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

ArcBest Corporation (NASDAQ:ARCB) 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 changing hands. The stock had previously closed at $108.19.

Wall Street Analysts Forecast Growth

Several research firms have commented on ARCB. Stifel Nicolaus upped their price objective on shares of ArcBest from $94.00 to $116.00 and gave the company a “buy” rating in a report on Thursday. The Goldman Sachs Group reaffirmed a “buy” rating and set a $100.00 price objective on shares of ArcBest in a report on Saturday, January 31st. JPMorgan Chase & Co. upped their price objective on shares of ArcBest from $76.00 to $81.00 and gave the company a “neutral” rating in a report on Monday, February 2nd. Stephens set a $85.00 price target on ArcBest in a research report on Tuesday, January 6th. Finally, UBS Group reiterated a “neutral” rating and set a $98.00 price target on shares of ArcBest in a research report on Wednesday, February 4th. Six 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, ArcBest presently has an average rating of “Hold” and a consensus target price of $99.00.

ArcBest Price Performance

The business has a 50 day moving average of $99.73 and a 200 day moving average of $84.22. The company has a market cap of $2.53 billion, a PE 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 current ratio of 0.95 and a quick ratio of 0.95.

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

ArcBest Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 24th. Stockholders of record on Tuesday, February 10th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, February 10th. This represents a $0.48 annualized dividend and a dividend yield of 0.4%. ArcBest’s payout ratio is currently 18.39%.

Hedge Funds Weigh In On ArcBest

Several hedge funds have recently bought and sold shares of the business. Federation des caisses Desjardins du Quebec grew its position in ArcBest by 0.4% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 22,995 shares of the transportation company’s stock valued at $1,706,000 after acquiring an additional 100 shares during the last quarter. Seelaus Asset Management LLC grew its position in ArcBest by 3.5% in the 4th quarter. Seelaus Asset Management LLC now owns 3,710 shares of the transportation company’s stock valued at $275,000 after acquiring an additional 125 shares during the last quarter. ProShare Advisors LLC grew its position in ArcBest by 3.1% in the 4th quarter. ProShare Advisors LLC now owns 4,431 shares of the transportation company’s stock valued at $329,000 after acquiring an additional 135 shares during the last quarter. Smartleaf Asset Management LLC grew its position 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 acquiring an additional 143 shares during the last quarter. Finally, Capital Advisors Inc. OK grew its position in ArcBest by 3.4% in the 3rd quarter. Capital Advisors Inc. OK now owns 4,375 shares of the transportation company’s stock valued at $306,000 after acquiring an additional 145 shares during the last quarter. Institutional investors own 99.27% of the company’s stock.

About ArcBest

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.