ArcBest (NASDAQ:ARCB) Price Target Raised to $110.00

ArcBest (NASDAQ:ARCB) had its price objective hoisted by Jefferies Financial Group from $95.00 to $110.00 in a report published on Monday morning,Benzinga reports. They currently have a buy rating on the transportation company’s stock.

Several other research analysts have also recently commented on the stock. The Goldman Sachs Group restated a “buy” rating and issued a $100.00 target price on shares of ArcBest in a research report on Saturday. Stephens set a $85.00 price objective on ArcBest in a report on Tuesday, January 6th. Bank of America raised their target price on ArcBest from $72.00 to $84.00 and gave the company a “neutral” rating in a research report on Tuesday, December 23rd. Zacks Research raised ArcBest from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of ArcBest in a research report on Wednesday, January 21st. Six investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, ArcBest currently has an average rating of “Hold” and an average price target of $97.00.

ArcBest Trading Up 5.6%

NASDAQ:ARCB opened at $109.55 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.95 and a quick ratio of 0.98. The firm has a market capitalization of $2.47 billion, a P/E ratio of 41.97, a P/E/G ratio of 13.51 and a beta of 1.54. ArcBest has a 12-month low of $55.19 and a 12-month high of $109.95. The business has a 50 day simple moving average of $81.29 and a 200 day simple moving average of $75.14.

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

ArcBest Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 24th. Investors of record on Tuesday, February 10th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $0.48 annualized dividend and a yield of 0.4%. ArcBest’s dividend payout ratio (DPR) is currently 18.39%.

Institutional Investors Weigh In On ArcBest

Hedge funds and other institutional investors have recently bought and sold shares of the business. Seelaus Asset Management LLC boosted its position in shares of ArcBest by 3.5% during the 4th quarter. Seelaus Asset Management LLC now owns 3,710 shares of the transportation company’s stock valued at $275,000 after purchasing an additional 125 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of ArcBest by 26.9% in the 3rd quarter. Smartleaf Asset Management LLC now owns 675 shares of the transportation company’s stock worth $47,000 after purchasing an additional 143 shares in the last quarter. Capital Advisors Inc. OK raised its holdings in shares of ArcBest by 3.4% in the 3rd quarter. Capital Advisors Inc. OK now owns 4,375 shares of the transportation company’s stock worth $306,000 after purchasing an additional 145 shares in the last quarter. Rhumbline Advisers lifted its stake in ArcBest by 0.3% during the third quarter. Rhumbline Advisers now owns 69,115 shares of the transportation company’s stock valued at $4,829,000 after purchasing an additional 180 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in ArcBest by 12.9% during the third quarter. GAMMA Investing LLC now owns 1,809 shares of the transportation company’s stock worth $126,000 after buying an additional 206 shares in the last quarter. 99.27% of the stock is currently owned by 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.