ArcBest (NASDAQ:ARCB) Given New $81.00 Price Target at JPMorgan Chase & Co.

ArcBest (NASDAQ:ARCB) had its price objective upped by JPMorgan Chase & Co. from $76.00 to $81.00 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has a neutral rating on the transportation company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Wells Fargo & Company upped their price objective on shares of ArcBest from $74.00 to $85.00 and gave the company an “equal weight” rating in a research note on Sunday. Truist Financial upped their price target on shares of ArcBest from $85.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, January 15th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $100.00 price objective on shares of ArcBest in a research note on Saturday. Stephens set a $85.00 target price on ArcBest in a research note on Tuesday, January 6th. Finally, Stifel Nicolaus raised their price target on ArcBest from $85.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, January 21st. Six equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, ArcBest currently has a consensus rating of “Hold” and a consensus price target of $95.25.

ArcBest Price Performance

ARCB opened at $99.75 on Monday. The company has a current ratio of 0.95, a quick ratio of 0.98 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $2.25 billion, a P/E ratio of 38.22, a PEG ratio of 11.38 and a beta of 1.53. The stock has a 50-day moving average price of $79.59 and a 200-day moving average price of $74.72. ArcBest has a 12-month low of $55.19 and a 12-month high of $99.99.

ArcBest (NASDAQ:ARCB) last released its earnings results on Friday, January 30th. The transportation company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.09). The firm 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%.The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.33 EPS. Equities analysts predict that ArcBest will post 7 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Tuesday, February 10th. This represents a $0.48 annualized dividend and a yield of 0.5%. ArcBest’s dividend payout ratio (DPR) is 18.39%.

Hedge Funds Weigh In On ArcBest

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Johnson Investment Counsel Inc. bought a new stake in ArcBest in the third quarter valued at $28,000. Farther Finance Advisors LLC lifted its position in shares of ArcBest by 433.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 384 shares of the transportation company’s stock worth $30,000 after purchasing an additional 312 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of ArcBest by 26.9% during the 3rd 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 in the last quarter. FNY Investment Advisers LLC purchased a new position in shares of ArcBest during the second quarter valued at about $51,000. Finally, Canada Pension Plan Investment Board bought a new position in ArcBest in the second quarter worth about $85,000. 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.