ArcBest Corporation (NASDAQ:ARCB) Receives $92.92 Consensus Target Price from Brokerages

ArcBest Corporation (NASDAQ:ARCB) has been assigned an average recommendation of “Hold” from the fourteen analysts that are presently covering the stock, MarketBeat reports. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $95.25.

Several equities analysts recently issued reports on ARCB shares. Zacks Research raised shares of ArcBest from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Stifel Nicolaus reduced their price target on ArcBest from $96.00 to $94.00 and set a “buy” rating on the stock in a research note on Monday. TD Cowen reaffirmed a “hold” rating on shares of ArcBest in a research report on Friday, January 9th. Citigroup upped their target price on ArcBest from $104.00 to $105.00 and gave the company a “buy” rating in a research note on Monday. Finally, JPMorgan Chase & Co. raised their price target on ArcBest from $76.00 to $81.00 and gave the stock a “neutral” rating in a research note on Monday.

Hedge Funds Weigh In On ArcBest

A number of hedge funds have recently made changes to their positions in the stock. Summit Global Investments purchased a new stake in shares of ArcBest during the 3rd quarter valued at about $939,000. Partners Group Holding AG grew its position in ArcBest by 23.2% in the second quarter. Partners Group Holding AG now owns 147,476 shares of the transportation company’s stock valued at $11,357,000 after acquiring an additional 27,797 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of ArcBest during the second quarter valued at approximately $1,759,000. Envestnet Portfolio Solutions Inc. acquired a new position in shares of ArcBest during the second quarter worth $355,000. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of ArcBest by 23.4% in the second quarter. Public Employees Retirement System of Ohio now owns 41,971 shares of the transportation company’s stock valued at $3,232,000 after purchasing an additional 7,955 shares during the period. Institutional investors and hedge funds own 99.27% of the company’s stock.

ArcBest Stock Up 4.0%

Shares of NASDAQ:ARCB opened at $103.74 on Friday. The company has a quick ratio of 0.98, a current ratio of 0.95 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $2.34 billion, a P/E ratio of 39.75, a P/E/G ratio of 12.60 and a beta of 1.54. ArcBest has a 52-week low of $55.19 and a 52-week high of $104.50. The stock’s fifty day simple moving average is $80.38 and its 200-day simple moving average is $74.90.

ArcBest (NASDAQ:ARCB) last announced its earnings results on Friday, January 30th. The transportation company reported $0.36 earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $963.74 million. During the same period in the previous year, the firm posted $1.33 EPS. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, equities research analysts forecast that ArcBest will post 7 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 24th. Investors of record on Tuesday, February 10th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Tuesday, February 10th. ArcBest’s payout ratio 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.