ArcBest Corporation (NASDAQ:ARCB) Receives $155.08 Consensus PT from Brokerages

ArcBest Corporation (NASDAQ:ARCB) has been given a consensus recommendation of “Moderate Buy” by the fifteen analysts that are covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $155.0769.

Several equities analysts recently issued reports on ARCB shares. UBS Group raised their price target on ArcBest from $122.00 to $145.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 7th. The Goldman Sachs Group boosted their price objective on ArcBest from $117.00 to $165.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Truist Financial increased their price objective on ArcBest from $145.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. Stifel Nicolaus lifted their target price on shares of ArcBest from $134.00 to $176.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Finally, Citizens Jmp began coverage on shares of ArcBest in a report on Wednesday, July 15th. They set a “market outperform” rating and a $180.00 price target for the company.

Hedge Funds Weigh In On ArcBest

Hedge funds and other institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its position in ArcBest by 100.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 87,256 shares of the transportation company’s stock valued at $6,734,000 after purchasing an additional 43,803 shares during the last quarter. Aberdeen Group plc purchased a new position in shares of ArcBest during the fourth quarter valued at approximately $7,240,000. Unison Advisors LLC bought a new position in shares of ArcBest during the fourth quarter valued at approximately $780,000. Principal Financial Group Inc. lifted its stake in ArcBest by 349.9% in the fourth quarter. Principal Financial Group Inc. now owns 493,780 shares of the transportation company’s stock worth $36,634,000 after acquiring an additional 384,024 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in ArcBest by 19,008.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 122,292 shares of the transportation company’s stock valued at $9,073,000 after acquiring an additional 121,652 shares in the last quarter. 99.27% of the stock is owned by institutional investors.

ArcBest Stock Performance

NASDAQ ARCB opened at $149.48 on Friday. The company has a 50-day simple moving average of $147.83 and a two-hundred day simple moving average of $118.65. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. ArcBest has a 12-month low of $59.43 and a 12-month high of $176.69. The firm has a market cap of $3.33 billion, a price-to-earnings ratio of 61.51, a PEG ratio of 0.53 and a beta of 1.57.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings data on Tuesday, April 28th. The transportation company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.27 by $0.05. ArcBest had a return on equity of 6.15% and a net margin of 1.38%.The firm had revenue of $998.79 million for the quarter, compared to the consensus estimate of $999.07 million. During the same quarter in the previous year, the business earned $0.51 earnings per share. The company’s quarterly revenue was up 3.3% on a year-over-year basis. On average, equities analysts forecast that ArcBest will post 6.62 EPS for the current year.

ArcBest Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, August 7th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Friday, August 7th. ArcBest’s dividend payout ratio (DPR) is 19.75%.

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.