ArcBest (NASDAQ:ARCB) Given New $107.00 Price Target at Citigroup

ArcBest (NASDAQ:ARCB) had its target price boosted by Citigroup from $105.00 to $107.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a buy rating on the transportation company’s stock.

Several other research analysts have also commented on the company. Truist Financial lifted their price target on ArcBest from $85.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, January 15th. Zacks Research upgraded ArcBest from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. The Goldman Sachs Group reiterated a “buy” rating and issued a $100.00 target price on shares of ArcBest in a report on Saturday, January 31st. UBS Group reissued a “neutral” rating and set a $98.00 target price on shares of ArcBest in a research report on Wednesday, February 4th. Finally, Stifel Nicolaus decreased their price target on ArcBest from $96.00 to $94.00 and set a “buy” rating on the stock in a report on Monday, February 2nd. Six 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 presently has a consensus rating of “Hold” and an average price target of $97.17.

ArcBest Price Performance

ArcBest stock opened at $94.14 on Monday. ArcBest has a 52-week low of $55.19 and a 52-week high of $112.92. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.10. The firm’s fifty day moving average is $94.96 and its 200 day moving average is $79.64. The company has a market cap of $2.10 billion, a price-to-earnings ratio of 36.07, a PEG ratio of 0.67 and a beta of 1.48.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings data on Friday, January 30th. The transportation company reported $0.36 EPS 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 business had revenue of $972.69 million during the quarter, compared to analysts’ expectations of $963.74 million. During the same period in the previous year, the business earned $1.33 earnings per share. The business’s quarterly revenue was down 2.9% on a year-over-year basis. Sell-side analysts forecast that ArcBest will post 7 EPS for the current fiscal year.

ArcBest Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 24th. Shareholders of record on Tuesday, February 10th were issued a dividend of $0.12 per share. The ex-dividend date was Tuesday, February 10th. This represents a $0.48 dividend on an annualized basis and a yield of 0.5%. ArcBest’s dividend payout ratio is currently 18.39%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Johnson Investment Counsel Inc. bought a new stake in ArcBest during the third quarter valued at about $28,000. Smartleaf Asset Management LLC raised its holdings in ArcBest by 26.9% in the third 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. Federated Hermes Inc. lifted its position in shares of ArcBest by 126.6% during the fourth quarter. Federated Hermes Inc. now owns 1,015 shares of the transportation company’s stock valued at $75,000 after buying an additional 567 shares during the last quarter. Hantz Financial Services Inc. lifted its position in shares of ArcBest by 507.6% during the fourth 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. Finally, Canada Pension Plan Investment Board bought a new stake in shares of ArcBest in the 2nd quarter valued at about $85,000. 99.27% of the stock is 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.