ArcBest (NASDAQ:ARCB) Price Target Raised to $145.00

ArcBest (NASDAQ:ARCB) had its price objective boosted by Truist Financial from $95.00 to $145.00 in a research note issued to investors on Wednesday, Marketbeat reports. Truist Financial currently has a buy rating on the transportation company’s stock.

A number of other equities analysts have also recently commented on ARCB. The Goldman Sachs Group lifted their price objective on shares of ArcBest from $102.00 to $117.00 and gave the stock a “buy” rating in a research report on Tuesday. Wells Fargo & Company lifted their price objective on shares of ArcBest from $74.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Sunday, February 1st. Morgan Stanley reaffirmed an “overweight” rating and set a $150.00 price objective on shares of ArcBest in a research report on Wednesday. Jefferies Financial Group lifted 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. Finally, Citigroup boosted their target price on shares of ArcBest from $122.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday. Six equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, ArcBest has a consensus rating of “Hold” and an average price target of $123.42.

ArcBest Stock Down 1.4%

ArcBest stock opened at $125.82 on Wednesday. The company has a market cap of $2.81 billion, a P/E ratio of 51.78, a price-to-earnings-growth ratio of 0.71 and a beta of 1.42. ArcBest has a 1-year low of $58.16 and a 1-year high of $135.10. The company has a fifty day simple moving average of $103.23 and a 200 day simple moving average of $87.98. The company has a current ratio of 0.93, a quick ratio of 0.95 and a debt-to-equity ratio of 0.10.

ArcBest (NASDAQ:ARCB) last released its earnings results on Tuesday, April 28th. The transportation company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.05. ArcBest had a net margin of 1.38% and a return on equity of 6.15%. The business had revenue of $998.79 million during the quarter, compared to analysts’ expectations of $999.07 million. During the same period last year, the business earned $0.51 earnings per share. The firm’s revenue was up 3.3% on a year-over-year basis. Research analysts anticipate that ArcBest will post 5.16 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Friday, May 8th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Friday, May 8th. ArcBest’s payout ratio is 19.75%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Johnson Investment Counsel Inc. acquired a new position in ArcBest during the third quarter worth about $28,000. Smartleaf Asset Management LLC raised its stake in ArcBest by 26.9% during the third quarter. Smartleaf Asset Management LLC now owns 675 shares of the transportation company’s stock worth $47,000 after acquiring an additional 143 shares in the last quarter. Federated Hermes Inc. raised its stake in ArcBest by 126.6% during 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. Canada Pension Plan Investment Board acquired a new position in ArcBest during the second quarter worth about $85,000. Finally, Hantz Financial Services Inc. raised its stake 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 acquiring an additional 934 shares in the last quarter. Institutional investors and hedge funds own 99.27% of the company’s stock.

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.