ArcBest (NASDAQ:ARCB) Stock Gets Price Target Bump from Citigroup

ArcBest (NASDAQ:ARCB) had its target price increased by equities researchers at Citigroup from $170.00 to $175.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the transportation company’s stock. Citigroup‘s price target points to a potential upside of 36.81% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. Zacks Research cut shares of ArcBest from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 5th. Wall Street Zen raised ArcBest from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 31st. Weiss Ratings restated a “hold (c-)” rating on shares of ArcBest in a research note on Tuesday, August 25th. UBS Group raised their price target on ArcBest from $145.00 to $154.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $172.00 price objective on shares of ArcBest in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $153.54.

ArcBest Trading Down 4.3%

Shares of NASDAQ ARCB traded down $5.68 during mid-day trading on Thursday, reaching $127.91. 283,449 shares of the company’s stock were exchanged, compared to its average volume of 211,655. The company’s 50-day moving average is $131.19 and its 200-day moving average is $125.35. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market capitalization of $2.86 billion, a price-to-earnings ratio of 100.72, a PEG ratio of 0.40 and a beta of 1.71. ArcBest has a 52-week low of $59.43 and a 52-week high of $176.69.

ArcBest (NASDAQ:ARCB) last posted its earnings results on Wednesday, November 4th. The transportation company reported $2.62 EPS for the quarter, beating analysts’ consensus estimates of $2.50 by $0.12. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.20 billion. ArcBest had a net margin of 0.39% and a return on equity of 7.92%. ArcBest’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.46 earnings per share. Analysts expect that ArcBest will post 7.31 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, VP Jason Parks sold 855 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $135.09, for a total transaction of $115,501.95. Following the sale, the vice president directly owned 3,794 shares of the company’s stock, valued at $512,531.46. This represents a 18.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.98% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ArcBest

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in ArcBest in the second quarter valued at $503,476,000. Hsbc Holdings PLC purchased a new stake in ArcBest during the 2nd quarter worth about $743,000. WINTON GROUP Ltd purchased a new stake in ArcBest during the 2nd quarter worth about $1,679,000. Legal & General Group Plc acquired a new stake in ArcBest in the 2nd quarter valued at about $7,616,000. Finally, Quantinno Capital Management LP raised its position in ArcBest by 101.9% in the 1st quarter. Quantinno Capital Management LP now owns 20,827 shares of the transportation company’s stock valued at $2,049,000 after purchasing an additional 10,511 shares in the last quarter. Hedge funds and other institutional investors own 99.27% of the company’s stock.

ArcBest News Roundup

Here are the key news stories impacting ArcBest this week:

• Positive Sentiment: Citigroup raised its price target to $175 from $170 and maintained a buy rating, implying substantial upside from the cited share price. ArcBest Given New Price Target at Citigroup
• Positive Sentiment: JPMorgan lifted its target to $164 from $158, while keeping a neutral rating. JPMorgan recommendations
• Positive Sentiment: ArcBest beat third-quarter earnings and revenue expectations: EPS was $2.62 versus $2.50 expected, and revenue rose 15.5% year over year to $1.21 billion. Reports cited higher shipment weights, tonnage gains, and operational improvements following a July reorganization as contributors. Higher shipment weights help ArcBest beat Q3 expectations
• Neutral Sentiment: Management described emerging “green shoots” in demand, but shipment volumes remain soft, leaving the durability and timing of a recovery uncertain. ArcBest’s Runser says demand green shoots are emerging
• Negative Sentiment: UBS cut its price target to $146 from $154 and retained a neutral rating, a less optimistic signal than the target increases from other analysts. UBS lowers ArcBest price target
• Negative Sentiment: ArcBest’s outlook included a sequential increase of 50–150 basis points in ABF’s fourth-quarter operating ratio and projected $7–$10 million in Asset-Light operating income, which could weigh on near-term margin expectations. ArcBest signals fourth-quarter operating outlook
• Negative Sentiment: One recent analysis argued the shares look overvalued after a substantial run-up, potentially limiting investor appetite despite the earnings beat. ArcBest stock looks overvalued after its run

ArcBest Company Profile

ArcBest Corporation (NASDAQ: ARCB) is a multibillion-dollar logistics company headquartered in Fort Smith, Arkansas. The company provides freight transportation and supply chain solutions through a combination of asset-based and asset-light operations, serving businesses across North America and supporting select international shipping needs.

Its asset-based business is led by ABF Freight, a less-than-truckload carrier that transports palletized and industrial freight. ArcBest also offers expedited transportation, truckload and brokerage services, intermodal transportation, managed transportation, warehouse and distribution support, and supply chain consulting.