ArcBest Corporation (NASDAQ:ARCB) Short Interest Down 21.5% in January

ArcBest Corporation (NASDAQ:ARCB) saw a large decrease in short interest during the month of January. As of January 30th, there was short interest totaling 1,114,069 shares, a decrease of 21.5% from the January 15th total of 1,418,449 shares. Currently, 5.0% of the company’s shares are short sold. Based on an average trading volume of 403,034 shares, the days-to-cover ratio is currently 2.8 days. Based on an average trading volume of 403,034 shares, the days-to-cover ratio is currently 2.8 days. Currently, 5.0% of the company’s shares are short sold.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ARCB shares. UBS Group reiterated a “neutral” rating and issued a $98.00 target price on shares of ArcBest in a report on Wednesday, February 4th. 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 research report on Monday, February 2nd. Truist Financial lifted their target price on ArcBest from $85.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, January 15th. Stifel Nicolaus decreased their target price on ArcBest from $96.00 to $94.00 and set a “buy” rating for the company in a research note on Monday, February 2nd. Finally, Stephens set a $85.00 price target on ArcBest in a report on Tuesday, January 6th. Six research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $97.00.

ArcBest Stock Up 2.8%

NASDAQ:ARCB opened at $104.40 on Monday. The stock has a 50-day simple moving average of $86.90 and a 200 day simple moving average of $76.34. ArcBest has a 52-week low of $55.19 and a 52-week high of $112.92. The company has a market cap of $2.35 billion, a PE ratio of 40.00, a PEG ratio of 13.66 and a beta of 1.53. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.98 and a current ratio of 0.95.

ArcBest (NASDAQ:ARCB) last released its quarterly 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). ArcBest had a return on equity of 6.51% and a net margin of 1.50%.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 company earned $1.33 EPS. The company’s revenue was down 2.9% compared to the same quarter last year. On average, sell-side analysts expect that ArcBest will post 7 EPS for the current fiscal year.

ArcBest Dividend Announcement

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

Hedge Funds Weigh In On ArcBest

Large investors have recently modified their holdings of the business. Johnson Investment Counsel Inc. bought a new stake in ArcBest during the third quarter worth about $28,000. Smartleaf Asset Management LLC increased its position 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 worth $47,000 after purchasing an additional 143 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in shares of ArcBest during the 2nd quarter worth approximately $51,000. Federated Hermes Inc. raised its stake in shares of ArcBest by 126.6% during the 4th quarter. Federated Hermes Inc. now owns 1,015 shares of the transportation company’s stock worth $75,000 after purchasing an additional 567 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its holdings in shares of ArcBest by 507.6% in the 4th quarter. Hantz Financial Services Inc. now owns 1,118 shares of the transportation company’s stock valued at $83,000 after buying an additional 934 shares during the last quarter. 99.27% of the stock is currently owned by institutional investors and hedge funds.

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.