ArcBest Corporation (ARCB) – What Are Analysts Thinking About This Stock?

Shares of ArcBest Corporation (NASDAQ:ARCB) have been given an average recommendation of “Moderate Buy” by the fifteen analysts that are currently covering the stock, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $154.15.

Several research analysts have recently weighed in on ARCB shares. JPMorgan Chase & Co. boosted their target price on ArcBest from $158.00 to $164.00 and gave the stock a “neutral” rating in a report on Thursday. Truist Financial lowered their price target on shares of ArcBest from $165.00 to $160.00 and set a “buy” rating on the stock in a research report on Wednesday, October 7th. Citigroup raised their price objective on shares of ArcBest from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday. Zacks Research cut shares of ArcBest from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 5th. Finally, Citizens Jmp began coverage on ArcBest in a report on Wednesday, July 15th. They issued a “market outperform” rating and a $180.00 price objective on the stock.

ArcBest Price Performance

NASDAQ:ARCB opened at $133.59 on Friday. The stock has a 50 day moving average of $131.41 and a two-hundred day moving average of $125.14. ArcBest has a 12 month low of $59.43 and a 12 month high of $176.69. The firm has a market cap of $2.99 billion, a P/E ratio of 24.52, a price-to-earnings-growth ratio of 0.42 and a beta of 1.71. The company has a current ratio of 1.00, a quick ratio of 0.97 and a debt-to-equity ratio of 0.08.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings data on Wednesday, November 4th. The transportation company reported $2.62 EPS for the quarter, beating the consensus estimate of $2.50 by $0.12. The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.20 billion. ArcBest had a return on equity of 9.93% and a net margin of 0.66%. The firm’s revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.46 EPS. On average, analysts expect that ArcBest will post 7.12 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, November 27th. Stockholders of record on Friday, November 13th 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 of this dividend is Friday, November 13th. ArcBest’s payout ratio is 69.57%.

Insider Buying and Selling at ArcBest

In related news, VP Jason Parks sold 855 shares of ArcBest stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $135.09, for a total value of $115,501.95. Following the completion of the sale, the vice president owned 3,794 shares in the company, valued at approximately $512,531.46. This trade represents a 18.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.98% of the company’s stock.

Hedge Funds Weigh In On ArcBest

A number of hedge funds and other institutional investors have recently bought and sold shares of ARCB. Maryland State Retirement & Pension System raised its holdings in shares of ArcBest by 54.7% in the 3rd quarter. Maryland State Retirement & Pension System now owns 5,013 shares of the transportation company’s stock valued at $639,000 after purchasing an additional 1,773 shares in the last quarter. Ritholtz Wealth Management raised its stake in ArcBest by 9.3% in the third quarter. Ritholtz Wealth Management now owns 6,291 shares of the transportation company’s stock valued at $802,000 after buying an additional 533 shares in the last quarter. Illinois Municipal Retirement Fund lifted its holdings in ArcBest by 18.8% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 11,617 shares of the transportation company’s stock worth $1,480,000 after buying an additional 1,835 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in ArcBest by 39.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 28,916 shares of the transportation company’s stock worth $3,748,000 after buying an additional 8,244 shares during the last quarter. Finally, Pictet Asset Management Holding SA boosted its position in shares of ArcBest by 7.3% during the 3rd quarter. Pictet Asset Management Holding SA now owns 3,343 shares of the transportation company’s stock worth $426,000 after acquiring an additional 227 shares in the last quarter. 99.27% of the stock is currently owned by hedge funds and other institutional investors.

Key ArcBest News

Here are the key news stories impacting ArcBest this week:

• Positive Sentiment: ArcBest reported Q3 adjusted earnings of $2.62 per share, above the $2.50 consensus estimate, and revenue of $1.21 billion versus $1.20 billion expected. Revenue increased 15.5% year over year. Higher shipment weights help ArcBest beat Q3 expectations
• Positive Sentiment: Higher shipment weights helped results, while executives said the July reorganization contributed to the quarter’s performance. CEO Seth Runser also cited emerging “green shoots” in demand, suggesting conditions may be improving. ArcBest’s Runser says demand green shoots are emerging
• Positive Sentiment: Citigroup raised its price target to $175 and reiterated a Buy rating. JPMorgan lifted its target to $164, although it maintained a Neutral rating. Citigroup stock recommendations JPMorgan Chase stock recommendations
• Negative Sentiment: Management’s outlook was more cautious: ArcBest indicated ABF Freight’s operating ratio could worsen by 50–150 basis points sequentially in Q4 and projected $7–$10 million in operating income for its Asset-Light segment. The forecast may temper enthusiasm after the earnings beat. ArcBest signals Q4 operating outlook
• Negative Sentiment: A valuation-focused article argued ARCB may look expensive after a roughly 115% run, raising the risk that investors take profits despite improving quarterly results. ArcBest stock looks overvalued after its 115% run

ArcBest Company Profile

ArcBest Corporation (NASDAQ: ARCB) is a multibillion-dollar logistics company headquartered in Fort Smith, Arkansas. The company provides freight transportation and supply chain solutions through a combination of asset-based and asset-light operations, serving businesses across North America and supporting select international shipping needs.

Its asset-based business is led by ABF Freight, a less-than-truckload carrier that transports palletized and industrial freight. ArcBest also offers expedited transportation, truckload and brokerage services, intermodal transportation, managed transportation, warehouse and distribution support, and supply chain consulting.