ArcBest (NASDAQ:ARCB – Get Free Report) had its price target raised by Citigroup from $170.00 to $175.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the transportation company’s stock. Citigroup‘s price objective points to a potential upside of 31.09% from the company’s previous close.
Several other equities analysts have also commented on ARCB. Citizens Jmp began coverage on shares of ArcBest in a research note on Wednesday, July 15th. They issued a “market outperform” rating and a $180.00 price target on the stock. Stephens upgraded shares of ArcBest to a “strong-buy” rating in a report on Wednesday, July 8th. TD Cowen lowered their target price on shares of ArcBest from $155.00 to $146.00 and set a “hold” rating for the company in a report on Wednesday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of ArcBest in a research report on Tuesday, August 25th. Finally, UBS Group lifted their price target on shares of ArcBest from $145.00 to $154.00 and gave the stock a “neutral” rating in a research note on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $152.85.
Read Our Latest Analysis on ARCB
ArcBest Stock Down 4.2%
Shares of ARCB traded down $5.79 during mid-day trading on Thursday, reaching $133.50. The company’s stock had a trading volume of 506,896 shares, compared to its average volume of 336,778. ArcBest has a 12-month low of $59.43 and a 12-month high of $176.69. The stock has a market cap of $2.98 billion, a PE ratio of 193.48, a price-to-earnings-growth ratio of 0.41 and a beta of 1.71. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.97 and a quick ratio of 0.97. The company’s 50 day moving average is $131.52 and its 200 day moving average is $124.93.
ArcBest (NASDAQ:ARCB – Get Free Report) last issued its earnings results on Wednesday, November 4th. The transportation company reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.12. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.20 billion. ArcBest had a return on equity of 7.92% and a net margin of 0.39%. The business’s quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter last year, the company earned $1.46 EPS. Equities analysts anticipate that ArcBest will post 7.06 EPS for the current fiscal year.
Insider Activity at ArcBest
In other news, VP Jason T. Parks sold 855 shares of the firm’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 transaction, the vice president directly owned 3,794 shares in the company, valued at approximately $512,531.46. This trade represents a 18.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Judy R. Mcreynolds sold 2,857 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $138.98, for a total transaction of $397,065.86. Following the transaction, the director owned 50,048 shares in the company, valued at approximately $6,955,671.04. This trade represents a 5.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.98% of the company’s stock.
Institutional Trading of ArcBest
A number of large investors have recently bought and sold shares of ARCB. Parallel Advisors LLC boosted its position in shares of ArcBest by 51.3% during the 3rd quarter. Parallel Advisors LLC now owns 466 shares of the transportation company’s stock worth $59,000 after purchasing an additional 158 shares in the last quarter. C M Bidwell & Associates Ltd. purchased a new position in shares of ArcBest in the 2nd quarter valued at about $74,000. Nykredit A S purchased a new position in shares of ArcBest in the 2nd quarter valued at about $75,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of ArcBest in the second quarter valued at about $92,000. Finally, Pinnacle Holdings LLC acquired a new stake in shares of ArcBest in the second quarter valued at about $246,000. Institutional investors and hedge funds own 99.27% of the company’s stock.
ArcBest News Summary
Here are the key news stories impacting ArcBest this week:
- Positive Sentiment: Third-quarter adjusted earnings were $2.62 per share, above the roughly $2.50 analyst consensus, while revenue of $1.21 billion also topped estimates and rose 15.5% year over year. Higher shipment weights helped ArcBest beat expectations. Higher shipment weights help ArcBest beat Q3 expectations
- Positive Sentiment: Executives said the July reorganization contributed to stronger results, suggesting operational changes are supporting performance. ArcBest executives say July reorganization shows in solid third quarter results
- Neutral Sentiment: Coverage highlighted tonnage gains, though another report characterized shipment volumes as soft. The combination suggests heavier shipments helped results, but underlying freight demand remains a factor to watch. ArcBest reports Q3 tonnage gains
- Negative Sentiment: ArcBest signaled that ABF Freight’s operating ratio could worsen by 50 to 150 basis points sequentially in the fourth quarter, indicating near-term margin pressure. The company also projected $7 million to $10 million in Asset-Light operating income. ArcBest fourth-quarter outlook
- Negative Sentiment: A valuation-focused article argued ARCB looked overvalued after a 115% run, potentially prompting profit-taking despite the quarterly beat. ArcBest stock looks overvalued after its 115% run
About ArcBest
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.
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