ArcBest Corporation (NASDAQ:ARCB) Sees Significant Decrease in Short Interest

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Bryce Point Capital LLC acquired a new stake in shares of ArcBest in the third quarter valued at about $476,000. Summit Global Investments purchased a new position in ArcBest in the third quarter valued at about $939,000. Partners Group Holding AG lifted its position in shares of ArcBest by 23.2% during the 2nd quarter. Partners Group Holding AG now owns 147,476 shares of the transportation company’s stock valued at $11,357,000 after acquiring an additional 27,797 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of ArcBest during the 2nd quarter worth approximately $1,759,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new stake in shares of ArcBest in the 2nd quarter worth approximately $355,000. Institutional investors and hedge funds own 99.27% of the company’s stock.

ArcBest Stock Up 2.8%

Shares of NASDAQ:ARCB opened at $104.40 on Tuesday. ArcBest has a 1-year low of $55.19 and a 1-year high of $112.92. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.95 and a quick ratio of 0.98. The stock has a market cap of $2.35 billion, a P/E ratio of 40.00, a P/E/G ratio of 13.66 and a beta of 1.53. The firm has a fifty day moving average price of $87.60 and a 200 day moving average price of $76.56.

ArcBest (NASDAQ:ARCB) last posted 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 net margin of 1.50% and a return on equity of 6.51%. The business had revenue of $972.69 million during the quarter, compared to analyst estimates of $963.74 million. During the same quarter in the prior year, the firm posted $1.33 earnings per share. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. Sell-side analysts predict that ArcBest will post 7 EPS for the current year.

ArcBest Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ARCB. JPMorgan Chase & Co. raised 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. UBS Group reissued a “neutral” rating and issued a $98.00 target price on shares of ArcBest in a report on Wednesday, February 4th. Jefferies Financial Group lifted their price target on ArcBest from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of ArcBest in a research report on Wednesday, January 21st. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $100.00 target price on shares of ArcBest in a research report on Saturday, January 31st. Six equities research analysts have rated the stock with a Buy rating and eight have issued 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 $97.00.

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.