JPMorgan Chase & Co. Issues Positive Forecast for ArcBest (NASDAQ:ARCB) Stock Price

Key Points

• JPMorgan raised its ArcBest price target to $164 from $158 but kept a Neutral rating, implying 22.76% upside from the prior close.
• ArcBest beat quarterly estimates, reporting $2.62 in EPS versus $2.50 expected and $1.21 billion in revenue, up 15.5% year over year.
• The outlook is mixed: management flagged a potential sequential deterioration in ABF’s fourth-quarter operating ratio, even as the CEO cited emerging signs of stronger freight demand.

ArcBest (NASDAQ:ARCB - Get Free Report) had its target price hoisted by equities researchers at JPMorgan Chase & Co. from $158.00 to $164.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a "neutral" rating on the transportation company's stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 22.76% from the company's previous close.

A number of other research firms also recently issued reports on ARCB. The Goldman Sachs Group reissued a "buy" rating and set a $172.00 price target on shares of ArcBest in a research report on Wednesday, July 29th. Stephens upgraded ArcBest to a "strong-buy" rating in a research note on Wednesday, July 8th. Weiss Ratings restated a "hold (c-)" rating on shares of ArcBest in a report on Tuesday, August 25th. Jefferies Financial Group reaffirmed a "buy" rating on shares of ArcBest in a research note on Wednesday. Finally, Truist Financial dropped their target price on shares of ArcBest from $165.00 to $160.00 and set a "buy" rating on the stock in a report on Wednesday, October 7th. One equities research 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. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $154.15.

ArcBest Trading Down 4.1%

Shares of NASDAQ ARCB traded down $5.70 during trading hours on Thursday, reaching $133.59. The stock had a trading volume of 506,896 shares, compared to its average volume of 336,778. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of 193.61, a P/E/G ratio of 0.41 and a beta of 1.71. The business's fifty day moving average price is $131.52 and its two-hundred day moving average price is $124.93. ArcBest has a 52-week low of $59.43 and a 52-week high of $176.69.

ArcBest (NASDAQ:ARCB - Get Free Report) last announced its quarterly earnings data on Wednesday, November 4th. The transportation company reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 7.92% and a net margin of 0.39%. ArcBest's revenue was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.46 earnings per share. Analysts expect that ArcBest will post 7.06 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, VP Jason T. Parks sold 855 shares of the company's stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $135.09, for a total transaction of $115,501.95. Following the completion of the sale, the vice president directly owned 3,794 shares in the company, valued at $512,531.46. This represents a 18.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Judy R. Mcreynolds sold 2,857 shares of the firm's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $138.98, for a total value of $397,065.86. Following the sale, the director directly owned 50,048 shares in the company, valued at approximately $6,955,671.04. The trade was a 5.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.98% of the company's stock.

Hedge Funds Weigh In On ArcBest

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Glenmede Trust Co. NA boosted its stake in ArcBest by 1.5% in the 1st quarter. Glenmede Trust Co. NA now owns 6,162 shares of the transportation company's stock worth $606,000 after purchasing an additional 93 shares in the last quarter. Crossmark Global Holdings Inc. grew its position in ArcBest by 4.0% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 2,869 shares of the transportation company's stock worth $366,000 after purchasing an additional 110 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in ArcBest by 8.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,775 shares of the transportation company's stock valued at $175,000 after purchasing an additional 134 shares in the last quarter. GAMMA Investing LLC increased its stake in ArcBest by 6.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,503 shares of the transportation company's stock valued at $319,000 after purchasing an additional 149 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in ArcBest by 51.3% during the 3rd quarter. Parallel Advisors LLC now owns 466 shares of the transportation company's stock valued at $59,000 after purchasing an additional 158 shares in the last quarter. Hedge funds and other institutional investors own 99.27% of the company's stock.

Trending Headlines about ArcBest

Here are the key news stories impacting ArcBest this week:

• Positive Sentiment: ArcBest earned $2.62 per share, topping the $2.50 consensus, while revenue of $1.21 billion exceeded estimates and grew 15.5% year over year. Higher shipment weights helped support the beat, and executives credited the July reorganization with improving results. Higher shipment weights help ArcBest beat Q3 expectations
• Positive Sentiment: CEO Seth Runser said “green shoots” in demand are emerging, suggesting freight conditions could improve. ArcBest’s Runser says demand green shoots are emerging
• Positive Sentiment: Citigroup lifted its price target to $175 from $170 and maintained a Buy rating, indicating confidence in further upside. Citigroup price target and rating
• Negative Sentiment: Management signaled that ABF’s fourth-quarter operating ratio could worsen by 50–150 basis points sequentially, while forecasting just $7 million–$10 million in Asset-Light operating income. This cautious outlook may temper the positive quarterly results. ArcBest fourth-quarter outlook
• Negative Sentiment: Some commentary flags valuation risk after a substantial prior rally, which could make the stock vulnerable if growth or margins disappoint. ArcBest stock looks overvalued after its 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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