ArcBest (NASDAQ:ARCB) Earns Market Outperform Rating from Analysts at Citizens Jmp

Citizens Jmp initiated coverage on shares of ArcBest (NASDAQ:ARCB) in a research report sent to investors on Wednesday, MarketBeat.com reports. The firm issued a market outperform rating and a $180.00 price target on the transportation company’s stock.

ARCB has been the topic of a number of other research reports. Citigroup initiated coverage on shares of ArcBest in a research note on Wednesday. They set a “market outperform” rating on the stock. Stephens upgraded ArcBest to a “strong-buy” rating in a research report on Wednesday, July 8th. JPMorgan Chase & Co. upped their price target on shares of ArcBest from $117.00 to $147.00 and gave the company a “neutral” rating in a research note on Monday, June 8th. Stifel Nicolaus upped their price objective on ArcBest from $116.00 to $134.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Finally, Truist Financial raised their target price on shares of ArcBest from $95.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $151.85.

ArcBest Stock Up 1.4%

ARCB opened at $159.81 on Wednesday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.10. ArcBest has a 1-year low of $59.43 and a 1-year high of $176.69. The company has a market capitalization of $3.56 billion, a PE ratio of 65.77, a PEG ratio of 0.66 and a beta of 1.57. The firm’s 50 day simple moving average is $142.59 and its two-hundred day simple moving average is $114.61.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings data 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 firm had revenue of $998.79 million during the quarter, compared to the consensus estimate of $999.07 million. ArcBest had a net margin of 1.38% and a return on equity of 6.15%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.51 EPS. As a group, equities analysts forecast that ArcBest will post 6.38 EPS for the current year.

ArcBest Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ARCB. Federated Hermes Inc. lifted its position in shares of ArcBest by 126.6% in the 4th quarter. Federated Hermes Inc. now owns 1,015 shares of the transportation company’s stock worth $75,000 after purchasing an additional 567 shares during the period. Canada Pension Plan Investment Board purchased a new position in ArcBest during the second quarter valued at approximately $85,000. Hantz Financial Services Inc. raised its stake in ArcBest by 507.6% in the fourth quarter. Hantz Financial Services Inc. now owns 1,118 shares of the transportation company’s stock worth $83,000 after buying an additional 934 shares in the last quarter. Assetmark Inc. raised its stake in ArcBest by 5,940.0% in the fourth quarter. Assetmark Inc. now owns 1,208 shares of the transportation company’s stock worth $90,000 after buying an additional 1,188 shares in the last quarter. Finally, KBC Group NV raised its stake in ArcBest by 69.4% in the fourth quarter. KBC Group NV now owns 1,299 shares of the transportation company’s stock worth $96,000 after buying an additional 532 shares in the last quarter. Hedge funds and other institutional investors own 99.27% of the company’s stock.

Key Stories Impacting ArcBest

Here are the key news stories impacting ArcBest this week:

• Positive Sentiment: Zacks said earnings estimate revisions for ArcBest are trending higher, which often supports a stronger stock price when analysts expect improving profitability. Earnings Estimates Rising for ArcBest (ARCB): Will It Gain?
• Positive Sentiment: Truist reportedly raised its price target on ArcBest to $165, and Citizens JMP initiated coverage, adding to the bullish analyst backdrop. ArcBest (NASDAQ:ARCB) Given New $165.00 Price Target at Truist Financial
• Positive Sentiment: ArcBest announced a simplified brand structure and operational streamlining, with MoLo Solutions, Panther Premium Logistics, and ArcBest Technologies consolidating under the ArcBest name, a move aimed at long-term growth and efficiency. ArcBest Simplifies Brand Structure and Streamlines Operations to Drive Long-Term Growth and Efficiency
• Positive Sentiment: The company also plans to reduce about 2% of its workforce and close 10 LTL terminals, which could lower costs and improve margins if execution goes well. ArcBest to Consolidate Brands, Cut About 2% of Workforce
• Neutral Sentiment: Momentum-focused coverage noted that ArcBest has gained about 5.34% over the past week, reinforcing recent trader interest but not adding a new fundamental catalyst. ArcBest (ARCB) Is Up 5.34% in One Week: What You Should Know
• Neutral Sentiment: Zacks also highlighted ArcBest as a fast-paced momentum stock that may still be reasonably valued, which supports the stock’s current trading interest. ArcBest (ARCB) Shows Fast-paced Momentum But Is Still a Bargain Stock

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.