ArcBest Corporation (NASDAQ:ARCB) Receives $123.42 Average PT from Brokerages

Shares of ArcBest Corporation (NASDAQ:ARCB) have received a consensus recommendation of “Moderate Buy” from the fourteen analysts that are presently covering the firm, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $123.4167.

A number of research analysts have recently commented on the company. UBS Group raised their target price on ArcBest from $98.00 to $122.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Weiss Ratings restated a “hold (c-)” rating on shares of ArcBest in a research note on Wednesday, January 21st. Wall Street Zen upgraded ArcBest from a “hold” rating to a “buy” rating in a research note on Saturday. Wells Fargo & Company raised their target price on ArcBest from $85.00 to $130.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 29th. Finally, The Goldman Sachs Group raised their target price on ArcBest from $102.00 to $117.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th.

ArcBest Price Performance

Shares of ARCB stock opened at $112.92 on Friday. The firm has a market cap of $2.51 billion, a P/E ratio of 46.47, a P/E/G ratio of 0.64 and a beta of 1.55. ArcBest has a fifty-two week low of $59.43 and a fifty-two week high of $135.10. The business’s 50 day moving average price is $105.40 and its 200-day moving average price is $90.08. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.93 and a current ratio of 0.93.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings data on Tuesday, April 28th. The transportation company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. The firm had revenue of $998.79 million for the quarter, compared to analyst estimates of $999.07 million. ArcBest had a return on equity of 6.15% and a net margin of 1.38%.The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the company earned $0.51 EPS. On average, equities research analysts anticipate that ArcBest will post 5.29 earnings per share for the current year.

ArcBest Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders 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 dividend yield of 0.4%. The ex-dividend date is Friday, May 8th. ArcBest’s dividend payout ratio (DPR) is presently 19.75%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Federation des caisses Desjardins du Quebec raised its stake in ArcBest by 0.4% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 22,995 shares of the transportation company’s stock valued at $1,706,000 after buying an additional 100 shares during the last quarter. Seelaus Asset Management LLC raised its stake in ArcBest by 3.5% during the fourth quarter. Seelaus Asset Management LLC now owns 3,710 shares of the transportation company’s stock valued at $275,000 after buying an additional 125 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in ArcBest by 8.2% during the first quarter. PNC Financial Services Group Inc. now owns 1,775 shares of the transportation company’s stock valued at $175,000 after buying an additional 134 shares during the last quarter. ProShare Advisors LLC raised its stake in ArcBest by 3.1% during the fourth quarter. ProShare Advisors LLC now owns 4,431 shares of the transportation company’s stock valued at $329,000 after buying an additional 135 shares during the last quarter. Finally, 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 valued at $47,000 after buying an additional 143 shares during the last quarter. Hedge funds and other institutional investors 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.