ArcBest Corporation (NASDAQ:ARCB) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• ArcBest has a consensus analyst rating of “Moderate Buy” from 15 brokerages, with seven buy ratings and two strong buy ratings. The average 12-month price target is about $155.08.
• Recent analyst actions have been mostly positive, including price target increases from UBS, Truist Financial, Morgan Stanley, and Citizens JMP. Several firms also maintained or upgraded their outlook on the stock.
• The company reported better-than-expected quarterly earnings of $0.32 per share versus estimates of $0.27, while revenue came in roughly in line with expectations. ArcBest also posted 3.3% year-over-year revenue growth.

ArcBest Corporation (NASDAQ:ARCB - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the fifteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $155.0769.

ARCB has been the subject of a number of recent research reports. UBS Group raised their price target on shares of ArcBest from $122.00 to $145.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 7th. Wall Street Zen upgraded shares of ArcBest from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. Truist Financial raised their target price on shares of ArcBest from $145.00 to $165.00 and gave the stock a "buy" rating in a report on Wednesday, July 15th. Morgan Stanley boosted their target price on shares of ArcBest from $150.00 to $180.00 and gave the company an "overweight" rating in a research report on Monday, July 6th. Finally, Citizens Jmp began coverage on shares of ArcBest in a report on Wednesday, July 15th. They issued a "market outperform" rating and a $180.00 price target on the stock.

ArcBest Stock Performance

Shares of ARCB opened at $156.99 on Friday. The stock has a 50-day moving average of $146.06 and a two-hundred day moving average of $117.23. ArcBest has a one year low of $59.43 and a one year high of $176.69. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a market cap of $3.49 billion, a P/E ratio of 64.61, a P/E/G ratio of 0.56 and a beta of 1.57.

ArcBest (NASDAQ:ARCB - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The transportation company reported $0.32 earnings per share for the quarter, beating analysts' consensus estimates of $0.27 by $0.05. ArcBest had a return on equity of 6.15% and a net margin of 1.38%.The business had revenue of $998.79 million for the quarter, compared to analyst estimates of $999.07 million. During the same period in the prior year, the company earned $0.51 earnings per share. The company's revenue was up 3.3% on a year-over-year basis. As a group, research analysts predict that ArcBest will post 6.62 EPS for the current year.

Hedge Funds Weigh In On ArcBest

Several institutional investors and hedge funds have recently modified their holdings of ARCB. Federated Hermes Inc. grew its holdings in ArcBest by 126.6% during the fourth quarter. Federated Hermes Inc. now owns 1,015 shares of the transportation company's stock worth $75,000 after acquiring an additional 567 shares during the period. Hantz Financial Services Inc. lifted its holdings in ArcBest by 507.6% in the fourth quarter. Hantz Financial Services Inc. now owns 1,118 shares of the transportation company's stock valued at $83,000 after acquiring an additional 934 shares during the period. Canada Pension Plan Investment Board purchased a new stake in ArcBest in the 2nd quarter worth approximately $85,000. Assetmark Inc. boosted its position in ArcBest by 5,940.0% in the 4th quarter. Assetmark Inc. now owns 1,208 shares of the transportation company's stock worth $90,000 after purchasing an additional 1,188 shares in the last quarter. Finally, KBC Group NV grew its stake in shares of 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 during the period. Institutional investors and hedge funds own 99.27% of the company's stock.

ArcBest Company Profile

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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