ArcBest (NASDAQ:ARCB) Hits New 52-Week High – Time to Buy?

ArcBest Corporation (NASDAQ:ARCB) shares reached a new 52-week high on Thursday . The stock traded as high as $121.41 and last traded at $120.1910, with a volume of 19674 shares traded. The stock had previously closed at $118.45.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ARCB shares. TD Cowen reaffirmed a “hold” rating on shares of ArcBest in a report on Friday, January 9th. Stifel Nicolaus upped their target price on shares of ArcBest from $94.00 to $116.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Jefferies Financial Group upped their target price on shares of ArcBest from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. JPMorgan Chase & Co. upped their target price 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, Wells Fargo & Company upped their target price on shares of ArcBest from $74.00 to $85.00 and gave the stock an “equal weight” rating in a report on Sunday, February 1st. Six analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, ArcBest presently has a consensus rating of “Hold” and an average target price of $99.00.

ArcBest Trading Up 2.1%

The company’s 50-day moving average is $100.66 and its 200-day moving average is $85.89. The firm has a market cap of $2.70 billion, a price-to-earnings ratio of 46.30, a P/E/G ratio of 0.83 and a beta of 1.42. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.95 and a current ratio of 0.95.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings results on Friday, January 30th. The transportation company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.09). The company had revenue of $972.69 million for the quarter, compared to analyst estimates of $963.74 million. ArcBest had a return on equity of 6.51% and a net margin of 1.50%.The firm’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the company earned $1.33 EPS. On average, research analysts predict that ArcBest Corporation will post 4.75 earnings per share for the current year.

ArcBest Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 24th. Investors of record on Tuesday, February 10th were given a dividend of $0.12 per share. The ex-dividend date was Tuesday, February 10th. This represents a $0.48 annualized dividend and a yield of 0.4%. ArcBest’s dividend payout ratio is 18.39%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ARCB. Johnson Investment Counsel Inc. acquired a new position in ArcBest during the 3rd quarter worth about $28,000. Smartleaf Asset Management LLC lifted its position in 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 buying an additional 143 shares in the last quarter. Federated Hermes Inc. lifted its position in 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 during the period. Hantz Financial Services Inc. boosted its stake in shares of ArcBest by 507.6% in the 4th quarter. Hantz Financial Services Inc. now owns 1,118 shares of the transportation company’s stock valued at $83,000 after purchasing an additional 934 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in shares of ArcBest in the 2nd quarter valued at about $85,000. 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.