ArcBest (NASDAQ:ARCB) Now Covered by Analysts at Citizens Jmp

Key Points

• Citizens JMP initiated coverage on ArcBest with a “market outperform” rating and a $180 price target, implying about 18.75% upside from the stock’s current price.
• Other analysts have also been largely constructive on the name, with recent target increases from firms like JPMorgan and Bank of America; the consensus rating is now “Moderate Buy” with an average target of $150.31.
• ArcBest most recently beat quarterly EPS expectations at $0.32 versus $0.27, while revenue came in roughly in line at $998.79 million. The stock opened at $151.58 and has traded between $59.43 and $176.69 over the past 12 months.

Equities researchers at Citizens Jmp began coverage on shares of ArcBest (NASDAQ:ARCB - Get Free Report) in a report issued on Wednesday,Benzinga reports. The firm set a "market outperform" rating and a $180.00 price target on the transportation company's stock. Citizens Jmp's price objective points to a potential upside of 18.75% from the company's current price.

Several other equities research analysts also recently commented on the company. JPMorgan Chase & Co. lifted their price objective on ArcBest from $117.00 to $147.00 and gave the stock a "neutral" rating in a report on Monday, June 8th. Zacks Research upgraded shares of ArcBest from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 30th. Bank of America upped their target price on shares of ArcBest from $138.00 to $160.00 and gave the company a "neutral" rating in a research note on Friday, June 5th. Stephens raised shares of ArcBest to a "strong-buy" rating in a report on Wednesday, July 8th. Finally, Stifel Nicolaus boosted their price objective on shares of ArcBest from $116.00 to $134.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $150.31.

ArcBest Price Performance

Shares of ARCB opened at $151.58 on Wednesday. ArcBest has a twelve month low of $59.43 and a twelve month high of $176.69. The company has a market capitalization of $3.37 billion, a P/E ratio of 62.38, a price-to-earnings-growth ratio of 0.65 and a beta of 1.57. The firm has a 50 day moving average of $140.58 and a 200 day moving average of $113.23. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.10.

ArcBest (NASDAQ:ARCB - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The transportation company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts' expectations of $999.07 million. During the same period in the prior year, the firm posted $0.51 EPS. The firm's quarterly revenue was up 3.3% on a year-over-year basis. As a group, equities research analysts anticipate that ArcBest will post 6.11 earnings per share for the current fiscal year.

Institutional Trading of ArcBest

Large investors have recently added to or reduced their stakes in the business. Glenmede Trust Co. NA boosted its stake in shares of ArcBest by 1.5% during the first quarter. Glenmede Trust Co. NA now owns 6,162 shares of the transportation company's stock valued at $606,000 after purchasing an additional 93 shares in the last quarter. Federation des caisses Desjardins du Quebec raised its stake in ArcBest by 0.4% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 22,995 shares of the transportation company's stock worth $1,706,000 after buying an additional 100 shares in the last quarter. Seelaus Asset Management LLC raised its stake in ArcBest by 3.5% in the fourth quarter. Seelaus Asset Management LLC now owns 3,710 shares of the transportation company's stock worth $275,000 after buying an additional 125 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in ArcBest by 8.2% during the first quarter. PNC Financial Services Group Inc. now owns 1,775 shares of the transportation company's stock worth $175,000 after buying an additional 134 shares during the period. Finally, ProShare Advisors LLC lifted its holdings in ArcBest by 3.1% during the fourth quarter. ProShare Advisors LLC now owns 4,431 shares of the transportation company's stock worth $329,000 after buying an additional 135 shares during the period. 99.27% of the stock is currently owned by institutional investors.

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.

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