ArcBest Corporation (NASDAQ:ARCB) Receives $123.42 Average PT from Brokerages

ArcBest Corporation (NASDAQ:ARCB) has received a consensus recommendation of “Moderate Buy” from the fourteen analysts that are presently covering the company, Marketbeat.com reports. Seven research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $137.0833.

A number of research firms have issued reports on ARCB. Morgan Stanley reiterated an “overweight” rating and issued a $150.00 target price on shares of ArcBest in a research note on Wednesday, April 29th. Zacks Research upgraded shares of ArcBest from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Weiss Ratings cut shares of ArcBest from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, May 28th. Bank of America lifted their price objective on shares of ArcBest from $138.00 to $160.00 and gave the company a “neutral” rating in a research note on Friday, June 5th. 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.

Institutional Investors Weigh In On ArcBest

Hedge funds and other institutional investors have recently modified their holdings of the stock. Glenmede Trust Co. NA raised its position in ArcBest by 1.5% in the first quarter. Glenmede Trust Co. NA now owns 6,162 shares of the transportation company’s stock worth $606,000 after acquiring an additional 93 shares in the last quarter. Federation des caisses Desjardins du Quebec raised its position in ArcBest by 0.4% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 22,995 shares of the transportation company’s stock worth $1,706,000 after acquiring an additional 100 shares in the last quarter. Seelaus Asset Management LLC raised its position in ArcBest by 3.5% in the fourth quarter. Seelaus Asset Management LLC now owns 3,710 shares of the transportation company’s stock worth $275,000 after acquiring an additional 125 shares in the last quarter. PNC Financial Services Group Inc. raised its position in ArcBest by 8.2% in the first quarter. PNC Financial Services Group Inc. now owns 1,775 shares of the transportation company’s stock worth $175,000 after acquiring an additional 134 shares in the last quarter. Finally, ProShare Advisors LLC raised its position in ArcBest by 3.1% in the fourth quarter. ProShare Advisors LLC now owns 4,431 shares of the transportation company’s stock worth $329,000 after acquiring an additional 135 shares in the last quarter. 99.27% of the stock is currently owned by institutional investors.

ArcBest Stock Performance

Shares of ARCB opened at $165.16 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market capitalization of $3.68 billion, a PE ratio of 67.97, a price-to-earnings-growth ratio of 0.84 and a beta of 1.55. ArcBest has a 12-month low of $59.43 and a 12-month high of $173.59. The business’s fifty day moving average price is $123.41 and its 200 day moving average price is $100.12.

ArcBest (NASDAQ:ARCB) last posted its earnings results on Tuesday, April 28th. The transportation company reported $0.32 earnings per share (EPS) 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 firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the business posted $0.51 earnings per share. Equities research analysts forecast that ArcBest will post 5.47 EPS for the current year.

ArcBest Dividend Announcement

The business also recently disclosed 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 dividend yield of 0.3%. The ex-dividend date was Friday, May 8th. ArcBest’s payout ratio 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.