A share of ArcBest Corporation (NASDAQ:ARCB) closed at $117.39 per share on Tuesday, up from $116.32 day before. While ArcBest Corporation has overperformed by 0.92%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, ARCB rose by 32.49%, with highs and lows ranging from $122.86 to $68.00, whereas the simple moving average jumped by 33.89% in the last 200 days.
On June 12, 2023, Jefferies started tracking ArcBest Corporation (NASDAQ: ARCB) recommending Buy.
Analysis of ArcBest Corporation (ARCB)
It’s important to note that ARCB shareholders are currently getting $0.48 per share in dividends, so investors will receive a return regardless of how the company performs. Further, the quarter-over-quarter decrease in sales is -12.80%, showing a negative trend in the upcoming months.
ArcBest Corporation’s future performance can be predicted by a variety of well-rounded types of analysis and research, with equity being one of the most crucial ones. The goal here is to ensure that your current return on equity of 26.20% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.30, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can be an extremely valuable indicator of volatility, and ARCB is registering an average volume of 343.68K. On a monthly basis, the volatility of the stock is set at 4.33%, whereas on a weekly basis, it is put at 5.55%, with a gain of 4.96% over the past seven days. Furthermore, long-term investors anticipate a median target price of $124.50, showing growth from the present price of $117.39, which can serve as yet another indication of whether ARCB is worth investing in or should be passed over.
How Do You Analyze ArcBest Corporation Shares?
A giant in the Trucking market, ArcBest Corporation (ARCB) is based in the USA. When comparing ArcBest Corporation shares with other companies under Industrials, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 12.05, there is a growth in quarterly earnings of -71.30%.
Besides checking the fundamentals, you should also know how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 1.80%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 91.50% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in ARCB shares?
The recent increase in stakes in ARCB appears to be a result of several institutional investors and hedge funds increasing their positions. BlackRock Fund Advisors’s position in ARCB has decreased by -2.94% in the first quarter. The company now owns 3,681,897 shares of the stock, with a value of $363.77 million, following the sale of -111,403 additional shares during the last quarter. The Vanguard Group, Inc. made another increased to its shares in ARCB during the first quarter, upping its stake by 0.14%. During the last quarter, the company dropped down 3,709 additional shares for a total stake of worth $265.96 million, bringing number of shares owned by the company to 2,691,887.
During the first quarter, Dimensional Fund Advisors LP subtracted a -18,208 position in ARCB. SSgA Funds Management, Inc. sold an additional 81056.0 shares in the last quarter, decreasing its holdings by -7.55%, now holding 0.99 million shares worth $98.12 million. At the end of the first quarter, LSV Asset Management decreased its ARCB holdings by -1.75% and now holds 0.69 million ARCB shares valued at $68.07 million with the lessened 12300.0 shares during the period. ARCB shares are owned by institutional investors to the tune of 91.50% at present.