ArcBest (NASDAQ:ARCB) Hits New 12-Month High - Here's Why

Key Points

• ArcBest stock hit a new 52-week high of $113.59 (last $113.6150), rising about 4.8% on the day with roughly 250,600 shares traded.
• Analysts are mixed — six Buy and eight Hold ratings give an average rating of Hold and an average price target of $99, although several firms recently raised targets (Jefferies $110, Goldman $100, Truist $95).
• Fundamentals: ArcBest reported Q4 EPS of $0.36, missing estimates by $0.09 while revenue of $972.7M slightly beat consensus but was down 2.9% YoY; market cap is $2.53B, P/E 43.6, and the company pays a $0.12 quarterly dividend (0.4% yield).

ArcBest Corporation (NASDAQ:ARCB - Get Free Report)'s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $113.59 and last traded at $113.6150, with a volume of 250602 shares traded. The stock had previously closed at $108.19.

Analyst Upgrades and Downgrades

ARCB has been the subject of several analyst reports. Wells Fargo & Company raised their price target on shares of ArcBest from $74.00 to $85.00 and gave the stock an "equal weight" rating in a report on Sunday, February 1st. Truist Financial raised their price target on shares of ArcBest from $85.00 to $95.00 and gave the stock a "buy" rating in a report on Thursday, January 15th. The Goldman Sachs Group restated a "buy" rating and set a $100.00 price target on shares of ArcBest in a report on Saturday, January 31st. TD Cowen restated a "hold" rating on shares of ArcBest in a report on Friday, January 9th. Finally, Jefferies Financial Group raised their price target on shares of ArcBest from $95.00 to $110.00 and gave the stock a "buy" rating in a report on Monday, February 2nd. Six investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, ArcBest currently has an average rating of "Hold" and an average price target of $99.00.

ArcBest Stock Up 4.8%

The firm's 50 day moving average price is $99.73 and its two-hundred day moving average price is $84.22. The company has a market cap of $2.53 billion, a P/E ratio of 43.61, a price-to-earnings-growth ratio of 0.77 and a beta of 1.42. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.95 and a current ratio of 0.95.

ArcBest (NASDAQ:ARCB - Get Free Report) last announced its quarterly earnings results on Friday, January 30th. The transportation company reported $0.36 EPS for the quarter, missing analysts' consensus estimates of $0.45 by ($0.09). The business had revenue of $972.69 million for the quarter, compared to the consensus estimate of $963.74 million. ArcBest had a net margin of 1.50% and a return on equity of 6.51%. The business's revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.33 EPS. Equities research analysts anticipate that ArcBest Corporation will post 7 EPS for the current fiscal year.

ArcBest Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 24th. Shareholders of record on Tuesday, February 10th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Tuesday, February 10th. ArcBest's payout ratio is currently 18.39%.

Hedge Funds Weigh In On ArcBest

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Johnson Investment Counsel Inc. purchased a new position in shares of ArcBest in the 3rd quarter worth about $28,000. Smartleaf Asset Management LLC lifted its holdings 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 purchasing an additional 143 shares during the last quarter. Federated Hermes Inc. lifted its holdings in ArcBest by 126.6% during the fourth 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 during the last quarter. Hantz Financial Services Inc. lifted its holdings in ArcBest by 507.6% during the fourth 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 during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in ArcBest during the second quarter valued at about $85,000. 99.27% of the stock is owned by hedge funds and other institutional investors.

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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