ArcBest Corporation (NASDAQ:ARCB) Receives $97.00 Consensus Price Target from Analysts

Shares of ArcBest Corporation (NASDAQ:ARCB) have been assigned a consensus rating of “Hold” from the fourteen brokerages that are covering the firm, MarketBeat reports. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $97.00.

Several brokerages recently issued reports on ARCB. Truist Financial boosted their price objective on ArcBest from $85.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, January 15th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of ArcBest in a research note on Wednesday, January 21st. Jefferies Financial Group increased their price objective on shares of ArcBest from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. JPMorgan Chase & Co. raised their price objective on shares of ArcBest from $76.00 to $81.00 and gave the stock a “neutral” rating in a report on Monday, February 2nd. Finally, Bank of America boosted their price objective on shares of ArcBest from $72.00 to $84.00 and gave the company a “neutral” rating in a research report on Tuesday, December 23rd.

ArcBest Price Performance

ARCB opened at $101.65 on Tuesday. The stock has a market cap of $2.29 billion, a P/E ratio of 38.95, a P/E/G ratio of 0.69 and a beta of 1.54. 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 fifty day simple moving average of $91.65 and a 200 day simple moving average of $78.15.

ArcBest (NASDAQ:ARCB) last posted its earnings results 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%. During the same period last year, the firm earned $1.33 earnings per share. ArcBest’s revenue was down 2.9% on a year-over-year basis. On average, research analysts expect that ArcBest will post 7 EPS for the current year.

ArcBest Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 24th. Stockholders of record on Tuesday, February 10th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Tuesday, February 10th. ArcBest’s dividend payout ratio is currently 18.39%.

Institutional Investors Weigh In On ArcBest

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Federation des caisses Desjardins du Quebec boosted its position in ArcBest by 0.4% during the 4th 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 during the last quarter. Seelaus Asset Management LLC lifted its position in shares of 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 purchasing an additional 125 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of 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 purchasing an additional 135 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in ArcBest by 26.9% in the 3rd quarter. Smartleaf Asset Management LLC now owns 675 shares of the transportation company’s stock valued at $47,000 after buying an additional 143 shares during the last quarter. Finally, Capital Advisors Inc. OK lifted its position in ArcBest by 3.4% during the 3rd quarter. Capital Advisors Inc. OK now owns 4,375 shares of the transportation company’s stock worth $306,000 after buying an additional 145 shares in the last quarter. Institutional investors and hedge funds own 99.27% of the company’s 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.