ArcBest (NASDAQ:ARCB) Price Target Raised to $81.00

by · The Cerbat Gem

ArcBest (NASDAQ:ARCB – Get Free Report) had its price objective raised by analysts at JPMorgan Chase & Co. from $76.00 to $81.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s target price points to a potential downside of 10.22% from the company’s previous close.

A number of other equities analysts have also recently issued reports on ARCB. Citigroup reiterated a “buy” rating on shares of ArcBest in a research report on Monday. Wells Fargo & Company set a $85.00 price target on ArcBest in a research note on Sunday. UBS Group cut their price objective on ArcBest from $80.00 to $77.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $100.00 target price on shares of ArcBest in a report on Saturday. Finally, Jefferies Financial Group lifted their price target on ArcBest from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Monday. Six research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, ArcBest has an average rating of “Hold” and a consensus price target of $95.33.

View Our Latest Stock Analysis on ArcBest

ArcBest Trading Up 5.8%

Shares of NASDAQ:ARCB opened at $90.22 on Monday. The business’s 50 day simple moving average is $78.85 and its 200 day simple moving average is $74.58. ArcBest has a 1 year low of $55.19 and a 1 year high of $103.14. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.95 and a quick ratio of 0.98. The company has a market capitalization of $2.03 billion, a P/E ratio of 34.57, a P/E/G ratio of 11.38 and a beta of 1.51.

ArcBest (NASDAQ:ARCB – Get Free Report) last released its earnings results on Friday, January 30th. The transportation company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.09). ArcBest had a net margin of 1.50% and a return on equity of 6.51%. The firm had revenue of $972.69 million during the quarter, compared to the consensus estimate of $963.74 million. During the same period in the prior year, the business earned $1.33 earnings per share. ArcBest’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, research analysts anticipate that ArcBest will post 7 EPS for the current fiscal year.

Hedge Funds Weigh In On ArcBest

A number of large investors have recently modified their holdings of ARCB. AMG National Trust Bank grew its holdings in shares of ArcBest by 102.1% during the fourth quarter. AMG National Trust Bank now owns 24,349 shares of the transportation company’s stock valued at $1,806,000 after buying an additional 12,300 shares during the last quarter. UBS Group AG lifted its position in ArcBest by 319.3% in the 4th quarter. UBS Group AG now owns 208,007 shares of the transportation company’s stock valued at $15,432,000 after acquiring an additional 158,403 shares in the last quarter. Vanguard Group Inc. boosted its stake in ArcBest by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 2,451,162 shares of the transportation company’s stock valued at $181,852,000 after purchasing an additional 6,808 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in ArcBest by 4.0% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 38,343 shares of the transportation company’s stock worth $2,849,000 after purchasing an additional 1,459 shares in the last quarter. Finally, KBC Group NV increased its holdings in ArcBest by 69.4% during the 4th quarter. KBC Group NV now owns 1,299 shares of the transportation company’s stock worth $96,000 after purchasing an additional 532 shares in the last quarter. 99.27% of the stock is currently owned by institutional investors.

ArcBest Company Profile

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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.

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