ArcBest Corporation (NASDAQ:ARCB) Receives $145.42 Average Price Target from Analysts

ArcBest Corporation (NASDAQ:ARCB) has earned an average recommendation of “Moderate Buy” from the fourteen ratings firms that are presently covering the company, Marketbeat reports. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $145.4167.

A number of research firms have commented on ARCB. JPMorgan Chase & Co. boosted their price target on shares of ArcBest from $117.00 to $147.00 and gave the stock a “neutral” rating in a research report on Monday, June 8th. Stifel Nicolaus increased their price objective on shares of ArcBest from $116.00 to $134.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Weiss Ratings lowered shares of ArcBest from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, May 28th. Zacks Research raised ArcBest from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Finally, Bank of America upped their target price on ArcBest from $138.00 to $160.00 and gave the stock a “neutral” rating in a research report on Friday, June 5th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ARCB. Federated Hermes Inc. raised its position in ArcBest by 126.6% in the fourth quarter. Federated Hermes Inc. now owns 1,015 shares of the transportation company’s stock worth $75,000 after acquiring an additional 567 shares in the last quarter. Hantz Financial Services Inc. grew 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 worth $83,000 after purchasing an additional 934 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of ArcBest in the 2nd quarter worth approximately $85,000. Assetmark Inc. raised its holdings in shares of ArcBest by 5,940.0% in the 4th quarter. Assetmark Inc. now owns 1,208 shares of the transportation company’s stock worth $90,000 after purchasing an additional 1,188 shares in the last quarter. Finally, KBC Group NV raised its holdings in shares of ArcBest by 69.4% in the 4th quarter. KBC Group NV now owns 1,299 shares of the transportation company’s stock worth $96,000 after purchasing an additional 532 shares in the last quarter. Institutional investors own 99.27% of the company’s stock.

ArcBest Price Performance

Shares of ARCB opened at $139.82 on Monday. ArcBest has a one year low of $59.43 and a one year high of $176.69. The stock’s fifty day moving average is $136.48 and its 200-day moving average is $108.94. 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 capitalization of $3.11 billion, a price-to-earnings ratio of 57.54, a price-to-earnings-growth ratio of 0.65 and a beta of 1.57.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings data on Tuesday, April 28th. The transportation company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.05. The business 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 quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.51 earnings per share. Equities analysts anticipate that ArcBest will post 5.87 EPS for the current year.

ArcBest Dividend Announcement

The company 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. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Friday, May 8th. ArcBest’s payout ratio is currently 19.75%.

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.