BlackRock Fund Advisors has recently announced that it has increased stake in ArcBest Corporation (NASDAQ:ARCB) by 1.15%. After grabbing 3.63 million shares, the institutional investor is now in possession of 41271.0 shares of the Industrials Company. The new investment brought the stake of investor firm to 14.88% having worth around $254.43 million. Moreover, The Vanguard Group, Inc. increased its share by 3871.0 to have a control over 2.62 million shares. And LSV Asset Management raised its holdings to 37951.0 shares by acquiring 0.71 million shares or 2.92% of the stake.
ArcBest Corporation (ARCB) concluded trading on 01/18/23 at a closing price of $77.23, with 0.2 million shares of worth about $15.41 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -3.16% during that period and on Wednesday the price saw a gain of about 1.23%. Currently the company’s common shares owned by public are about 24.61M shares, out of which, 24.03M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 11 analysts are covering the ARCB stock and their offered price forecasts bring an average price target of $105.67. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $138.00 and could fall to a lowest price of $83.00. The stock’s current price level is 27.37% above of average price target set by the analysts, while a rise to estimated low would result in gain of 6.95% for the stock. However, touching the estimated high of $138.00 would mean a gain of 44.04% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 54 times over the past 12 months. They bought 60,071 shares in 19 of the transactions. In 35 selling transactions, insiders dumped 162,576 shares.
iShares Core S&P Small Cap ETF, Vanguard Total Stock Market Index, and DFA US Small Cap Value Portfolio are the top 3 mutual funds which are holding stakes in ArcBest Corporation iShares Core S&P Small Cap ETF is currently holding 1.81 million shares of worth totaling $126.52 million. The company recently came selling 1272.0 shares which brought its stake up to 7.40% of the company’s outstanding shares. Vanguard Total Stock Market Index bought 1278.0 shares, after which its hold over company’s outstanding shares expand to 2.86%, leaving 0.7 million shares with the mutual fund that have a worth of about $48.93 million. DFA US Small Cap Value Portfolio, after selling 0.64 million shares, have now control over 2.61% of the stake in the company. It holds 2048.0 shares of worth $44.7 million.
ArcBest Corporation (NASDAQ: ARCB) started trading at $76.53, above $0.24 from concluding price of the previous day. However, the stock later moved at a day high price of 79.27, or with a gain of 1.23%. Stock saw a price change of -1.63% in past 5 days and over the past one month there was a price change of 1.31%. Year-to-date (YTD), ARCB shares are showing a performance of 10.27% which decreased to -14.91% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $65.15 but also hit the highest price of $98.95 during that period. The average intraday trading volume for ArcBest Corporation shares is 218.90K. The stock is currently trading 5.30% above its 20-day simple moving average (SMA20), while that difference is up 0.32% for SMA50 and it goes to 0.28% higher than SMA200.
BlackRock Fund Advisors acquired 3.63 million shares of ArcBest Corporation having value of about $254.43 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 41271.0 shares in the company valued at close to $3187359.33, or have control over 1.15% stake in the company. ArcBest Corporation (NASDAQ: ARCB) currently have 24.61M outstanding shares and institutions hold larger chunk of about 91.50% of that. Holding of mutual funds in the company is about 57.67% while other institutional holders and individual stake holders have control over 9.55% and 31.96% of the stake respectively.
The stock has a current market capitalization of $1.90B and its 3Y-monthly beta is at 1.59. PE ratio of stock for trailing 12 months is 6.10, while it has posted earnings per share of $12.66 in the same period. Its PEG reads 0.46 and has Quick Ratio of 1.30 while making debt-to-equity ratio of 0.22. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ARCB, volatility over the week remained 2.63% while standing at 3.25% over the month.
Analysts are in expectations that ArcBest Corporation (ARCB) stock would likely to be making an EPS of $3.72 in the current quarter, while forecast for next quarter EPS is $3.06 and it is $11.32 for next year. For the current quarter EPS, analysts have given the company a lowest target $3.6 which is $3.92 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $2.59 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 196.40% while it is estimated to decrease by -19.51% in next year. EPS is likely to shrink at an annualized rate of 13.36% for next 5-years, compared to annual growth of 62.40% made by the stock over the past 5-years.
Analysts at 11 brokerage firms have issued recommendations for the ArcBest Corporation (ARCB)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.10. Out of those 11 Wall Street analysts, 7 recommended a “Buy” rating, while 4 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Credit Suisse on June 28, 2022 offering an Outperform rating for the stock and assigned a target price of $102 to it. Coverage by BofA Securities stated ArcBest Corporation (ARCB) stock as a Neutral in their note to investors on April 08, 2022, suggesting a price target of $76 for the stock. On June 22, 2021, Stifel Resumed their recommendations, while on June 08, 2021, Vertical Research Upgrade their ratings for the stock with a price target of $85. Stock get a Neutral rating from Goldman on June 07, 2021.