ArcBest Corporation (NASDAQ: ARCB) stock jumped 1.27% on Monday to $103.22 against a previous-day closing price of $101.93. With 0.62 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.47 million shares. During the session, the Trucking company that operates in wider Industrials sector, reached to the highest price of $105.59 whereas the lowest price it dropped to was $102.60. The 52-week range on ARCB shows that it touched its highest point at $122.86 and its lowest point at $68.00 during that stretch. It currently has a 1-year price target of $134.00. With its current market cap of 2.51 billion, ARCB has annualized dividend of $0.48 while the current yield stands at 0.47%. Beta for the stock currently stands at 1.59.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ARCB was up-trending over the past week, with a rise of 5.35%, but this was up by 0.98% over a month. Three-month performance surged to 16.99% while six-month performance rose 16.66%. The stock gained 38.77% in the past year, while it has gained 47.37% so far this year. A look at the trailing 12-month EPS for ARCB yields 7.34 with Next year EPS estimates of 9.75. For the next quarter, that number is 1.73. This implies an EPS growth rate of 46.60% for this year and 48.42% for next year. EPS is expected to decline by -3.02% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 55.80%.
Float and Shares Shorts:
At present, 24.07 million ARCB shares are outstanding with a float of 23.67 million shares on hand for trading. On Aug 30, 2023, short shares totaled 1.2 million, which was 5.01% higher than short shares on Jul 30, 2023. In addition to Ms. Judy R. McReynolds as the firm’s Chairman, Pres & CEO, Mr. David R. Cobb serves as its Sr. Advisor.
Institutional Ownership:
Through their ownership of 92.76% of ARCB’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 9.37% of ARCB, in contrast to 60.12% held by mutual funds. Shares owned by individuals account for 36.53%. As the largest shareholder in ARCB with 14.88% of the stake, BlackRock Fund Advisors holds 3,575,486 shares worth 3,575,486. A second-largest stockholder of ARCB, The Vanguard Group, Inc., holds 2,616,672 shares, controlling over 10.89% of the firm’s shares. Dimensional Fund Advisors LP is the third largest shareholder in ARCB, holding 1,852,684 shares or 7.71% stake. With a 7.03% stake in ARCB, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 1,689,842 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 3.01% of ARCB stock, is the second-largest Mutual Fund holder. It holds 722,178 shares valued at 76.25 million. DFA US Small Cap Value Portfolio holds 2.55% of the stake in ARCB, owning 613,281 shares worth 64.76 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, ARCB reported revenue of $1.39B and operating income of $137.35M. The EBITDA in the recently reported quarter was $170.23M and diluted EPS was $4.00.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ARCB since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With ARCB analysts setting a high price target of $150.00 and a low target of $110.00, the average target price over the next 12 months is $132.00. Based on these targets, ARCB could surge 45.32% to reach the target high and rise by 6.57% to reach the target low. Reaching the average price target will result in a growth of 27.88% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Dividends & Yield:
In terms of dividends, ARCB has a current ratio of $0.48, which is $0.48 over the trailing 12-months, while a dividend of $0.35 is likely to be paid on average over the next five years. Dividend yield is another indicator that appeals to many investors, and ARCB currently yields $0.47. In the past year, ARCB’s dividend yield has been $0.47, but when looking at the stock over the past five years, its yield has been $0.76. Accordingly, ARCB has a current buyback yield of $3.02. This was $3.02 for the TTM, and it was $2.12 for the past five years.
Summary of Insider Activity:
Insiders traded ARCB stock several times over the past three months with 0 Buys and 24 Sells. In these transactions, 0 shares were bought while 88,167 shares were sold. The number of buy transactions has increased to 17 while that of sell transactions has risen to 48 over the past year. The total number of shares bought during that period was 48,200 while 159,479 shares were sold.
