ArcBest Co. (NASDAQ:ARCB) Short Interest Update

ArcBest Co. (NASDAQ:ARCB) was the recipient of a significant increase in short interest in June. As of June 15th, there was short interest totalling 1,740,000 shares, an increase of 16.0% from the May 31st total of 1,500,000 shares. Approximately 7.6% of the shares of the stock are short sold. Based on an average trading volume of 316,600 shares, the days-to-cover ratio is presently 5.5 days.

Analysts Set New Price Targets

A number of analysts recently commented on ARCB shares. Stifel Nicolaus dropped their target price on shares of ArcBest from $159.00 to $150.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. UBS Group reduced their target price on ArcBest from $150.00 to $126.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. TD Cowen cut their price objective on ArcBest from $177.00 to $148.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. JPMorgan Chase & Co. dropped their target price on shares of ArcBest from $164.00 to $145.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Finally, The Goldman Sachs Group upped their price target on shares of ArcBest from $133.00 to $149.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, ArcBest presently has a consensus rating of “Moderate Buy” and an average target price of $145.00.

ArcBest Stock Performance

Shares of ARCB opened at $108.64 on Wednesday. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of 21.86, a price-to-earnings-growth ratio of 0.83 and a beta of 1.48. The company’s fifty day moving average is $110.98 and its 200-day moving average is $124.82. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.12. ArcBest has a 12 month low of $86.93 and a 12 month high of $153.60.

ArcBest (NASDAQ:ARCB) last posted its earnings results on Tuesday, April 30th. The transportation company reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.19). The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. ArcBest had a net margin of 2.80% and a return on equity of 15.27%. ArcBest’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the business earned $1.58 earnings per share. Equities analysts expect that ArcBest will post 8.54 EPS for the current fiscal year.

ArcBest Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were issued a $0.12 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $0.48 annualized dividend and a yield of 0.44%. ArcBest’s dividend payout ratio (DPR) is currently 9.66%.

Hedge Funds Weigh In On ArcBest

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC lifted its stake in shares of ArcBest by 49.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 227 shares of the transportation company’s stock worth $27,000 after buying an additional 75 shares during the last quarter. Contravisory Investment Management Inc. lifted its position in ArcBest by 70.9% during the 1st quarter. Contravisory Investment Management Inc. now owns 188 shares of the transportation company’s stock worth $27,000 after acquiring an additional 78 shares during the last quarter. GAMMA Investing LLC bought a new stake in ArcBest during the fourth quarter valued at about $39,000. Parallel Advisors LLC grew its position in shares of ArcBest by 45.8% in the fourth quarter. Parallel Advisors LLC now owns 363 shares of the transportation company’s stock valued at $44,000 after purchasing an additional 114 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its stake in shares of ArcBest by 51.9% in the fourth quarter. Quadrant Capital Group LLC now owns 597 shares of the transportation company’s stock worth $72,000 after purchasing an additional 204 shares during the period. Institutional investors and hedge funds own 99.27% of the company’s stock.

ArcBest Company Profile

ArcBest Corporation, an integrated logistics company, engages in the provision of ground, air, and ocean transportation solutions. It operates through two segments: Asset-Based and Asset-Light. The Asset-Based segment provides less-than-truckload (LTL) services, that transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, non-bulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products.