ArcBest Corporation (NASDAQ:ARCB) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of ArcBest Corporation (NASDAQ:ARCB) have been assigned a consensus recommendation of “Moderate Buy” from the fourteen research firms that are covering the firm, MarketBeat.com reports. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $123.4167.

ARCB has been the topic of a number of research reports. Wall Street Zen upgraded ArcBest from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. The Goldman Sachs Group raised their price target on ArcBest from $102.00 to $117.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Morgan Stanley restated an “overweight” rating and set a $150.00 price target on shares of ArcBest in a research note on Wednesday, April 29th. UBS Group raised their price target on ArcBest from $98.00 to $122.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Finally, Truist Financial raised their price target on ArcBest from $95.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ARCB. Invesco Ltd. grew its stake in ArcBest by 625.4% during the 4th quarter. Invesco Ltd. now owns 920,498 shares of the transportation company’s stock worth $68,292,000 after buying an additional 793,607 shares during the last quarter. Turtle Creek Asset Management Inc. purchased a new position in ArcBest during the 3rd quarter worth approximately $39,508,000. Principal Financial Group Inc. lifted its position in ArcBest by 349.9% during the 4th quarter. Principal Financial Group Inc. now owns 493,780 shares of the transportation company’s stock worth $36,634,000 after acquiring an additional 384,024 shares during the period. Ameriprise Financial Inc. lifted its position in ArcBest by 158.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 490,064 shares of the transportation company’s stock worth $37,740,000 after acquiring an additional 300,642 shares during the period. Finally, Encompass Capital Advisors LLC acquired a new stake in ArcBest during the 4th quarter worth approximately $20,402,000. Hedge funds and other institutional investors own 99.27% of the company’s stock.

ArcBest Trading Up 0.2%

ARCB opened at $142.13 on Thursday. ArcBest has a one year low of $59.43 and a one year high of $142.76. The company has a market cap of $3.16 billion, a P/E ratio of 58.49, a PEG ratio of 0.77 and a beta of 1.55. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.93 and a current ratio of 0.93. The business’s 50-day simple moving average is $116.72 and its 200-day simple moving average is $96.62.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings data on Tuesday, April 28th. The transportation company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. ArcBest had a return on equity of 6.15% and a net margin of 1.38%.The business had revenue of $998.79 million for the quarter, compared to the consensus estimate of $999.07 million. During the same quarter in the prior year, the business posted $0.51 EPS. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, equities research analysts expect that ArcBest will post 5.29 EPS for the current fiscal year.

ArcBest Dividend Announcement

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

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.