ArcBest Corporation (NASDAQ:ARCB) Short Interest Down 21.5% in January

ArcBest Corporation (NASDAQ:ARCB) saw a large decrease in short interest during the month of January. As of January 30th, there was short interest totaling 1,114,069 shares, a decrease of 21.5% from the January 15th total of 1,418,449 shares. Based on an average trading volume of 403,034 shares, the short-interest ratio is presently 2.8 days. Approximately 5.0% of the shares of the stock are sold short. Approximately 5.0% of the shares of the stock are sold short. Based on an average trading volume of 403,034 shares, the short-interest ratio is presently 2.8 days.

Institutional Trading of ArcBest

Several large investors have recently added to or reduced their stakes in ARCB. Vanguard Group Inc. raised its holdings in shares of ArcBest by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 2,451,162 shares of the transportation company’s stock valued at $181,852,000 after purchasing an additional 6,808 shares in the last quarter. Dimensional Fund Advisors LP increased its position in ArcBest by 0.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,349,439 shares of the transportation company’s stock worth $100,117,000 after buying an additional 7,816 shares during the last quarter. American Century Companies Inc. raised its holdings in ArcBest by 9.6% during the third quarter. American Century Companies Inc. now owns 817,091 shares of the transportation company’s stock valued at $57,090,000 after buying an additional 71,420 shares in the last quarter. Geode Capital Management LLC raised its holdings in ArcBest by 0.7% during the second quarter. Geode Capital Management LLC now owns 565,739 shares of the transportation company’s stock valued at $43,573,000 after buying an additional 4,048 shares in the last quarter. Finally, Turtle Creek Asset Management Inc. acquired a new stake in shares of ArcBest in the third quarter worth about $39,508,000. 99.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ARCB has been the subject of a number of recent analyst reports. Truist Financial increased their price target on ArcBest from $85.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, January 15th. TD Cowen reissued a “hold” rating on shares of ArcBest in a research report on Friday, January 9th. UBS Group restated a “neutral” rating and issued a $98.00 price target on shares of ArcBest in a research report on Wednesday, February 4th. Stephens set a $85.00 price objective on shares of ArcBest in a research report on Tuesday, January 6th. Finally, Bank of America increased their target price on ArcBest from $72.00 to $84.00 and gave the company a “neutral” rating in a report on Tuesday, December 23rd. Six analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $97.00.

ArcBest Stock Up 2.8%

Shares of ArcBest stock traded up $2.81 on Friday, hitting $104.40. 266,771 shares of the company traded hands, compared to its average volume of 429,103. ArcBest has a 12-month low of $55.19 and a 12-month high of $112.92. 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 cap of $2.35 billion, a PE ratio of 40.00, a PEG ratio of 13.66 and a beta of 1.54. The company has a 50-day moving average price of $86.90 and a 200 day moving average price of $76.31.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings data on Friday, January 30th. The transportation company reported $0.36 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $963.74 million. During the same period in the previous year, the business posted $1.33 EPS. ArcBest’s revenue for the quarter was down 2.9% on a year-over-year basis. Sell-side analysts predict that ArcBest will post 7 earnings per share for the current year.

ArcBest Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Tuesday, February 10th. This represents a $0.48 dividend on an annualized basis and a yield of 0.5%. ArcBest’s dividend payout ratio is currently 18.39%.

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.