Fintel reports that on August 21, 2023, Wolfe Research upgraded their outlook for ArcBest (NASDAQ:ARCB) from Peer Perform to Outperform .
Analyst Price Forecast Suggests 27.84% Upside
As of August 2, 2023, the average one-year price target for ArcBest is 138.52. The forecasts range from a low of 118.17 to a high of $157.50. The average price target represents an increase of 27.84% from its latest reported closing price of 108.35.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for ArcBest is 5,273MM, an increase of 6.66%. The projected annual non-GAAP EPS is 11.22.
ArcBest Declares $0.12 Dividend
On July 26, 2023 the company declared a regular quarterly dividend of $0.12 per share ($0.48 annualized). Shareholders of record as of August 9, 2023 will receive the payment on August 23, 2023. Previously, the company paid $0.12 per share.
At the current share price of $108.35 / share, the stock's dividend yield is 0.44%.
Looking back five years and taking a sample every week, the average dividend yield has been 0.78%, the lowest has been 0.26%, and the highest has been 1.91%. The standard deviation of yields is 0.35 (n=236).
The current dividend yield is 0.95 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.05. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.50%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 657 funds or institutions reporting positions in ArcBest. This is an increase of 5 owner(s) or 0.77% in the last quarter. Average portfolio weight of all funds dedicated to ARCB is 0.21%, an increase of 12.78%. Total shares owned by institutions increased in the last three months by 7.20% to 26,864K shares. 
The put/call ratio of ARCB is 0.44, indicating a bullish outlook.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 1,763K shares representing 7.34% ownership of the company. In it's prior filing, the firm reported owning 1,809K shares, representing a decrease of 2.63%. The firm increased its portfolio allocation in ARCB by 24.93% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 715K shares representing 2.98% ownership of the company. In it's prior filing, the firm reported owning 702K shares, representing an increase of 1.79%. The firm increased its portfolio allocation in ARCB by 24.06% over the last quarter.
Lsv Asset Management holds 683K shares representing 2.84% ownership of the company. In it's prior filing, the firm reported owning 689K shares, representing a decrease of 0.83%. The firm increased its portfolio allocation in ARCB by 4.22% over the last quarter.
DFSVX - U.s. Small Cap Value Portfolio - Institutional Class holds 613K shares representing 2.55% ownership of the company. In it's prior filing, the firm reported owning 638K shares, representing a decrease of 4.06%. The firm increased its portfolio allocation in ARCB by 21.22% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 607K shares representing 2.53% ownership of the company. In it's prior filing, the firm reported owning 598K shares, representing an increase of 1.56%. The firm increased its portfolio allocation in ARCB by 28.65% over the last quarter.
ArcBest Background Information
(This description is provided by the company.)
ArcBest® is a leading logistics company with creative problem solvers who deliver innovative solutions for its customers' supply chain needs. The company will find a way to deliver knowledge, expertise and a can-do attitude with every shipment and supply chain solution, household move or vehicle repair.
Additional reading:
- Press release of ArcBest dated July 28, 2023
- Supplemental information dated July 28, 2023
- Earnings conference call presentation dated July 28, 2023
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This story originally appeared on Fintel.
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