ArcBest Corporation (NASDAQ:ARCB) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• ArcBest now has a consensus analyst rating of “Moderate Buy” from 14 covering analysts, with an average 1-year price target of about $123.42.
• Recent analyst actions were mixed but generally constructive: TD Cowen and Wells Fargo both raised price targets sharply, while Goldman Sachs also increased its target and Wall Street Zen upgraded the stock to buy.
• The company reported better-than-expected quarterly earnings of $0.32 per share, though revenue was roughly in line with estimates; ArcBest also declared a quarterly dividend of $0.12 per share.

Shares of ArcBest Corporation (NASDAQ:ARCB - Get Free Report) have been assigned an average rating of "Moderate Buy" from the fourteen analysts that are presently covering the stock, MarketBeat reports. Seven equities research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $123.4167.

A number of research firms recently issued reports on ARCB. TD Cowen lifted their price target on shares of ArcBest from $97.00 to $137.00 and gave the company a "hold" rating in a research note on Wednesday, April 29th. Wells Fargo & Company lifted their price target on shares of ArcBest from $85.00 to $130.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 29th. Wall Street Zen raised shares of ArcBest from a "hold" rating to a "buy" rating in a research note on Saturday. The Goldman Sachs Group lifted their price target on shares of ArcBest from $102.00 to $117.00 and gave the company a "buy" rating in a research note on Tuesday, April 28th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of ArcBest in a research note on Wednesday, January 21st.

ArcBest Price Performance

NASDAQ:ARCB opened at $120.97 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.95. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of 49.78, a price-to-earnings-growth ratio of 0.65 and a beta of 1.55. The company has a 50 day moving average price of $104.38 and a 200-day moving average price of $89.21. ArcBest has a 1-year low of $59.43 and a 1-year high of $135.10.

ArcBest (NASDAQ:ARCB - Get Free Report) last posted 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. The firm had revenue of $998.79 million during the quarter, compared to analyst estimates of $999.07 million. ArcBest had a net margin of 1.38% and a return on equity of 6.15%. The business's quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.51 EPS. Equities research analysts forecast that ArcBest will post 5.29 EPS for the current year.

ArcBest Announces Dividend

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. The ex-dividend date of this dividend is Friday, May 8th. This represents a $0.48 dividend on an annualized basis and a yield of 0.4%. ArcBest's dividend payout ratio (DPR) is currently 19.75%.

Institutional Investors Weigh In On ArcBest

A number of institutional investors have recently added to or reduced their stakes in the stock. Johnson Investment Counsel Inc. purchased a new position in ArcBest in the 3rd quarter valued at $28,000. Smartleaf Asset Management LLC lifted its holdings in ArcBest by 26.9% in the 3rd quarter. Smartleaf Asset Management LLC now owns 675 shares of the transportation company's stock valued at $47,000 after purchasing an additional 143 shares in the last quarter. Federated Hermes Inc. lifted its holdings in ArcBest by 126.6% in the 4th quarter. Federated Hermes Inc. now owns 1,015 shares of the transportation company's stock valued at $75,000 after purchasing an additional 567 shares in the last quarter. Hantz Financial Services Inc. lifted its holdings in ArcBest by 507.6% in the 4th quarter. Hantz Financial Services Inc. now owns 1,118 shares of the transportation company's stock valued at $83,000 after purchasing an additional 934 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in ArcBest in the 2nd quarter valued at $85,000. 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.

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