ArcBest (NASDAQ:ARCB) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research upgraded ArcBest from a "hold" to a "strong-buy", and several other analysts raised price targets, leaving a MarketBeat consensus of Moderate Buy with an average target of $123.42.
• ArcBest beat quarterly EPS estimates ($0.32 vs. $0.27) while revenue came in essentially in line ($998.8M vs. $999.1M), and the stock is trading near its 12‑month high (opened at $125.82) with a market cap of $2.81 billion and a P/E of 51.78.
• 99.27% of ArcBest shares are owned by institutional investors, reflecting heavy institutional participation in the stock.

ArcBest (NASDAQ:ARCB - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued on Thursday,Zacks.com reports.

Several other equities research analysts have also weighed in on the company. Stifel Nicolaus upped their price objective on ArcBest from $116.00 to $134.00 and gave the company a "buy" rating in a research note on Wednesday. Jefferies Financial Group increased their price target on ArcBest from $95.00 to $110.00 and gave the company a "buy" rating in a research note on Monday, February 2nd. UBS Group raised their price objective on ArcBest from $98.00 to $122.00 and gave the stock a "neutral" rating in a research note on Wednesday. TD Cowen raised their price objective on ArcBest from $97.00 to $137.00 and gave the company a "hold" rating in a report on Wednesday. Finally, JPMorgan Chase & Co. raised their target price on shares of ArcBest from $85.00 to $117.00 and gave the company a "neutral" rating in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, ArcBest has a consensus rating of "Moderate Buy" and an average target price of $123.42.

ArcBest Trading Down 1.4%

Shares of ARCB opened at $125.82 on Thursday. ArcBest has a 12-month low of $58.16 and a 12-month high of $135.10. The company has a quick ratio of 0.95, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of 51.78, a P/E/G ratio of 0.71 and a beta of 1.42. The stock's 50-day moving average price is $103.23 and its 200 day moving average price is $87.98.

ArcBest (NASDAQ:ARCB - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $998.79 million for the quarter, compared to analyst estimates of $999.07 million. During the same period in the previous year, the company posted $0.51 earnings per share. The company's quarterly revenue was up 3.3% compared to the same quarter last year. As a group, research analysts predict that ArcBest will post 5.16 earnings per share for the current year.

Institutional Investors Weigh In On ArcBest

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Federation des caisses Desjardins du Quebec increased its position in shares of ArcBest by 0.4% during 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 acquiring an additional 100 shares in the last quarter. Seelaus Asset Management LLC grew its position in shares of ArcBest by 3.5% during the 4th quarter. Seelaus Asset Management LLC now owns 3,710 shares of the transportation company's stock valued at $275,000 after acquiring an additional 125 shares during the period. ProShare Advisors LLC grew its position in shares of ArcBest by 3.1% during the 4th quarter. ProShare Advisors LLC now owns 4,431 shares of the transportation company's stock valued at $329,000 after acquiring an additional 135 shares during the period. Smartleaf Asset Management LLC grew its position in shares of ArcBest by 26.9% during the 3rd quarter. Smartleaf Asset Management LLC now owns 675 shares of the transportation company's stock valued at $47,000 after acquiring an additional 143 shares during the period. Finally, Capital Advisors Inc. OK lifted its position in shares of ArcBest by 3.4% during the third quarter. Capital Advisors Inc. OK now owns 4,375 shares of the transportation company's stock worth $306,000 after acquiring an additional 145 shares in the last quarter. 99.27% of the stock is 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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