ArcBest (NASDAQ:ARCB) Stock Price Expected to Rise, Truist Financial Analyst Says

ArcBest (NASDAQ:ARCB) had its price target upped by equities researchers at Truist Financial from $85.00 to $95.00 in a report issued on Thursday, MarketBeat Ratings reports. The firm currently has a “buy” rating on the transportation company’s stock. Truist Financial’s price target would suggest a potential upside of 4.91% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. Citigroup upped their target price on ArcBest from $83.00 to $104.00 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. UBS Group lowered their price target on ArcBest from $80.00 to $77.00 and set a “neutral” rating for the company in a report on Thursday, November 6th. Wells Fargo & Company dropped their price objective on ArcBest from $80.00 to $74.00 and set an “equal weight” rating for the company in a research report on Thursday, November 6th. Cowen reiterated a “hold” rating on shares of ArcBest in a research report on Friday, January 9th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of ArcBest in a research note on Wednesday, October 8th. Six investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $92.00.

ArcBest Stock Performance

Shares of NASDAQ ARCB opened at $90.55 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of 21.51, a P/E/G ratio of 10.92 and a beta of 1.51. The stock’s fifty day moving average price is $73.84 and its two-hundred day moving average price is $74.22. ArcBest has a one year low of $55.19 and a one year high of $103.14.

ArcBest (NASDAQ:ARCB) last announced its earnings results on Wednesday, November 5th. The transportation company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.37 by $0.09. ArcBest had a net margin of 2.41% and a return on equity of 8.24%. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period last year, the firm earned $1.64 earnings per share. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, equities analysts forecast that ArcBest will post 7 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ARCB. Partners Group Holding AG lifted its position in ArcBest by 23.2% in the 2nd quarter. Partners Group Holding AG now owns 147,476 shares of the transportation company’s stock valued at $11,357,000 after acquiring an additional 27,797 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of ArcBest in the second quarter worth approximately $1,759,000. Envestnet Portfolio Solutions Inc. bought a new position in shares of ArcBest in the second quarter valued at approximately $355,000. Public Employees Retirement System of Ohio lifted its holdings in shares of ArcBest by 23.4% in the second quarter. Public Employees Retirement System of Ohio now owns 41,971 shares of the transportation company’s stock valued at $3,232,000 after purchasing an additional 7,955 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its position in shares of ArcBest by 433.3% during the second quarter. Farther Finance Advisors LLC now owns 384 shares of the transportation company’s stock valued at $30,000 after buying an additional 312 shares during the last quarter. 99.27% of the stock is owned by institutional investors and hedge funds.

About ArcBest

ArcBest Corporation (NASDAQ: ARCB) is a transportation and logistics company that offers comprehensive freight and supply chain solutions across North America. Founded in 1923 as Arkansas Best Freight System, the company has evolved into a diversified service provider with both asset-based and asset-light operations. Its core businesses include less-than-truckload (LTL) shipping through ABF Freight, expedited full-truckload services via Panther Premium Logistics, and a range of logistics and supply chain management services under its ArcBest Integrated Logistics division.

The company’s asset-based operations also encompass FleetNet America, a provider of emergency roadside assistance and maintenance services for heavy-duty vehicles.