ArcBest (NASDAQ:ARCB) PT Raised to $95.00 at Stephens

ArcBest (NASDAQ:ARCB) had its price objective hoisted by Stephens from $60.00 to $95.00 in a report released on Wednesday morning, The Fly reports. The brokerage currently has an overweight rating on the transportation company’s stock.

Several other equities research analysts also recently weighed in on ARCB. Vertical Research started coverage on ArcBest in a report on Thursday, April 1st. They issued a hold rating and a $72.00 price objective for the company. Morgan Stanley increased their price target on ArcBest from $70.00 to $90.00 and gave the stock an overweight rating in a report on Wednesday, March 31st. Cowen increased their price target on ArcBest from $46.00 to $55.00 and gave the stock an outperform rating in a report on Wednesday, February 3rd. Smith Barney Citigroup increased their price target on ArcBest from $47.00 to $60.00 in a report on Thursday, January 14th. Finally, Zacks Investment Research downgraded ArcBest from a buy rating to a hold rating in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. ArcBest has an average rating of Buy and an average target price of $55.92.

ARCB stock opened at $71.87 on Wednesday. The company has a market capitalization of $1.83 billion, a P/E ratio of 45.78, a PEG ratio of 1.26 and a beta of 1.80. ArcBest has a twelve month low of $17.20 and a twelve month high of $74.99. The business has a 50 day simple moving average of $66.48 and a 200-day simple moving average of $47.23. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.28.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings data on Monday, February 1st. The transportation company reported $0.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.05. The business had revenue of $816.70 million during the quarter, compared to the consensus estimate of $802.11 million. ArcBest had a return on equity of 9.58% and a net margin of 1.47%. The firm’s revenue was up 13.8% compared to the same quarter last year. Research analysts predict that ArcBest will post 3.16 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 25th. Shareholders of record on Thursday, February 11th were given a $0.08 dividend. This is a boost from ArcBest’s previous quarterly dividend of $0.03. The ex-dividend date was Wednesday, February 10th. This represents a $0.32 annualized dividend and a yield of 0.45%. ArcBest’s dividend payout ratio is presently 11.11%.

In other news, VP Michael R. Johns sold 1,629 shares of the firm’s stock in a transaction on Tuesday, February 9th. The stock was sold at an average price of $52.68, for a total value of $85,815.72. Also, Director Kathleen D. Mcelligott sold 5,000 shares of the firm’s stock in a transaction on Monday, March 15th. The shares were sold at an average price of $71.57, for a total value of $357,850.00. Following the completion of the transaction, the director now owns 19,600 shares of the company’s stock, valued at approximately $1,402,772. The disclosure for this sale can be found here. Corporate insiders own 1.88% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Everence Capital Management Inc. purchased a new position in shares of ArcBest in the first quarter valued at $485,000. Pacer Advisors Inc. increased its position in shares of ArcBest by 175.4% in the first quarter. Pacer Advisors Inc. now owns 22,119 shares of the transportation company’s stock valued at $1,557,000 after buying an additional 14,087 shares in the last quarter. Susquehanna International Group LLP increased its position in shares of ArcBest by 94.9% in the fourth quarter. Susquehanna International Group LLP now owns 17,155 shares of the transportation company’s stock valued at $732,000 after buying an additional 8,355 shares in the last quarter. Truist Financial Corp increased its position in shares of ArcBest by 5.9% in the fourth quarter. Truist Financial Corp now owns 20,978 shares of the transportation company’s stock valued at $895,000 after buying an additional 1,167 shares in the last quarter. Finally, SummerHaven Investment Management LLC purchased a new position in shares of ArcBest in the fourth quarter valued at $632,000. Institutional investors and hedge funds own 88.55% of the company’s stock.

ArcBest Company Profile

ArcBest Corporation provides freight transportation and integrated logistics services. It operates through three segments: Asset-Based, ArcBest, and FleetNet. The Asset-Based segment transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, nonbulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products through less-than-truckload services.

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