ArcBest (NASDAQ:ARCB) Given New $110.00 Price Target at Jefferies Financial Group

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

Several other research analysts also recently commented on ARCB. Stephens set a $85.00 price objective on shares of ArcBest in a research report on Tuesday, January 6th. Citigroup lifted their price target on ArcBest from $104.00 to $105.00 and gave the company a “buy” rating in a research note on Monday. TD Cowen reissued a “hold” rating on shares of ArcBest in a report on Friday, January 9th. Wells Fargo & Company upped their price objective on ArcBest from $74.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Sunday. Finally, Zacks Research raised ArcBest from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Six analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $95.25.

ArcBest Trading Up 10.6%

ARCB opened at $99.75 on Monday. ArcBest has a twelve month low of $55.19 and a twelve month high of $99.99. The company has a 50-day simple moving average of $79.59 and a 200 day simple moving average of $74.72. The company has a quick ratio of 0.98, a current ratio of 0.95 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of 38.22, a P/E/G ratio of 11.38 and a beta of 1.53.

ArcBest (NASDAQ:ARCB) last released its earnings results on Friday, January 30th. The transportation company reported $0.36 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 during the quarter, compared to the consensus estimate of $963.74 million. During the same period in the prior year, the business earned $1.33 earnings per share. ArcBest’s quarterly revenue was down 2.9% compared to the same quarter last year. Analysts predict that ArcBest will post 7 EPS for the current fiscal year.

ArcBest Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 24th. Shareholders of record on Tuesday, February 10th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Tuesday, February 10th. ArcBest’s dividend payout ratio is presently 18.39%.

Institutional Trading of ArcBest

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Summit Global Investments bought a new stake in ArcBest in the third quarter valued at approximately $939,000. Partners Group Holding AG lifted its position in shares of ArcBest by 23.2% in the 2nd quarter. Partners Group Holding AG now owns 147,476 shares of the transportation company’s stock worth $11,357,000 after purchasing an additional 27,797 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of ArcBest in the 2nd quarter valued at $1,759,000. Envestnet Portfolio Solutions Inc. bought a new stake in shares of ArcBest in the 2nd quarter valued at $355,000. Finally, Farther Finance Advisors LLC increased its position in shares of ArcBest by 433.3% during the second quarter. Farther Finance Advisors LLC now owns 384 shares of the transportation company’s stock worth $30,000 after buying an additional 312 shares during the period. 99.27% of the stock is currently owned by institutional investors.

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.