. ArcBest’s dividend payout ratio (DPR) is presently 18.39%.

About ArcBest

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.