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

Key Points

• Truist Financial raised its price target on ArcBest from $145 to $165 and kept a buy rating, implying about 8.85% upside from the current share price.
• ArcBest has seen a wave of positive analyst revisions, including upgrades and higher targets from several firms; the stock now carries an average Moderate Buy rating with a consensus target of $151.85.
• The company recently posted quarterly EPS of $0.32, beating estimates, while revenue rose 3.3% year over year. Shares were trading around $151.58, near their 52-week high of $176.69.

ArcBest (NASDAQ:ARCB - Get Free Report) had its price objective hoisted by analysts at Truist Financial from $145.00 to $165.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the transportation company's stock. Truist Financial's price objective indicates a potential upside of 8.85% from the company's current price.

ARCB has been the subject of several other research reports. Zacks Research raised ArcBest from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 30th. Bank of America increased their price target on shares of ArcBest from $138.00 to $160.00 and gave the company a "neutral" rating in a research report on Friday, June 5th. UBS Group lifted their price objective on ArcBest from $122.00 to $145.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 7th. Morgan Stanley lifted their target price on shares of ArcBest from $150.00 to $180.00 and gave the company an "overweight" rating in a research note on Monday, July 6th. Finally, JPMorgan Chase & Co. lifted their price target on ArcBest from $117.00 to $147.00 and gave the company a "neutral" rating in a research report on Monday, June 8th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $151.85.

ArcBest Stock Up 1.4%

Shares of NASDAQ:ARCB opened at $151.58 on Wednesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.93. ArcBest has a one year low of $59.43 and a one year high of $176.69. The company has a market cap of $3.37 billion, a price-to-earnings ratio of 62.38, a PEG ratio of 0.65 and a beta of 1.57. The firm has a fifty day moving average price of $140.58 and a two-hundred day moving average price of $113.23.

ArcBest (NASDAQ:ARCB - Get Free Report) last posted 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. The company had revenue of $998.79 million during the quarter, compared to analyst estimates of $999.07 million. ArcBest had a return on equity of 6.15% and a net margin of 1.38%.The firm's quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the company earned $0.51 earnings per share. Analysts anticipate that ArcBest will post 6.11 EPS for the current fiscal year.

Institutional Trading of ArcBest

A number of large investors have recently made changes to their positions in ARCB. Federated Hermes Inc. grew its position in ArcBest by 126.6% in the 4th quarter. Federated Hermes Inc. now owns 1,015 shares of the transportation company's stock worth $75,000 after purchasing an additional 567 shares during the period. Hantz Financial Services Inc. raised its holdings in ArcBest by 507.6% during 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 bought a new stake in ArcBest during the 2nd quarter valued at approximately $85,000. Assetmark Inc. raised its position in shares of ArcBest by 5,940.0% during the fourth quarter. Assetmark Inc. now owns 1,208 shares of the transportation company's stock valued at $90,000 after buying an additional 1,188 shares during the last quarter. Finally, KBC Group NV increased its holdings in ArcBest by 69.4% in the 4th quarter. KBC Group NV now owns 1,299 shares of the transportation company's stock valued at $96,000 after acquiring an additional 532 shares during the last quarter. 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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