ArcBest (NASDAQ:ARCB) Shares Up 4.8% – Should You Buy?

ArcBest Corporation (NASDAQ:ARCB)’s stock price traded up 4.8% during mid-day trading on Friday . The stock traded as high as $155.68 and last traded at $153.0980. 70,468 shares changed hands during trading, a decline of 79% from the average session volume of 337,050 shares. The stock had previously closed at $146.08.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. TD Cowen raised their price target on ArcBest from $97.00 to $137.00 and gave the stock a “hold” rating in a report on Wednesday, April 29th. Wells Fargo & Company upped their price objective on shares of ArcBest from $130.00 to $150.00 and gave the company an “equal weight” rating in a report on Friday. Wall Street Zen upgraded shares of ArcBest from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Bank of America boosted their target price on shares of ArcBest from $138.00 to $160.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Weiss Ratings lowered shares of ArcBest from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, ArcBest presently has an average rating of “Moderate Buy” and an average price target of $131.42.

ArcBest Trading Up 5.0%

The company has a 50 day simple moving average of $117.75 and a two-hundred day simple moving average of $97.20. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market cap of $3.42 billion, a PE ratio of 63.29, a P/E/G ratio of 0.77 and a beta of 1.55.

ArcBest (NASDAQ:ARCB) last released its earnings results on Tuesday, April 28th. The transportation company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. ArcBest had a return on equity of 6.15% and a net margin of 1.38%.The firm had revenue of $998.79 million during the quarter, compared to the consensus estimate of $999.07 million. During the same quarter in the previous year, the company posted $0.51 earnings per share. The company’s revenue was up 3.3% compared to the same quarter last year. Analysts expect that ArcBest Corporation will post 5.29 EPS for the current fiscal year.

ArcBest Announces Dividend

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

Institutional Investors Weigh In On ArcBest

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Johnson Investment Counsel Inc. purchased a new stake in shares of ArcBest in the third quarter worth about $28,000. Smartleaf Asset Management LLC grew its stake in shares of ArcBest by 26.9% during the 3rd quarter. Smartleaf Asset Management LLC now owns 675 shares of the transportation company’s stock worth $47,000 after purchasing an additional 143 shares during the period. Federated Hermes Inc. increased its holdings in shares of ArcBest by 126.6% during the 4th quarter. Federated Hermes Inc. now owns 1,015 shares of the transportation company’s stock valued at $75,000 after purchasing an additional 567 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of ArcBest in the 2nd quarter valued at $85,000. Finally, Hantz Financial Services Inc. boosted its holdings in ArcBest by 507.6% during 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. 99.27% of the stock is owned by institutional investors and hedge funds.

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.