ArcBest Corporation (NASDAQ:ARCB) Receives $97.00 Consensus PT from Brokerages

ArcBest Corporation (NASDAQ:ARCB) has received a consensus recommendation of “Hold” from the fourteen brokerages that are currently covering the company, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $97.00.

Several research firms recently commented on ARCB. JPMorgan Chase & Co. boosted their price objective on shares of ArcBest from $76.00 to $81.00 and gave the stock a “neutral” rating in a research note on Monday, February 2nd. Weiss Ratings reissued a “hold (c-)” rating on shares of ArcBest in a research report on Wednesday, January 21st. Truist Financial upped their price target on ArcBest from $85.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, January 15th. Wells Fargo & Company lifted their price objective on ArcBest from $74.00 to $85.00 and gave the company an “equal weight” rating in a research note on Sunday, February 1st. Finally, Zacks Research raised ArcBest from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th.

Institutional Investors Weigh In On ArcBest

A number of institutional investors have recently made changes to their positions in ARCB. Vanguard Group Inc. raised its holdings in ArcBest by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 2,451,162 shares of the transportation company’s stock worth $181,852,000 after acquiring an additional 6,808 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of ArcBest by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,349,439 shares of the transportation company’s stock worth $100,117,000 after purchasing an additional 7,816 shares in the last quarter. Invesco Ltd. increased its holdings in shares of ArcBest by 625.4% in the 4th quarter. Invesco Ltd. now owns 920,498 shares of the transportation company’s stock worth $68,292,000 after purchasing an additional 793,607 shares in the last quarter. American Century Companies Inc. raised its stake in shares of ArcBest by 9.6% in the third quarter. American Century Companies Inc. now owns 817,091 shares of the transportation company’s stock worth $57,090,000 after purchasing an additional 71,420 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of 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 purchasing an additional 4,048 shares in the last quarter. Hedge funds and other institutional investors own 99.27% of the company’s stock.

ArcBest Price Performance

Shares of ARCB stock opened at $102.66 on Tuesday. The business’s fifty day moving average is $92.14 and its 200 day moving average is $78.42. 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 stock has a market cap of $2.29 billion, a price-to-earnings ratio of 39.33, a PEG ratio of 0.74 and a beta of 1.54. ArcBest has a twelve month low of $55.19 and a twelve month high of $112.92.

ArcBest (NASDAQ:ARCB) last announced its earnings results on Friday, January 30th. The transportation company reported $0.36 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 company’s revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.33 EPS. Research analysts expect that ArcBest will post 7 EPS for the current fiscal year.

ArcBest Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 24th. Investors of record on Tuesday, February 10th were paid a $0.12 dividend. The ex-dividend date was Tuesday, February 10th. This represents a $0.48 dividend on an annualized basis and a yield of 0.5%. 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.